Vietnamese EPS plastic beads exported to Indonesia are subject to self-defense tax for another 3 years

The safeguard tax on EPS resin to Indonesia is expected to continue to be applied for another 3 years, effective from December 23, 2024 to December 22, 2027 in the form of absolute tax.

Vietnamese EPS plastic beads exported to Indonesia are subject to self-defense tax for another 3 years

The safeguard tax on EPS resin to Indonesia is expected to continue to be applied for another 3 years, effective from December 23, 2024 to December 22, 2027 in the form of absolute tax.

The safeguard tax on EPS plastic beads to Indonesia is expected to continue to be applied for another 3 years.

The Department of Trade Defense ( Ministry of Industry and Trade ) said that Indonesia has extended its self-defense measures on imported EPS plastic beads, in which, Vietnamese EPS plastic beads continue to be subject to self-defense measures.

Previously, on July 22, 2024, the Indonesian Safeguards Commission (KPPI) announced the initiation of an investigation to extend the safeguard measure on EPS plastic pellets (HS code 39.3.11.10).

Most recently, KPPI announced the extension of safeguard measures on imported EPS plastic beads, in which Vietnam is not on the list of excluded developing countries.

According to Indonesian statistics, Taiwan's (China) import market share accounts for 47%, followed by China at 38% and Vietnam at 13% of total imports into Indonesia in 2023.

Based on the investigation, KPPI believes that the Indonesian domestic industry is still adjusting and the necessary safeguard measures are extended to remedy the damage.

Although there was a decrease in imports in both absolute and relative terms during the investigation period (2021 - 2023), the Indonesian domestic industry could not overcome the injury, as shown by a 3% decrease in domestic revenue leading to a 9% decrease in profits during the investigation period.

The safeguard tax is expected to continue to be applied for another 3 years, effective from December 23, 2024 to December 22, 2027, in the form of an absolute tax.

The specific tax rates are as follows: First year (December 23, 2024 - December 22, 2025): 2,352,478 rupiah/MT; Second year (December 23, 2025 - December 22, 2026): 2,328,473 rupiah/MT; Third year (December 23, 2026 - December 22, 2027): 2,304,468 rupiah/MT

The Trade Defense Department recommends that businesses and relevant associations continue to monitor the situation to make appropriate adjustments to production and export activities to the Indonesian market.

EPS plastic granules are products applied in many different areas of life. Accordingly, EPS plastic can be used to produce foam blocks, soundproof and heat-insulating panels in the house such as PANEL corrugated iron, wall lining, ceiling, etc.

EPS plastic beads are also used in the production of packaging for electronic and refrigeration equipment, packaging for porcelain, ceramics, glass, to resist strong impacts and help protect products.

Source: https://baodautu.vn/hat-nhua-eps-viet-nam-xuat-sang-indonesia-bi-ap-thue-tu-ve-them-3-nam-d231534.html