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Vietnam may impose 10% duty on import of chrome added steel billts-The 17th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
10/29/2015 Stainless Steel Industry expo |
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Thanh Nien News reported that Vietnam’s Ministry of Finance is considering changing a tax regulation following concerns that the rule has been abused by Chinese exporters to ship a large amount of steel to Vietnam without paying duties.
Currently imported steel with at least 0.3 percent of chrome content will be exempt from tariffs, but the ministry wants to introduce a 10 percent tax. The proposal is now awaiting feedback from the Ministry of Industry and Trade, the Ministry of Planning and Investment, and other relevant agencies.
It came after the Vietnam Steel Association voiced concerns over strong increases in Chinese-imported alloy steel billets recently. VSA said “Chinese exporters claim their products contain 0.3-0.4 percent chrome content, thus getting import duty exemption under Vietnam''s existing laws. But the very small chrome content does not add any value to the steel billets, meaning they cannot be used for making high-quality products.”
More than 1.13 million tons of steel billets, mostly from China, were imported in the first nine months, almost triple the volume imported in the same period last year.
不锈钢展-2016第十七届广州国际不锈钢工业展-效果最好的不锈钢展会-stainless-steel-The 17th China(Guangzhou)Int''l Stainless
Steel Industry Exhibition
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