Deadline extended for import steel tax review
Deadline extended for import steel tax review
The Viet Nam Competition Authority (VCA) under the Ministry of Industry and Trade (MoIT) will continue to receive requests from manufacturers, traders and others seeking to ease or lift the anti-dumping tax on imported cold-rolled stainless steel from China, Indonesia, Malaysia and Taiwan until July 31, 2017.
On September 5, 2014, the MoIT issued a decision to impose anti-dumping duties on several cold-rolled stainless steel products imported to Viet Nam from China, Indonesia, Malaysia and Taiwan. The first review was concluded on April 29, 2016.
After the first review, the anti-dumping duty on cold-rolled stainless steel imported from China-based Shanxi Taigang Stainless Steel Co Ltd was hiked from 6.58 per cent to 17.47 per cent, and from between 4.64 and 6.87 per cent to 25.35 per cent for other Chinese steel producers. Cold-rolled stainless steel products from Indonesia was levied an anti-dumping duty of 13.03 per cent, up from 3.07 per cent. On the other hand, duty on products from Malaysia dropped from 10.71 to 9.55 per cent.
For products from Taiwan, the duty was maintained at between 13.79 and 37.29 per cent. The duties are applicable from May 14, 2016, to October 6, 2019, as per the results of the first review.
Anti-dumping regulations enable concerned parties to request an annual review of anti-dumping duties. The request for reviews includes the scope of products being subject to duty, the applicable anti-dumping tax rates, new exporters and more.
On February 19, 2017, VCA started to get requests for a second review of the anti-dumping tax on cold-rolled stainless steel imported into Viet Nam until April 15, 2017.
In May, the MoIT issued a response to the review proposal submitted by several steel import companies and firms that sell steel to Viet Nam. The second review covers the period from May 1, 2016 to April 30, 2017. However, during the review time, VCA continued to receive feedback from enterprises seeking to eliminate duties on some of the products subjected to tax. Therefore, VCA informed all those involved in cold-rolled stainless steel products that they can submit their requests to VCA before August 1.
