After imposing the tax, the amount of cane sugar from 5 ASEAN countries in Vietnam has bottomed out

Published 2022년 10월 26일

Tridge summary

Vietnam has imposed an anti-circumvention tax on sugarcane products imported from five ASEAN countries, equal to the anti-dumping tax rate on Thailand, following the Ministry of Industry and Trade's Decision 1514. This has resulted in a significant decrease in sugar exports from these countries to Vietnam. Only six enterprises from these countries have been found to have avoided trade remedy evasion and continue to be eligible for a 5% tax rate.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On August 1, the Ministry of Industry and Trade issued Decision No. 1514/QD-BCT on the application of measures to prevent evasion of trade remedies for some sugarcane products imported from 5 countries. ASEAN as mentioned above. Accordingly, Vietnam that imports sugar from Cambodia, Indonesia, Laos, Malaysia and Myanmar using raw materials from cane sugar from Thailand will be subject to an anti-circumvention tax equal to the anti-dumping tax rate. Anti-dumping and countervailing duty applied by Vietnam to Thailand, has a total tax rate of 47.64% (of which anti-dumping tax is 42.99% and anti-subsidy tax is 4.65%). After the Ministry of Industry and Trade issued Decision 1514 as mentioned above, the amount of sugar exported from 5 ASEAN countries to Vietnam has dropped to the lowest level since the beginning of 2022 until now. Specifically, one of our sources (please do not name) said that in September 2022, the amount of sugar exported from Cambodia, Indonesia, Laos, Malaysia and ...

Source: Vietstock