Monday, December 23, 2024 2:35:07 PM - Markets open
VN-INDEX 1,263.15 +5.65/+0.45%
HNX-INDEX 228.19 +1.12/+0.49%
UPCOM-INDEX 93.48 +0.09/+0.10%
US cancels tax evasion probe into Vietnamese wooden cabinets
vietnamnews - 7/18/2024 3:18:36 PM
 (0 ratings. You must sign in to rate.)
To protect the legitimate rights and interests of Vietnamese enterprises, the TRAV has recommended that local businesses fully comply with the regulations set by the Certificate Regime and closely coordinate with the TRAV to receive timely support.
 
 
Wooden goods are made for export at a factory in Long An. — VNA/VNS Photo Minh Hưng
 
The US Department of Commerce (DOC) has ended in its entirety the probe into trade remedy tax evasion on wooden cabinets imported from Việt Nam, according to the Trade Remedies Authority of Vietnam (TRAV).
 
Following an investigation into the scope of products, the US side has maintained that the preliminary conclusion had been adjusted in September 2023, the TRAV cited the conclusion issued recently by the DOC.
 
Three cases of wooden cabinets imported from Việt Nam, with components produced in China, were within the scope of duty orders on wooden cabinets from China.
 
The TRAV said that the DOC will send a notice to the US Customs and Border Protection (CBP) to instruct the application of the Certificate Regime to Vietnamese wooden cabinets.
 
The mechanism will allow local firms that do not fall into the above three cases to be exempted from anti-dumping or countervailing duties, when exporting items to the US market.
 
The TRAV suggested that Vietnamese exporters complete the self-certification declaration form for exporters and provide a copy and supporting documents including invoices, orders and production records to the US importer. At the same time, the importers need to complete the self-certification declaration form for importers before the shipment date.
 
In addition to having a self-certification application, Vietnamese firms are advised to retain records and documents as a basis to prove that confirmation within five years from the time the shipment is exported so that the US authorities can verify if necessary.
 
To protect the legitimate rights and interests of Vietnamese enterprises, the TRAV also has recommended that local businesses fully comply with the regulations set by the Certificate Regime and closely coordinate with the agency to receive timely support.
 
Since April 2020, the US has imposed anti-dumping and anti-subsidy duties on wooden cabinets originating from China, with anti-dumping tax rates ranging from 4.37 per cent to 262.18 per cent, as well as anti-subsidy tax rates ranging from 13.33 per cent to 293.45 per cent. — VNS
 
Read original article here
Newer News
17/12 HCM City’s retail sales up 11 per cent this year
17/12 Agriculture sector records trade surplus this year
17/12 Vietnam's gaming industry reaching high score in entertainment sector
17/12 Vietnam’s garment-textile exports expected to reach US$44 billion this year
17/12 Vietnam’s e-commerce boom: a US$5.8 bln opportunity by 2028
17/12 E-commerce: a gateway to boost Vietnamese commodities in the UK market
17/12 Retail giants to ensure sufficient supply, steady prices of Tet goods
16/12 Failure of a Chinese giant in a competitive retail market
16/12 Vietnam’s GDP growth poised for robust growth in 2024: officials
13/12 B2C e-commerce market in bloom
Older News
18/07 Providing safe good food into modern distribution channels is promoted
18/07 ADB keeps Vietnam's growth outlook unchanged
18/07 HCM City hosts major electrical technology, green energy expo
17/07 Vietnam e-commerce market grows fastest in SEA
17/07 Binh Duong Province starts construction of most modern automated sorting centre
17/07 Vietnam Motor Show 2024 returns with tech focus, multidimensional experiences
17/07 NIC launches semiconductor design training programme with Qorvo, Cadence partnerships
17/07 Vietnamese electronics enterprises have low, small position in export supply chain
17/07 Vietnam expects next large wave of investment from South Korea
17/07 AMRO revises Vietnam’s 2024 growth forecast upward to 6.3%, the highest in ASEAN
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 2:35:02 PM
VN-INDEX 1,263.15 +5.65/+0.45%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.