The government said on the 9th it will make permanent key tax benefits for farmers and fishers that were set to end at the close of this year.
The Ministry of Agriculture, Food and Rural Affairs said that in the "2026 tax reform plan," corporate tax reductions for agricultural corporations and income-tax reductions on dividends for investors and members of agricultural corporations will be converted into permanent special taxation. For staple crop cultivation, dividend income tax will be fully exempt, and for crops other than staple crops, it will be exempt within certain limits.
The Ministry of Oceans and Fisheries said that in the fisheries sector, corporate tax for English fisheries cooperatives, dividend income tax for members, and value-added taxes on fisheries management and outsourced operations services by fishery corporations will remain exempt. The special taxation applied when a fisher contributes in kind, such as land for fishing, to an English fisheries cooperative or a fisheries company will also remain in place.
Support for tax-exempt fuel for agriculture and fisheries will also be extended three years, through Dec. 31, 2029.
The tax reform plan containing these details is scheduled to be submitted to the National Assembly next month. The National Assembly will finalize the contents after a plenary vote.