September 15, 2010
Import tax exemption for Vietnam's Bianfishco to remain until 2012
The US Department of Commerce (DOC) has agreed to continue exempting import tax on tra fish from Binh An Seafood Joint Stock Company (Bianfishco) until 2012.
This is the second time the Vietnamese firm have enjoyed the 0% tax when exporting its pangasius to the US. If the tax exemption is extended in the third time after 2012, Bianfishco will enjoy the tax exemption forever.
Bianfishco, which is among top 10 pangasius exporters in Vietnam, is also the first seafood firm in the country to enjoy the import tax exemption.
Meanwhile, the Vietnam Association of Seafood Exporters and Producers (VASEP) said that the DOC will likely raise anti-dumping tariffs on tra fish imported from Vietnam to between 0% and 136%, in the sixth administrative review running from Aug 1, 2007 to July 31, 2008, from current 0.1% and 0.52%.
Vinh Hoan Joint Stock Company (VHC), another exporter in the top list, said that it will sue the DOC if its tra fish is levied the anti-dumping tax. The company was exempted from the tax in the fifth review.