During Parliament’s regular session on May 10, a final review of amendments to the Value-Added Tax Law was conducted and approved with a majority vote from Parliament members in attendance.
According to the amendments, all imported wood construction materials except oriented strand board (OSB), standardized pre-fabricated wood building structures, and logs will be exempt from customs duty.
Other imported wood products, except those related to forestry and horticulture, will be exempt from value-added tax until 2022.
During Parliament’s regular session on May 10, a final review of amendments to the Value-Added Tax Law was conducted and approved with a majority vote from Parliament members in attendance.
According to the amendments, all imported wood construction materials except oriented strand board (OSB), standardized pre-fabricated wood building structures, and logs will be exempt from customs duty.
Other imported wood products, except those related to forestry and horticulture, will be exempt from value-added tax until 2022.