UPDATED 17 APR 2023, 11:37 PM SGT SINGAPORE – Singapore’s key exports posted a much smaller drop than expected in March, but economists say that while the worst may be over, the outlook remains gloomy. Exports are likely to remain around current weak levels in the coming months, with the United States and the euro…
July 13, 2022 The tech firm wrongfully used duty exemptions for items imported for use in mobile phone production, said India’s Directorate of Revenue Intelligence Chinese smartphone manufacturer Oppo evaded $551 million worth of Indian customs duty, a government statement said on Wednesday. A probe by India’s Directorate of Revenue Intelligence found that the smartphone maker wrongfully…
Hanoi (VNA) – The British Government handed over the Vietnam national trade repository (VNTR) to the Vietnamese side at a ceremony on July 13. The project was launched in 2020 under a letter of intention signed by the Vietnamese Ministry of Industry and Trade (MoIT) and the British Department of International Trade, in which the British side provided technical assistance for Vietnam.…
Imported supplies such as vegetables, fruit, milk, milk powder and beef have been quickly cleared and transferred during the ongoing COVID-19 resurgence in Shanghai, according to Shanghai Customs. A cargo of pumpkins from New Zealand, weighing 25.6 tons, passed through customs smoothly at Waigaoqiao port area after quarantine inspection on March 29. In addition, the…
Both exports and imports grew for the Lion City for February 2022, according to the latest data from Enterprise Singapore. Total exports increased by 22.3%, following the previous month’s 22.1% growth. Total imports grew by 19.6%, following the 28.2% expansion in January 2022. On a seasonally-adjusted basis, the level of total trade reached $109b in…
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…
MIAMI (AP) — Sanctions on Russia are starting to wreak havoc on global trade, with potentially devastating consequences for energy and grain importers while also generating ripple effects across a world still struggling with pandemic-induced supply chain disruptions. Since Russia’s invasion of Ukraine, hundreds of tankers and bulk carriers have been diverted away from the Black Sea, while…
