Government finances coffee purchasers with tax exclusive price

Ministry of Finance (MoF) lately issued Circular No 83/2010/TT-BTC dated June 8, 2010 for guidance about supporting interest rates for loans to purchase coffee for storage purposes in 2009-2010 crop.

The coffee traders that were assigned for stockpiling coffee for crop 2009-2010 can access loans from Vietnam Bank for Agriculture and Rural Development (Agribank) at supporting interest rates of 6 percent per year.

The actual trading price with value added tax (VAT) exclusive will be used as the supporting price for coffee buyers for storage purposes. The price will be applied in sales contract, purchase orders, bank transfer and other relating documents to be submitted by the enterprises.

The coffee storage period lasts from April 15 to October 15, 2010. The borrowers who purchase coffee for storage purposes will receive loans with supporting lending rates at Agribank from the purchasing date to the selling date, but before October 15, 2010.

CafeF

Tags: Vietnam Coffee, Vietnam coffee output

Posted by VBN on Jun 11 2010. Filed under Agriculture. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry