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Article: Palaus export tax an obstacle to fishing joint ventures.
- Article from:
- PAC - Pacific Islands Broadcasting Association
- Article date:
- February 11, 2009
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11 FEBRUARY 2009 GENERAL SANTOS CITY (Pacnews) ---- A hefty tax on tuna and tuna-like species emerged as the major issue that Philippine fishing companies raised during exploratory talks late last week for joint fishing venture deals with their Palau counterparts, reports Business World online.
Palau slaps an export tax of U$0.35 per kilogramme on tuna and tuna-like species, regardless on the quality of the stocks.
Thats quite significant as far as value is concerned. Its a hefty tax and very difficult to work at that rate, said Domingo T. Teng, owner of TSP Marine Industries.
With the price of tuna in the international market at US$1,000 per ...