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Vietnam Levies Its First Anti-Dumping Duties

by Mary Swire, Tax-News.com, Hong Kong

12 September 2014


Although Vietnam has had a regulation allowing for their imposition since 2004, a recent decision issued by the Ministry of Industry and Trade (MOIT) to put definitive anti-dumping (AD) duties on cold-rolled stainless steel products imported from China, Taiwan, Indonesia and Malaysia, is the first time Vietnam has used such measures.

According to the MOIT, the AD duties will be implemented from October 5, 2014 for five years, and will range from 3.07 percent to 37.29 percent, with the highest level being imposed on Taiwan's Yuan Long Stainless Steel Corporation, and the lowest tariffs on Indonesian steel producers.

Steel products are currently charged an import duty from zero to 10 percent import duty, dependent on the their country of origin, with the former being imposed on goods from China and Association of Southeast Asian Nations member states.

The MOIT began its AD investigation on cold-rolled stainless steel imports in July 2013, following an accusation that imported products were being sold at below fair market value, which was causing significant damage to the domestic steelmaking sector. The Ministry had previously applied provisional AD duties of between 6.45 percent and 30.73 percent on imports from the four countries.

TAGS: tax | tariffs | anti-dumping | China | Taiwan | manufacturing | tax rates | Indonesia | Malaysia | import duty | regulation | trade | Vietnam

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