Key Import and Export Duty Changes Around the World
In the past month, many countries and regions around the world have made important adjustments to the import and export duties and taxes of related products. The editor has compiled the latest tariff and tax information summary for you, let’s see which changes are relevant to you!
Indonesia
Up to 10% export tax on copper concentrate
According to a report by Yonhap News Agency on July 20, the Indonesian government originally planned to ban the export of mineral products such as copper concentrate from this year, and then stated that exports will be allowed before May next year, but an export tax of up to 10% will be imposed. According to CNBC Indonesia and other media reports, the Indonesian government has stated that when exporting metal minerals, tariffs will be determined based on the progress of facility construction. Only mining companies with a construction rate of more than 50% can export copper concentrate. A 10% tariff is imposed on those with a construction rate of 50% to 70%, a 7.5% tariff on those with a construction rate of 70% to 90%, and a 5% tariff on those with a construction rate of more than 90%. . In addition, it was also decided to impose an export tariff of 2.5% to 7.5% on iron, zinc, and lead concentrates based on the construction rate of the smelter. The tariff rate will be applied until the end of this year. From January next year, the tax rate will be raised to 7.5%~15% for copper concentrates and 5%~10% for iron, zinc, and lead concentrates.
Vietnam
cut petrol import duty
According to news from the Financial Associated Press on July 5, Vietnamese media reported that Vietnam will reduce gasoline import tax from 10% to 5.62%. The Ministry of Finance said the average import duty rate on gasoline products has been reduced to 5.62 percent, and that on diesel and Mazut oil to 0.58 percent and 1.38 percent, respectively. No adjustment was made for paraffin.
Azerbaijan
VAT on agricultural equipment imports will be exempted
The Interfax news agency recently reported that the Azerbaijani Cabinet decided to exempt the import of the following agricultural equipment from VAT: mobile units for agro-industrial complexes or gardening; pneumatic lifts and conveyors for agricultural purposes; straw harvesters; grain harvesters; others Machinery for harvesting grain, etc. This decision will take effect on January 1, 2023.
Brazil
Cross-border packages below US$50 continue to be tax-free
According to the new import tax regulations for cross-border online shopping announced by the Brazilian Ministry of Finance, from August 1, orders generated on cross-border e-commerce platforms that have joined the Remessa Conforme plan of the Pakistani government and whose value does not exceed US$50 will be exempt from import tax, otherwise 60% import tax will be levied. Since the beginning of this year, the Pakistani Ministry of Finance has repeatedly stated that it will cancel the tax-free policy for cross-border online shopping of US$50 and below, but under pressure from all parties, the Ministry has decided to strengthen the supervision of major platforms while maintaining the existing tax-free rules.
Russia
Raise tariffs on oil exports
According to the Russian Satellite News Agency, the Russian Ministry of Finance announced that a series of export tariffs on oil products will be raised from August 1 this year. Among them, the oil export tariff was raised by US$1.3 to US$16.9 per ton; the tariff on light oil products and lubricating oil was increased by US$0.4 to US$5 per ton, and the tariff on heavy oil products was increased by US$1.3 to US$16.9 per ton; gasoline Export tariffs were raised by US$0.4 to US$5 per ton; liquefied natural gas tariffs and liquefied petroleum gas pure distillate export tariffs remained at zero; coke tariffs were US$1 per ton.
Increase the import duty rate on plywood originating in unfriendly countries to 50%
Russian Satellite News Agency reported on July 26 that the Russian Ministry of Economic Development Press Office stated that Russia implemented protective import tariffs on plywood, polyurethane building parts, and pure glycerin originating in unfriendly countries, and set a 50% import tariff rate on plywood. Set a 35% tariff rate on polyurethane construction parts originating in unfriendly countries.
Defer sunflower oil export duty for one year
The Financial Associated Press reported on July 26 that the Russian Ministry of Economy stated that Russia will extend the export tariff on sunflower oil for one year to avoid shortages in the domestic market.
Raise tariffs on wine
The Russian government stated on July 25 that the tariffs imposed on wine imported from “unfriendly countries” will be raised from the current 12.5% to 20%. The measure will last until the end of 2023.
India
Anti-dumping duties imposed on Chinese linen yarn
On July 17, the Indian Ministry of Commerce and Industry issued an announcement to make the first anti-dumping sunset review affirmative final ruling on flax yarns of less than 70 deniers or less than 42 counts originating in or imported from China. A 5-year anti-dumping tax is imposed, with a tax amount of 2.42 to 4.83 US dollars per kilogram.
Raise crude oil windfall tax
The Indian government raised the windfall tax on crude oil from 0 to 1,600 Indian rupees per tonne ($19.49) on July 14, according to a notification from the Indian government. The changes will be implemented from July 15, the finance ministry said, adding that the government has kept the windfall tax on diesel, petrol and aviation turbine fuel unchanged at zero.
28% tax on online games
The Indian government stated on July 11 that it would impose a 28% tax on the turnover of online game companies. According to analysis, this will deal a major blow to the country’s $1.5 billion (approximately RMB 10.78 billion) game industry and impose heavy undermine the confidence of foreign investors.
Thailand
Imposing anti-dumping duties on special iron pipes and steel pipes related to China
On July 19, Thailand’s Dumping and Subsidy Review Committee issued an announcement, making the first anti-dumping sunset review affirmative final ruling on special iron pipes and steel pipes originating in China and South Korea, and decided to continue to conduct land-based inspections on the products involved in the above countries. Anti-dumping duty (CIF) for a period of 5 years, of which China is 3.22% to 66.01%, South Korea is 3.49% to 53.88%.
Anti-dumping duties imposed on hot-rolled steel sheets related to China
On July 10, Thailand’s Dumping and Subsidy Review Committee issued an announcement, making a positive final ruling on the second anti-dumping sunset review of hot-rolled steel plates originating in China and Malaysia, and decided to continue to base the CIF price on the products involved in the above countries ( CIF) imposes anti-dumping duties for a period of 5 years, and the tax rate remains unchanged. Among them, Chinese companies are 30.91%, and Malaysian companies are 23.57%~42.51%.
Peru
Anti-dumping duties imposed on Chinese zippers and their accessories
On July 14, Peru made an anti-circumvention final ruling on zippers and their accessories originating in mainland China, ruling that the involved products originating in mainland China were exported to Peru through Malaysia and Taiwan, China to circumvent anti-dumping measures, and decided to impose sanctions on Malaysia and Taiwan. Anti-dumping duties are imposed on zippers and their accessories imported from Taiwan, China (whether they are origin or not), that is, anti-dumping duties of US$4.84/kg are imposed on metal zippers with a FOB price (FOB) of no more than US$23.29/kg, and the FOB price is levied. Anti-dumping duties of $2.11/kg are imposed on zippers made of other materials that do not exceed $44.26/kg, and anti-dumping duties of $0.66/kg are imposed on zipper accessories with an FOB price of no more than $9.28/kg.
Eurasian Economic Union
Extend the validity period of anti-dumping duties on rolling bearings in China
On July 19, the Internal Market Protection Department of the Eurasian Economic Commission announced that it had decided to extend the validity period of the anti-dumping duties on rolling bearings (excluding needle bearings) originating in China to April 20, 2024 (inclusive), and the tax rate was maintained at 31.3 %~41.5% unchanged.
Continue to impose anti-dumping duties on Huacai coated steel sheets
On July 21, the Internal Market Protection Department of the Eurasian Economic Commission issued an announcement stating that it decided to maintain the current anti-dumping duties on color-coated sheets originating in mainland China unchanged until July 17, 2028 (inclusive). The products involved are polymer pre-coated cold-rolled steel sheets and cold-rolled galvanized steel sheets with a thickness between 0.2 mm and 2 mm and a width exceeding 50 mm.
European Union
Anti-dumping duties imposed on seamless steel pipes from China
On July 14, the European Commission issued an announcement to make the final ruling of the first anti-dumping sunset review on seamless steel pipes originating in China, and decided to continue to maintain the anti-dumping measures on the products involved, with a tax rate of 29.2%~54.9%. The products involved are seamless iron pipes (except cast iron) and seamless steel pipes (except stainless steel) with a circular cross-section and an outer diameter exceeding 406.4 mm.
Imposing anti-dumping duties on China-related bulb flat steel
On July 12, the European Commission issued an announcement to make an affirmative preliminary anti-dumping ruling on bulb flat steel originating in China and Turkey, and initially ruled that the provisional anti-dumping duty for Chinese companies is 14.7%; for Turkish companies it is 13.6%. The products involved are non-alloy bulb flat steels with a width not exceeding 204mm.
Anti-dumping duties imposed on Chinese glass fiber filaments
On July 14, the European Commission announced that it had made the final ruling of the second anti-dumping sunset review on glass fiber filaments originating in China, and decided to continue to maintain the anti-dumping measures on the products involved, with a tax rate of 0-19.9%.
Anti-dumping duties imposed on Chinese refillable stainless steel barrels
On July 4, the European Commission issued an announcement to make a final anti-dumping ruling on refillable stainless steel drums originating in China, ruling that an anti-dumping duty of 62.6% to 69.6% be imposed on the products involved. The product in question is of approximately cylindrical shape, with a wall thickness equal to or greater than 0.5 mm and a capacity equal to or greater than 4.5 liters, regardless of type of finish, size or grade of stainless steel, with or without additional parts (extractors, necks, edges or sides extending from the barrel) or any other part), whether or not painted or coated with other materials, intended to contain materials other than liquefied gas, crude oil and petroleum products.
Insist on tariffs on UK electric car imports from 2024
The British “Financial Times” reported on July 6 that the European Commission insisted that it will stick to its plan to impose tariffs on electric vehicles transported between the UK and the EU from next year. It comes after the European Commission warned that the group was losing the global battle for battery investment. Backed by carmakers across Europe, the British government is seeking to delay the implementation of a post-Brexit trade rule from 2024 to 2027, saying it would impose too much costs on the industry.
madagascar
Safeguard duty on imported pasta
Recently, the investigation agency of Madagascar (ANMCC) made the first sunset review and final ruling on the import of pasta. It is recommended to continue to implement the four-year safeguard measures in the form of quotas. The import quota is 15,000 tons per year, and the involved products within the quota Safeguard tax will not be levied, and safeguard tax will be levied on CIF (CIF) for the involved products exceeding the quota, as follows: 27% from August 1, 2023 to July 31, 2024, and 27% from August 1, 2024 26% from July 31, 2025, 25% from August 1, 2025 to July 31, 2026, and 24% from August 1, 2026 to July 31, 2027. The products involved include macaroni, noodles and any other form of pasta.
morocco
Anti-dumping duties imposed on Chinese plywood
On July 11, the Ministry of Industry and Trade of Morocco issued an announcement, making the second anti-dumping sunset review affirmative final ruling on plywood originating in China, suggesting that the anti-dumping duties should continue to be imposed on the products involved, the tax rate adjusted to 76%, and the validity period is 5 Year. The products in question consist of veneers of Okoumé or other wood, each of which is not more than 6mm thick.
Australia
Imposing anti-dumping and countervailing duties on Chinese galvanized sheets
On July 3, the Australian Anti-dumping Commission announced that the Australian Minister of Industry and Technology passed the second anti-dumping and countervailing sunset review finalized by the Australian Anti-dumping Commission on galvanized steel sheets with a width greater than or equal to 600 mm imported from mainland China. According to the recommendation of the ruling, it is decided to continue to impose anti-dumping duties and countervailing duties on the products involved in mainland China from August 8, 2023.
Argentina
Continue to impose anti-dumping duties on Huadian heaters
On July 3, the Argentine Ministry of Economy issued an announcement, making the second anti-dumping sunset review affirmative final ruling on electric heaters originating in China, and decided to maintain the anti-dumping duties determined in the 2017 Announcement No. 378% of the FOB price of the product is subject to anti-dumping duties, valid for 5 years.
Anti-dumping duties imposed on Chinese rubber balloons
On July 6, the Argentine Ministry of Economy issued an announcement to make the affirmative final ruling of the first anti-dumping sunset review on rubber balloons originating in China, and decided to maintain the anti-dumping duties determined in the 2017 Announcement No. Products are subject to anti-dumping duties at 97% of their FOB prices, valid for five years.
Anti-dumping duties imposed on Chinese electric fans
On July 13, the Argentine Ministry of Economy issued an announcement to make the final ruling of the second anti-dumping sunset review on electric fans originating in China, and decided to maintain the anti-dumping measures determined by the former Argentine Ministry of Production in Announcement No. The product is subject to 164% anti-dumping duty. The products involved are desktop, wall-mounted and turbo fans with built-in motors, and the validity period is 5 years.
South Korea
Continue to impose anti-dumping duties on ferrosilicomanganese alloys from Vietnam and India
According to news from the Financial Associated Press on July 21, the Korean Ministry of Planning and Finance issued an announcement accepting the final ruling of the first sunset review of anti-dumping made by the Korean Trade Commission on imports of ferrosilicomanganese alloys from Vietnam, India and Ukraine, and decided to continue to impose sanctions on imports from Vietnam and Ukraine. Anti-dumping duties are imposed on ferrosilicon manganese in India.
Türkiye
Triple the fuel tax
According to the Financial Times, Turkey has tripled gasoline taxes. According to a notice published in the Turkish Official Gazette on July 16, the tax on regular gasoline was raised by about 200% to 7.53 lira per liter, and taxes on diesel and a range of other petroleum products were also raised. The tax hike has pushed up gasoline prices at service stations by about 20%, according to state oil company Turkish Petroleum.
Increased VAT rates on goods and services
According to the Turkish Official Gazette, Turkey announced that it will increase the value-added tax rate on goods and services from 18% to 20%.
nepal
2% luxury tax
“New News” reported on July 17 that the Nepalese government has decided to impose a 2% luxury tax on services provided by high-end hotels and resorts and imported alcohol and precious metals. The decision is now in effect. The government has made the announcement with the 2023-24 budget, which is tabled in Federal Parliament on May 29. The four- and five-star hotels and resorts began charging customers an extra 2 percent from mid-July.
Prepare to impose additional taxes on foreign tourism
Recently, the Nigerian tax department has released the work procedures for paying extra taxes and fees for foreign tourism. The measure aims to implement the requirement that Nepalese citizens pay a 5% tax when traveling abroad. According to the government, the regulation has two main objectives: one is to encourage Nepalese citizens to explore and experience domestic tourism, thereby promoting the development of local and domestic tourism; the other is to prevent capital flight caused by traveling abroad.
U.K.
Consider abolishing estate tax
According to the British “Times” report on July 14, Downing Street is negotiating the abolition of inheritance tax. The abolition of inheritance duty is being discussed at the highest levels of the British government, provided inflation falls sharply, two government sources have confirmed. They said it would be an election manifesto, not something to be implemented next year.
Cameroon
Garbage tax planned for capital
The “Invest in Cameroon” website reported on July 14 that with population growth and urban expansion, domestic waste in Yaounde, the capital of Cameroon, is increasing, and financial resources for waste disposal are becoming increasingly tight. To meet this challenge, the mayor of Yaounde plans to impose a waste tax on waste producers.
