Over 55,000 tonnes of Vietnamese rice exported to RoK to enjoy 5 percent tax rate

The Republic of Korea (RoK) has offered a preferential tax rate of 5 percent for 55,112 tonnes of rice imported from Vietnam, according to the Asia-Africa Market Department under the Ministry of Industry and Trade.

The RoK’s Agro-Fisheries & Food Trade Corp (aT) has issued an international tender to purchase 27,791 tonnes of rice sourced from Vietnam. The rice includes non-glutinous brown long grain and long grain rice.

The deadline for registration to participate in the tender is February 25. Businesses can submit documents directly to the aT or through its electronic bidding system at www.atbid.co.kr. They should deliver five bags of rice samples with 2kg each to the corporation.

The RoK has applied a preferential tax rate of 5 percent for 408,700 tonnes of imported rice since 2020, the department said, adding that the tax rate applied for others is 513 percent.

Particularly, the RoK committed to allocating 388,700 tonnes in line with the country-specific quota for five nations, namely the US, China, Thailand, Australia, and Vietnam. An international tender will be sought for the rest.