[Global IDT Insights] EU Imposes Anti-Dumping Duties on Hot-Rolled Steel Imports

Editorial Team, – [2025] 179 taxmann.com 114 (Article)

Global IDT Insights provides a weekly snippet of tax news specifically related to Indirect Taxes from around the globe.

1. EU imposes definitive anti-dumping duties on hot-rolled steel imports from Egypt, Japan, and Vietnam

The European Union (EU) has concluded its investigation and imposed anti-dumping duties on hot-rolled flat steel products from Egypt, Japan, and Vietnam following findings that these imports were being sold at unfairly low prices.

These duties will remain in effect for five years, ranging from 11.7% for Egypt, 6.9% to 30% for Japan, and 12.1% for Vietnam. Provisional duties that had been in place since 07-04-2024 will not be collected retroactively.

The investigation into imports from India was closed without imposing duties, as no evidence of dumping was found.

The EU steel industry impacted by these measures spans multiple member states such as Austria, Belgium, Czech Republic, Finland, France, Germany, Hungary, Italy, the Netherlands, Poland, Romania, Slovakia, Slovenia, Spain, and Sweden and employs around 38,000 people.

Source- Official News

2. Singapore to Mandate E-Invoicing via InvoiceNow for GST-Registered Businesses

The Inland Revenue Authority of Singapore (IRAS) has announced the gradual implementation of mandatory electronic submission of invoice data through InvoiceNow-Ready Solutions for GST-registered businesses.

The phased rollout is as follows:

• From 01-11-2025: Applies to newly incorporated companies that voluntarily register for GST.
• From 01-04-2026: Extends to all new voluntary GST registrants.

In addition, early voluntary adoption will be available from 1 May 2025. From this date, IRAS encourages all GST-registered businesses and applicants to adopt InvoiceNow-Ready Solutions for transmitting invoice data.

Looking ahead, IRAS intends to progressively extend mandatory participation to new compulsory GST registrants as well as existing GST-registered businesses. The authority will continue engaging with industry stakeholders and reviewing feedback before announcing further implementation details.

Source – Official News

Click Here To Read The Full Article