There could be upwards of 100 million customs declarations not made post-implementation, according to head of international trade and customs at Fujitsu, Frank Dunsmuir. Fujitsu hosts the CHIEF customs declaration system. He told The Loadstar that “easily around £30bn” of VAT had been lost due to HMRC’s six-month (175-day) delay on declarations for goods imported between 1…
SINGAPORE: A freight forwarding company director was fined S$105,000 last week for fraudulently evading the payment of Goods and Services Tax (GST), as well as for abetting a consignee to furnish false information to Singapore Customs. Tang Yong Hoe, 43, is the sole director of I-Do Logistics, Singapore Customs said in a news release…
As of 18 November 2021, the online version of the 2022 edition of the Harmonized System Nomenclature is available through the WCO Website to all HS users. The HS 2022 edition, as the world’s global standard for classifying goods in international trade, will enter into force on 1 January 2022. Used by over 200 countries and…
‘Too many approvals for customs clearance a barrier to trade’ According to country’s first Bangladesh Business Climate Index Approvals from some 39 government agencies are required for customs clearance of any product at Chattogram port, which is a major barrier to trade, according to the Bangladesh Business Climate Index (BBX). And the port faces severe…
21 September 2021 – A recent export enforcement case describes a common compliance challenge faced by many U.S. companies. In this case,[1] a California company manufactured electronic test and measurement equipment for both commercial and government customers. The company failed to identify that one of its software products was listed on the U.S. Munitions List and…
21 September 2021 – U.S. Customs and Border Protection has found that a group of cabinet importers is evading antidumping and countervailing duty orders on Chinese products by transshipping them through Malaysia. The story begins in April 2020, when the Kitchen Cabinet Manufacturers Association won one of the largest anti-dumping cases ever brought against China. The ITC unanimously found…
20 September 2021 – China is the joint number one territory that Britain imports from, accounting for 12% of imports. Here is what you need to do if you want to import from China For the UK, the desire to import goods from China is vast. China was the joint-first biggest single country that the…
20 September 2021 – It is UK government “unreadiness” that is the source of further delays to Brexit customs procedure implementation, while associations, brokers, forwarders, ports, and retailers are “ready”. Last week the UK government announced that it would further delay the implementation of export health certificates, phytosanitary (SPS) certificates and safety and security declarations…
10 September 2021 – SINGAPORE A company director has been fined S$50,000 for evading Goods and Services Tax (GST) on shipments of LED flashlights and other accessories, Singapore Customs said on Friday (Sep 10). Kong Ming Jie, 36, incorrectly declared the value of goods in the shipments. He also failed to retain documents relating to the imports,…
1 September 2021 – More than 2,000 hauliers were fined for not having the correct export documentation in the four months following the end of the transition period. The UK completed its departure from the EU’s single market and customs union on New Year’s Eve, meaning exporters had to comply with new rules to continue…
