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China Levies Anti-Dumping Tax on ROK Polyester Film
China's Ministry of Foreign Trade and Economic Cooperation (MOFTEC) will start to levy an anti-dumping tax for imported polyester film made in the Republic of Korea (ROK) as of August 25, MOFTEC announced Thursday in a final judgment.
Such dumping causes tangible damage to the domestic polyester film industry, MOFTEC said.
MOFTEC has decided that importers must pay relevant anti-dumping tax to China's customs when they import polyester film made in the ROK from August 25.
According to Notice No. 12 issued by MOFTEC in 1999, the cash margin paid by importers should be converted to tax in accordance with the anti-dumping taxation rates. Relevant parties can apply for returning excessive money from local customs within six months from August 25.
In line with China's rules on anti-dumping and anti-allowances, MOFTEC issued notices on April 16 and May 7 last year to start an anti-dumping investigation into imported polyester film made in the ROK.
MOFTEC and the General Administration of Customs jointly conducted the investigation, while the State Economic and Trade Commission and relevant departments of the State Council studied the degree of damage on China's domestic industry.
On December 29, 1999, MOFTEC issued a preliminary judgment notice, implementing temporary anti-dumping measures for polyester film imported from the ROK.
The anti-dumping measures will remain effective for five years.
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