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.



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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