Vietnam "completed" its draft amendments to various export and import tariffs, which includes a change to the “regulations on preferential import tax rates for raw materials, supplies and components to manufacture” goods for the auto industry, Vietnam Customs' mouthpiece CustomsNews said in an Aug. 22 report. The regulations include a zero percent “preferential import tax rate” for “domestic raw materials, supplies and components that have not yet been produced in the period of 2019-2023,” the report said. The report also clarifies how companies can qualify for the lowered import tax rate.
An Indian national was sentenced to prison after being convicted on charges of illegally importing thousands of packets of cigarettes and avoiding more than $120,000 (in Singapore dollars) in taxes, Singapore said in an Aug. 21 press release. Singapore said Veerappan Vimalraj stored more than 13,000 packets of duty-unpaid cigarettes and more than 10,000 “sachets of prohibited chewing tobacco” in a storage facility and routinely delivered the goods to customers in Singapore, who would try to avoid detection by not dealing with Vimalraj face to face for the transaction. Vimalraj was sentenced to about 19 months in prison.
Israel and South Korea signed a trade deal that will ease customs duties for both sides, Israel’s Ministry of Foreign Affairs said in an Aug. 21 press release.
Singapore Customs arrested two women for illegally importing counterfeit perfume and cosmetic products, Singapore said in an Aug. 20 press release. After finding a shipment with more than 200 counterfeit cosmetics products, Singapore officials carried out raids that uncovered more than 16,000 cosmetics products with fake trademarks worth more than $800,000 (in Singapore dollars), the press release said. Officials said the women planned to sell the products online. The women each face a maximum fine of $100,000 and a maximum prison sentence of five years.
China’s Haikou Customs is planning to speed up its customs clearance process through appointment clearances and dedicated channels for “fresh products to ensure fast cargo,” according to an unofficial translation of an Aug. 21 press release from China’s General Administration of Customs. Haikou Customs also plans to promote advance declarations “to achieve customs declarations that do not require inspection and quarantine … and can be released directly after the customs confirms the delivery of the transportation report.” The changes also aim to “reduce unnecessary paper circulation.”
Singapore Customs issued a notice Aug. 21 saying that certain “bullion coins” are exempt from the country’s Goods and Services Tax because they meet requirements as an Investment Grade Precious Metal. The coins -- in silver, gold or platinum, from Australia and the United Kingdom -- will be GST-exempt starting Sept. 1.
Vietnam issued a circular to update the rules of origin regulations under the recent agreement between the Association of Southeast Asian Nations and China, Vietnam Customs' mouthpiece CustomsNews said in an Aug. 20 report. Vietnam clarified how rules of origin apply to goods, “origin criteria for converting commodity codes at level of 4 digits” and regulations on the de minimis level. The circular will take effect Sept. 12.
China is adopting new measures to revise the rules of origin guidelines in its agreement with the Association of Southeast Asian Nations, China’s General Administration of Customs said in an Aug. 20 notice, according to an unofficial translation. The changes, which took effect Aug. 20, will help China “correctly determine the origin of import and export goods” under the agreement and “promote economic and trade exchanges between” China and ASEAN member countries. China said its customs agencies began accepting certificates of origin issued by ASEAN member countries on Aug. 1.
China is increasing import restrictions on fruit and vegetable products from Vietnam, Vietnam Customs' mouthpiece CustomsNews said in an Aug. 19 report. Vietnam said China’s recently released plans will “apply stricter requirements and standards” on Vietnam’s fruit and vegetable imports in addition to China’s requirements that all fruits are “given codes indicating both growing areas and their packaging facilities.” If Vietnam does not agree to the higher standards, China will reject “all certificates and codes granted by Vietnam,” the report said. Vietnam’s Plant Protection Department is urging all packaging facilities to “strictly follow the standards set forth by China,” the report said.
China is imposing “special safeguard measures” on eight Australian beef-related agricultural products, China’s General Administration of Customs said in an Aug. 17 notice, according to an unofficial translation. China said Australian beef imports on Aug. 15, under six tax codes, exceeded the quantity that can be imported in 2019. The country resumed taxing the imports under Most Favored Nation tariffs on Aug. 17.