Turkey to apply temporary measures on VN yarn

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Turkey’s General Directorate for Imports has issued a notice on applying temporary anti-tax avoidance measures on Partially Oriented Yarn imported from several countries, including China and Viet Nam..

Turkey decides to apply anti-tax avoidance measures on POY products imported from Viet Nam. — Photo ndh.vn

Turkey’s General Directorate for Imports has issued a notice on applying temporary anti-tax avoidance measures on Partially Oriented Yarn (POY) imported from China, India, Malaysia, Indonesia, Taiwan, Thailand and Viet Nam, according to the Viet Nam Competition Authority.

Turkey said the temporary measure stems from a significant increase in the imports of these products in the period 2010 - 2016. The plaintiff is Korteks Mensucat ve Sanayi Anonim Şirketi.

Under the notice, POY products imported from Viet Nam will be taxed at a rate of 36.28 per cent.

Turkey is one of Viet Nam’s largest trade partners in West Asia.

Last year, bilateral trade between two countries reached US$1.5 billion: Viet Nam exported over $1.33 billion worth of goods and imported approximately $170 million worth of commodities.— VNS

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