Lifid
US names more for shrimp tax review
VietNamNet The US Department of Commerce (DOC) has announced three further companies will be subject to administration review taxation.
The US DOC has decided to file administration review against Kigimex, Fish One and Seaprodex Hanoi, replacing Amanda Foods, Phuong Nam and Fimex to as defendants in the review.
The three new defendants are currently imposed with taxes between 4.57% and 25.76%.
Besides these three firms, another 61 Vietnamese seafood companies will also be subject to the review. Thirty have been listed by the Vietnam Association of Seafood Exporters and Producers (VASEP) as missing.
Amanda Foods, Phuong Nam and Fimex are freed from the review, having obtained agreement to retain the current anti-dumping taxes with the South Shrimp Alliance (SSA). Under the agreement, the three companies will pay SSA a sum of money to be calculated on total export turnover gained from shipments between July 16, 2004 and January 31, 2006. Besides these three companies, 20 more Vietnamese companies have also reached similar agreements with SSA.
In early June, Dewey Ballantine, the law firm representing the plaintiff (SSA) sent documents to DOC requesting the weeding of 19 more companies from the review list. Four other companies have also reportedly reached agreements with SSA.
The move by DOC to name another three compulsory defendants showed that SSAs request has been accepted by DOC. The anti-dumping taxes on the companies that have successfully cooperated with SSA will remain unchanged until the next review. Reportedly outside observers have said that the agreements are contradictory to WTO rules.
Vietnam has eight companies listed as voluntary defendants, which will be imposed with tax rates equivalent to the average rates imposed on mandatory defendants.
On July 12, the US DOC announced the names of Thai, Indian, Ecuador and Brazilian companies to be subjects to the review. Cambodian Good Luck Product, Thai I-Mei Frozen Foods, Pakfood Public and branches, Asia Pacific, Chaophyraya Cold Storage, Okeanos and Takzin Samut will also be under review.
India will have three compulsory defendants, namely Falcon Marine Exports, Hindustan Lever and Devi Marine Food Exports Private. The two Ecuadorian defendants are Oceaninvest S.A. and Promarisco S.A, and two Brazilian firms are Aquatica Maricultura do Brazil and Compescal – Comercio de Pescado Aracatiense.
Last month, DOC also listed three Chinese defendants; Meizhou Aquatic Products, Red Garden Food and Yelin Enterprise.
According to the Ministry of Planning and Investment, exports to the US have been decreasing, making the US now the third biggest export market for Vietnam. The exports to the market now account for 18.21% of the total output
Source: VNE
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