Gov’t waives VAT to support rice millers

Agricultural products have been granted an exemption from the value-added tax (VAT) as part of a government effort to support local rice farmers and millers, according to a prakas issued Wednesday by the General Taxation Department.

The prakas, effective immediately, aimed to reduce the cost farmers pay for seeds and rice millers must pay for paddy, making rice production more price-competitive, the prakas said.

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