Vietnam Govt. Considering Imposition of Import Duty on HRC- Reports

Market sources based in Vietnam shared with SteelMint that the Ministry is considering imposition of tax rate on imported HRC. As per reports, the govt is considering import tax from 0% to 5 % as Vietnam is the most preferred destination for imports from major steel exporting nations in Asia like China,Japan,Korea and India.

Meanwhile few other sources shared that if CO (Certificate of origin) is issued by the countries which have agreement with Vietnam like Form E (Vietnam-China), form AJ (Asia-Japan),AI (Asia-India) and AK (Asia- Korea) so the import tax will be 0%.However if Certificate of Origin is without agreement then import tax on HRC will be of 5%.

Thus few major suppliers may avoid imported tax on HRC by having CO agreement with major exporting nations.

However HRC import tax duty is still under discussion and further updates on the same are still awaited