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Why was POSCO VST Company suspended from applying for priority businesses?
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(HQ Online) - On October 3, 2023, the General Department of Customs issued Decision 2446/QD-TCHQ suspending the application of priority enterprise regime for POSCO VST Company Limited.
The suspension period for POSCO VST Co., Ltd. (Nhon Trach 1 Industrial Park, Nhon Trach district, Dong Nai province, a Korean FDI enterprise) takes effect from today (October 3, 2023).
POSCO VST Co., Ltd. was suspended from applying the priority enterprise regime because it no longer met the internal control conditions (as prescribed in Clause 3, Article 10 of Decree 08/2015/ND-CP).
More specifically, through post-customs clearance inspection results, the Customs agency discovered that the Company sold a quantity of steel imported duty-free into the domestic market but did not declare the change in use according to regulations.
POSCO VST Co., Ltd. operates in the field of stainless steel production and was recognized as a priority enterprise in 2017.
Previously, in August 2023, the General Department of Customs decided to suspend the application of preferential enterprise regime in the customs field for Saigon Precision Co., Ltd. (Saigon-Linh Trung Export Processing Zone, Ho Chi Minh City) due to the Company does not meet the conditions for compliance with customs and tax laws as prescribed in Clause 1, Article 10 of Decree 08/2015/ND-CP.
Thus, there are currently 72 enterprises nationwide that are applying the priority enterprise regime.
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18/8/2025
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