Published Date: 27/11/2024
- Under the newly approved Amended Value Added Tax (VAT) Law, fertilizers will be subject to a 5% VAT rate starting from July 2025.
- The imposition of VAT on fertilizers is expected to support the profitability of certain domestic fertilizer manufacturers by allowing them to claim input VAT refunds.
- We expect that certain fertilizer companies will benefit from this change in the VAT law, including DCM, DPM, DDV, and LAS.
