Imposing tax rate 10.9% for imported steel coil and steel wire rod
This is considered as a measure to protect domestic production against the risk of dumping from foreign businesses ...
Ministry of Industry and Trade has officially issued Decision No. 1230 on the application of safeguard measures for steel wire rod and steel coil imported into Vietnam.
Ministry of Industry and Trade previously issued Decision No. 2622 / QD-BCT on conducting investigation for safeguard measures for steel wire rod and steel coin imported into Vietnam.
After nearly a year of investigation, Ministry of Industry and Trade has officially adopted a safeguard measures for domestic production.
Goods subject to safeguard measures are steel wire rod and steel coil imported with HS code as: 7213.91.90, 7217.10.10, 7217.10.29, 7229.90.99, 9839.10.00.
Safeguard measures are applied in the form of additional import duties with a tax rate of 10.9% from 28/5/2019 until March 21, 2020 (if initial safeguard is not renewed).
Organizations and individuals who import the above-mentioned steel can apply for exemption from application of safeguard measures if they believe that their imported goods are different from domestically manufactured goods.
Competition Administration Department (Ministry of Industry and Trade) previously stated that they had decided to apply official anti-dumping measures for imported H-shaped steel; the tax rate was from 20.48 to 29.4% for goods from China, Korea.