Vietnamese steel firms to pay US tax
Three Vietnamese steel firms will pay zero tax after answering the anti-dumping questionnaire of the US Commerce Department, but other exporters of steel pipes will pay the maximum tax of 113 percent.
Production line at Thai Nguyen Iron and Steel Corporation in the northern province of Thai Nguyen (Photo: VNA)Hanoi (VNA) - Three Vietnamese steel firms will pay zero tax after answering the anti-dumping questionnaire of the US Commerce Department (DOC), but other Vietnamese exporters of steel pipes will pay the maximum tax of 113 percent.
The Vietnam Competition Authority (VCA) said in early June that the US had made its preliminary decision on anti-dumping investigations of carbon welded steel pipe imports into the US market.
Hoa Phat Steel Pipe Ltd. participated as a voluntary respondent in the investigation and was levied an individual tax rate of 0.38 percent.
Two other respondents, Seah Steel Vina Corporation and Vietnam Hai Phong Hongyuan Machinery Manufactory Ltd., were levied a tax rate of zero percent and 1.19 percent, respectively.
Meanwhile, the anti-dumping duty levied nationwide on other exporters from Vietnam who failed to respond to the DOC was 113.18 percent, the highest among the countries affected by the decision.
On November 18, 2015, the DOC issued a notice initiating anti-dumping investigations into carbon steel pipe products of Vietnam and four other countries.
On June 1, the DOC announced preliminary determinations in the anti-dumping (AD) duty investigations of imports of circular welded carbon quality steel pipe (CWP) from Oman (7.86 percent), Pakistan (11.8 percent), United Arab Emirates (6.1-7.86 percent), and Vietnam(113.18 percent).
A final DOC ruling is expected within 135 days.
Under US tax law provisions, any rate lower than 2 percent is implemented as a rate of zero percent.
Vietnam’s 2014 carbon welded steel pipe exports to the United State were valued at some 60.6 million USD, the highest among the four countries probed, according to the VCA.-VNA
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