Tariffs on rice slashed to help fuel exports
As part of a continuing push to bolster rice exports, the government has agreed to waive all export tariffs on milled rice and will also eliminate value-added tax (VAT) on paddy rice purchased domestically. According to a promulgation signed last month by Finance Minister Keat Chhon, rice planting and milling companies will not be required to pay tax on revenues for three years. Only if the company is making a profit after three years will a 1 percent income tax rate be applied…
