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.
China issued clarification on import duty exemptions for certain equipment and machinery, according to an Aug. 19 report from the Hong Kong Trade Development Council. The report said imported equipment and machinery that falls within the Catalogue of Encouraged Industries for Foreign Investment’s “encouraged industries” are exempt from customs duties, but not import-related value-added taxes. VATs also still apply to all “equipment imported for direct self-use and any associated items imported with regard to said equipment within the total investment amount of an foreign-invested project,” the HKTDC said.
NVOs Can Cancel Supplemental Bonds for Services in China Under New Registration Process, NCBFAA Says
Non-vessel operating common carriers (NVOCCs) performing services in China no longer require a cash deposit at a Chinese bank or a supplemental bond on file with the Federal Maritime Commission to register with Chinese authorities, provided that they are licensed or registered with the FMC, according to an update emailed Aug. 19 by the National Customs Brokers & Forwarders Association of America. But they don’t have to cancel existing bonds either, the NCBFAA clarified.