Dumping investigations surge by 39%

18/11/2008 12:00 - 755 Views

The World Trade Organisation (WTO) has reported that there was a 39% surge in initiations of antidumping investigations from January 1 to June 30, compared with the figure for the corresponding period last year.

Turkey reported the most initiations –13 – while the US reported 12, India 11, and Argentina and the European Communities 10 each. South Africa initiated one investigation.

The People's Republic of China (China) had 37 investigations initiated against it, while seven investigations were initiated against Thailand, and five each were initiated against the European Communities and Indonesia. South Africa was subject to only one investigation. As for the imposition of final antidumping duties, India imposed 16, the European Communities eight, Indonesia five, Argentina, China and Ukraine four each, and Brazil and South Africa three each.

This confirms the dramatic reduction in the number of antidumping initiations being undertaken by the International Trade Administration Commission of South Africa (Itac). One might also want to consider the number of antidumping and countervailing investigations that Itac reported in its 2007/8 annual report – covering the 12 months from April 1, 2007, to March 31, 2008. During this period, Itac initiated 15 investigations, compared with its target of 31.

Customs Bill – Definitely, Maybe, One Day
The South African Revenue Service (Sars) has provided an update on the progress of the Customs Bill to Business Unity South Africa (Busa). According to Marina van Twisk, the Customs Bill's internal and Southern African Customs Union (Sacu) review processes were taking much longer than expected.

Many comments have apparently been received and Sars is now in the process of redrafting the Bill, which is expected to take up to six months to complete. Following this, there will then be a further round of internal (within Sars) as well as Sacu consultations.

Van Twisk confirmed to Busa that the third draft of the Customs Bill would then be made available to external stakeholders, including the National Economic Development and Labour Council. It is understood that may only be in the second half of 2009. Readers will recall that the redrafting of the Customs and Excise Act started in 2003.

Increase in Rate of Duty on Sugar
The European Free-Trade Area (EFTA), European Union, general and Southern African Development Community rates of customs duty on sugar have been increased from free of duty to 1,3c/kg.

Double Taxation Agreement – Singapore
Sars has published a notice in respect of the proposed renegotiation of the Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income with the Government of the Republic of Singapore.

Comment is due by November 7.

Published: 7 Nov 08 - 0:00

Source: www.engineeringnews.co.za
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