Vietnam to Impose 5% Tax on Steel Billets Exports

  • Thursday, July 15, 2021
  • Source:ferro-alloys.com

  • Keywords:Vietnam,export,steel
[Fellow]Vietnam plans to impose a 5% export tax on steel billets and cut the import tax on some steel products.

[Ferro-Alloys.com]

Reuters reported that Vietnam plans to impose a 5% export tax on steel billets and cut the import tax on some steel products. The move is aimed at easing domestic steel prices to help firms cut costs as a recent increase in domestic steel prices had put a brake on several projects. In addition, import tax on some steel products, including construction steel products, would be reduced to 10%-15% from a range of 15%-25%.
 
Vietnam’s steel exports in the first half of 2021 rose 50% from a year earlier to 5.88 million tonnes, while steel imports were up 5.9% at 7.09 million tonnes.
 
source:SteelGuru Business News
  • [Editor:李慧]

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