Ministry of Commerce Announcement No. 15 of 2023 Announcement on Thai Petroleum Global Chemicals Co., Ltd.'s Inheritance of PTT Phenol Co., Ltd.'s Applicable Tax Rate in Phenol Anti-dumping Measures
【Publisher】Trade Remedy Bureau
[Issuing Document Number] Ministry of Commerce Announcement No. 15 of 2023
【Date of publication】April 26, 2023
On March 24, 2023, the Ministry of Commerce received a request from PTT Global Chemical Public Company Limited), the company requested to succeed PTT Phenol Co., Ltd. (PTT Phenol Company Limited) applicable anti-dumping duty rates and other rights and obligations in the anti-dumping measures imposed on imports of phenol originating in the United States, the European Union, South Korea, Japan and Thailand. The Ministry of Commerce conducted an investigation and made a decision on the inheritance tax rate. The relevant matters are hereby announced as follows:
1. Applicable tax rate for PTT Phenol Co., Ltd.
On September 3, 2019, the Ministry of Commerce issued Announcement No. 37 of 2019, deciding to impose anti-dumping duties on imports of phenol originating in the United States, the European Union, South Korea, Japan and Thailand, and the implementation period is 5 years. Among them, the applicable anti-dumping duty rate of PTT Phenol Co., Ltd. is 10.6%.
2. Investigation procedure
On March 24, 2023, Thailand Petroleum Global Chemical Co., Ltd. submitted an application to the Ministry of Commerce, stating that from February 1, 2023, its wholly-owned subsidiary PTT Phenol Co., Ltd. will transfer all business including phenol to Thai National Petroleum Global Chemical Co., Ltd. therefore requested to inherit the rights and obligations of PTT Phenol Co., Ltd. in the phenol anti-dumping measures, and submitted the registration documents of the two companies, the articles of association, the resolution of the board of directors on business transfer, the application for tax changes and The tax authority accepts the confirmation letter, the company's business transfer notice, all business transfer agreements, the list of shareholders before and after the business transfer, the list of the board of directors, the list of production equipment, the list of raw material suppliers, the list of domestic sales in Thailand and the list of export customers to China, and other certification materials and registration Documents notarized by the Thai government and certified by the Chinese embassy in Thailand.
The Ministry of Commerce notified the Chinese phenol industry of the above application matters, and the Chinese phenol industry did not object to this.
3. Determination of inheritance tax rate
After review, the Ministry of Commerce believes that the company's application meets the requirements and the corresponding evidence is attached. Its operation and management of phenol has changed from indirect control to direct management. The company's production capacity, supplier relationship and customer base before and after the business transfer have not occurred. Variety.
Accordingly, the Ministry of Commerce decided:
(1) By PTT Global Chemical Public Company Limited) inherited PTT Phenol Co., Ltd. (PTT Phenol Company Limited) in the 10.6% anti-dumping duty rate and other rights and obligations applicable to the phenol anti-dumping measures.
(2) PTT Phenol Co., Ltd. (PTT Phenol Company Limited) to export phenol to China, the 28.6% anti-dumping tax rate of "other Thai companies" in the phenol anti-dumping measures is applicable.
4. This announcement will come into force on April 27, 2023
People's Republic of China Ministry of Commerce
April 26, 2023
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