What are the rules for applying safeguard duties in Vietnam? How long is the application period of safeguard duties?
What are the rules for applying safeguard duties in Vietnam?
Pursuant to the provisions of Clause 2, Article 14 of the Law on Export and import duties 2016, it is stipulated as follows:
Safeguard duties
1. Conditions for applying safeguard duties:
a) The volume, quantity or value of imports drastically increases compared to the volume, quantity, or value of like or directly competitive domestic goods;
b) The increase of volume, quantity or value of imports mentioned in Clause a of this Clause causes or threatens to cause considerable damage to domestic manufacturing of like or directly competitive goods or prevents the formation of domestic manufacturing.
2. Rules for applying safeguard duties:
a) Safeguard duties may only be applied to a reasonable extent to prevent or minimize serious damage to domestic manufacturing and facilitate the improvement of competitiveness of manufacturing;
b) The application of safeguard duties shall take into account the investigation conclusion, unless temporary safeguard duties are applied;
c) Safeguard duties are applied in a non-discriminatory manner and regardless of goods origins.
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Thus, based on the above regulations, the rules for applying safeguard duties:
- Safeguard duties may only be applied to a reasonable extent to prevent or minimize serious damage to domestic manufacturing and facilitate the improvement of competitiveness of manufacturing;
- The application of safeguard duties shall take into account the investigation conclusion, unless temporary safeguard duties are applied;
- Safeguard duties are applied in a non-discriminatory manner and regardless of goods origins.
What are the rules for applying safeguard duties in Vietnam? How long is the application period of safeguard duties?
How long is the application period of safeguard duties in Vietnam?
Pursuant to the provisions of Clause 3, Article 14 of the Law on Export and import duties 2016, it is stipulated as follows:
Safeguard duties
1. Conditions for applying safeguard duties:
a) The volume, quantity or value of imports drastically increases compared to the volume, quantity, or value of like or directly competitive domestic goods;
b) The increase of volume, quantity or value of imports mentioned in Clause a of this Clause causes or threatens to cause considerable damage to domestic manufacturing of like or directly competitive goods or prevents the formation of domestic manufacturing.
2. Rules for applying safeguard duties:
a) Safeguard duties may only be applied to a reasonable extent to prevent or minimize serious damage to domestic manufacturing and facilitate the improvement of competitiveness of manufacturing;
b) The application of safeguard duties shall take into account the investigation conclusion, unless temporary safeguard duties are applied;
c) Safeguard duties are applied in a non-discriminatory manner and regardless of goods origins.
3. Safeguard duties shall be applied for a period not exceeding 4 years, including the period of applying temporary safeguard duties. The period of application of safeguard duties may be extended for up to 06 more years if serious damage or the threat of serious damage to domestic manufacturing still remains and there is evidence that the manufacturing is improving its competitiveness.
Thus, based on the above regulations, the safeguard duties shall be applied for a period not exceeding 4 years, including the period of applying temporary safeguard duties.
The period of application of safeguard duties may be extended for up to 06 more years if serious damage or the threat of serious damage to domestic manufacturing still remains and there is evidence that the manufacturing is improving its competitiveness
What are the conditions for applying safeguard duties in Vietnam?
Pursuant to Clause 1, Article 14 of the Law on Export and import duties 2016, the conditions for applying safeguard duties:
- The volume, quantity or value of imports drastically increases compared to the volume, quantity, or value of like or directly competitive domestic goods;
- The increase of volume, quantity or value of imports mentioned in Clause a of this Clause causes or threatens to cause considerable damage to domestic manufacturing of like or directly competitive goods or prevents the formation of domestic manufacturing.
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