We would like to bring you notable customs updates for January 2022 with the following highlights influencing the import-export activities:
In this issue, there are notable topics covered as following:
- New guide on price consultation process and supplementing documents
- Export Processing Enterprises (“EPE company”) must declare and pay tax for their goods before transforming company type
- EPEs allowed to rent warehouses located outside industrial parks, export processing zones, hi-tech zones, economic zones to store imported materials / supplies and manufactured products
- Special-preferential tariff schedule (“FTA duty rate”) is not applicable during the waiting time of C/O verification
- Amending and supplementing regulations on goods labeling
- New guidance on certificate of goods origin under UKVFTA
- Analysis and classification result of past shipments can only be used for future shipments of identical imported goods
- New guidance on declaring imported software after the import of machinery / equipment of which HS code is declared following the HS code of main machine
- Allow late submission of documents in Customs dossier up to 30 days
For regulation changes and tax matters, we can provide you with assistance on:
- Registration, declaration of Personal Income Tax, Corporate Tax, VAT and Foreign Contractor Tax.
- Tax refunds assistance and representation.
- Consultancy on utilizing opportunities provided by transfer pricing.
- Customs Advisory: Compliance & Reporting; FTA and C/O; Harmonised System code classification and valuation; Inventory control; International trade arrangement; and Others.
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