Wood exporting enterprises at risk of high tax in US market

28/07/2023 04:37 - 116 Views

The US Department of Commerce yesterday informed that several Vietnamese wood exporters are at a risk of high tax when selling products in this country.

Until now, 37 Vietnamese hardwood plywood manufacturers have received a notice from the US Department of Commerce about an investigation on the evasion of anti-dumping duty and anti-subsidy tax. At present, they have to pay a deposit for a total tax of over 200 percent, yet are not eligible for the self-certification mechanism.

Vietnam Timber and Forest Products Association shared that the US Department of Commerce had questioned if plywood exported from Vietnam were actually originated from China or not. Right now, this Association is cooperating with the Ministry of Industry and Trade and related businesses to work with the US to avoid the risk of suffering high tax for these kinds of product.

Meanwhile, the Trade Remedies Authority of Vietnam (under the Ministry of Industry and Trade) further informed that it has received a notice that the US Department of Commerce has extended the date to issue its inspection conclusion about the evasion of safeguard duties on wooden cabinets exported from Vietnam.

It is expected that this conclusion will be released on August 17, 2023.

Source: SGGP News