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Haiti suspends taxes on imported rice


The Ministry of Economy and Finance recently announced the temporary suspension of the Value Added Tax on imported rice. Rice is a staple food in the country and over 80 percent of the domestic food supply is satisfied with imports, mostly from the United States of America. Prices of imported rice in January 2019 were generally well above their year-earlier levels, mainly due to the weak currency, which has depreciated progressively since late 2017. In January 2019 the exchange rate stood at HTG 78.2 per 1 USD, compared to HTG 63.5 per 1 USD in December 2017. The suspension of the tax is intended to curb further price increases of rice and comes amidst other interventions implemented by the Government, following the declaration of a state of economic emergency in early February.

Country: Haiti