Vietnam’s wood industry strained by VAT refund rules

(VAN)- The General Department of Taxation(GDT) is tightening control on the VAT refund for timber products but the problems that have arisen during implementation have created “a burden” for wood processing enterprises.

Vietnam tightens timber laws to ease US tariff threats

A 25% US tariff on Vietnamese wood products would ‘devastate’ the sector and its 10,000 workers, said Do Xuan Lap, chairman of the Vietnam Timber and Forest Product Association.