Recently, Vietnam has become a member of many free trade agreements with many strategic areas, and most recently, especially CPTPP, EVFTA, … Because of these FTAs, Vietnamese goods have been enjoy tax incentives and more. 

In addition, the trend of using trade remedies to protect domestic production is used more and more. Markets that impose tax on each other and in combination with Vietnam’s tax exemption for potential markets will cause many factories and trading companies to commit frauds and fake certificates of origin goods (C/O) of Vietnam, labeling goods abroad before importing them to Vietnam for consumption and group of acts of cheating, counterfeiting C/O Vietnam, illegally conveying for export to enjoy preferential tax rates.

The General Department of Customs has zoned 15 groups of goods at risk of fraud, counterfeiting C/O, including steel products.

Trade expert Pham Tat Thang said that the status of goods origin fraud has been warned for a long time. When this situation occurs, it will lead to the risk that Vietnamese exports will be evaded by tax investigation, leading to great economic losses. With the US market, in the context of complicated and unpredictable developments in the US-China trade war, China will find ways to consume stagnant goods, so we need to be alert.

For example, USA has recently investigated tax evasion of CORE and CRC products imported from Vietnam. According to the investigation results, for CORE and CRC products imported from Vietnam but originating from Taiwan or Korea, the highest tax rate is up to 456.23%.

Over the years, the General Department of Customs has detected many cases of fraudulent, fake goods imported from Vietnam to evade taxes and enjoy preferential rates. In the coming time, in order to prevent C/O fraud, when checking shipment records and actual goods, the General Department of Customs requires specific inspection of goods names, C/O, and labels. goods must match the goods names …; At the same time, it proactively collects information on products that major markets such as the United States, Europe, Japan … apply anti-dumping tax to control import and export goods.

Factories and trading companies should take care not to encounter unexpected problems in the export of goods.

To know more detail about Trade Defense, please feel free to contact us at:

Ms Lan – Juridical Manager of MRS Steel

Email: lan@mrs.com.vn

 

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