MOF cuts tariffs on raw material imports

Amid complaints rs on higher raw material prices which forced local producers to raise prices, Deputy Finance Minister Pradit Phatraprasit said on Monday that the ministry is ready to cut raw material tariffs for the animal feed industry.

The tariffs cover soybean, maize, and soybean meal imports. Currently, the imports are under the quota system to protect local farmers

Next week, the issue would be submitted to the Cabinet for consideration, he said, following the meeting of the ministries of Finance, Agriculture and Commerce.

"We will take into account of interest groups," Pradit assured.

Pradit yesterday met with Wisudhi Srisuphan, director-general of the Customs Department, for discussion on shipment facilitation. Over the past five months, the department's tax collection surpassed the target by Bt3.6 billion.

On Friday, the department seized counterfeited brand name products worth Bt149 million, which included Louis Vuitton, Prada, Chanel, and Hello Kitty.

- The Nation

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MOF cuts tariffs on raw material imports

Amid complaints rs on higher raw material prices which forced local producers to raise prices, Deputy Finance Minister Pradit Phatraprasit said on Monday that the ministry is ready to cut raw material tariffs for the animal feed industry.

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