EU decides to impose anti-regulation tax avoidance on fasteners exported through Malaysia
On July 15, 2011, the WTO Appellate Body issued a final report adjudicating that China won the EU anti-dumping case on fasteners . However, just as the Chinese fastener industry was excited by the final outcome of the WTO, there was an unfavorable news from the EU: On July 18, the European Union Council decided to use fasteners exported to Malaysia. Anti-tax avoidance is imposed on products and the tax rate is as high as 85%. It is expected to take effect on July 26. Is it just a coincidence or three days apart that it is a coincidence? According to a report by Bloomberg on July 18, the EU Council has already passed the European Commission’s proposal to levy 85% anti-dumping duties on steel fasteners exported to the EU by Malaysia. Among them, 8 exporters are exempt from anti-dumping duties. It is expected that the official journal of the European Union will formally issue the anti-dumping regulations on July 26th. The anti-dumping duties will take effect on the day of the issuance of the regulations, just before the 9-month investigation deadline for anti-circumvention investigations. The proposal submitted by the European Commission to the Council includes the trial regulations. The trial regulations stated that Malaysian exporters want to be able to exempt this anti-dumping duty, and the European Commission will increase the number of exempt exporters from the original seven to eight. Seven of the known exporters include: Sofasco Industries, Chin Well Industries, Tigges Fastener Technology, United Bolt and Nut, Acku Metal Industries, Power Steel and Electroplating, TI Metal Forgings. The trial regulations also clearly show that 85% of anti-dumping tariffs have retrospective effect, and will also include fastener products imported from Malaysia registered by the customs authorities of member countries since the EU announced the commencement of anti-circumvention investigation on October 28, 2010. .
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