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In order to boost the farm sector, the government has lifted
value-added tax (VAT) on a variety of goods and commodities, including
agricultural machinery and primary agricultural products.
Under a new government regulation, there are six categories of goods
that will be exempted from VAT.
These include capital goods, such as engines, factory machines and
machine tools, both in knocked-down or built-up form, and feeds and
feed ingredients for livestock, fowl and farmed fish.
Also exempted from VAT are farm produce, seeds for agriculture and
market gardening, fish and livestock seed, clean water distributed
through pipes, and electricity, except for domestic use, where the
power supply is higher than 6,600 watts.
The new regulation provides that agricultural produce, including that
produced by enterprises operating in the agricultural, market-gardening
and forestry sectors, will also be exempted form VAT.
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