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Export taxes on timber, minerals tipped to rise

Oct 30th at 12:51
30-10-2012 12:51:17+07:00

Export taxes on timber, minerals tipped to rise

A proposal to impose or increase export taxes on different categories of wood and minerals has been announced by the Ministry of Finance.

An export tax of 10 per cent was proposed for exports of rough timber – with or without bark – planks and sapwood, and 5 per cent in the case of some categories of sawn timber, and wood to make plywood of 6mm or less in thickness. These categories are not taxed at present.

The ministry proposes a 30 per cent tax on the export of nickel, aluminium, tin, zinc, uranium, wolfram and silver ores – up from 20 per cent at present – to be in line with the current export tax on gold ore.

Gemstones and semiprecious stones, which are not taxed at present, would be taxed at 10 per cent.

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