US DoC to Rethink Tax Rates for Vietnamese Catfish Exporters

The US Department of Commerce (DoC) has announced that it will reconsider the anti-dumping tax rates it applied on the Vietnamese tra and basa catfish products on its market if asked for by Vietnamese exporters.

Some Vietnamese exporters are working on procedures to apply for lower import tariffs following the DoC's announcement.

Applications are to reach the DoC this month and the department will consider them on an individual basis. Those that are shortlisted will have to go through lengthy procedures, which will last between 12 and 18 months.

If the DOC offers a lower tax rate, the Vietnamese exporter will get back what it has paid in excessive tax plus an interest rate of 6% per year. If the revised tax rate is higher, the DoC will collect only the difference from August 1, 2003 to July 31, 2004.

In the anti-dumping catfish lawsuit, Agifish was imposed with an import tax rate of 47.05%, Nam Viet 53.68%, CATACO 45.81%, Vinh Hoan 36.84% and seven smaller exporters from 45.55% to 63.88%. (VNA Aug 12, Youth Aug 12 p8)