Customs 'loopholes' fuel steel supply battle in Turkey

Apr 23, 2012 | 04:38 AM |

Inconsistencies in Turkey’s customs policy are allowing foreign steel suppliers to exploit tax loopholes and put pressure on local prices, the chairman of local steelmaker Erdemir has said, while the domestic industry is lobbying for higher duty rates. “There are some surprising points in the customs regulations at present,” Fatih Tar, head of the board at the Turkish mill, told reporters last week. “For instance, we have customs duty of 9% for coil 1.5m wide. Thanks to gaps in the customs regulations, you can import the same coil at zero tax if you cut it into strips 20-30cm wide,” he explained. “It makes a double loss for Turkey,” he added. “We miss both the tax and the....





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