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EY Customs & Global Trade Update | May 2022
We are delighted to offer the Customs and Global Trade Update which covers the followings:
- Guidance on trade remedies under The Regional Comprehensive Economic Partnership Agreement (RCEP)
- Approval for the strategy on importation and exportation toward 2030
- Guidance provided in an Official Letter (OL) of the General Department of Customs (GDC), including:
- Customs supervision and inspection of Export Processing Enterprises (EPEs)
- Import duty applicable for goods imported under the form of on-the-spot for manufacturing and processing
- Type of customs declaration and import duty refund
- Customs audits on goods which are imported for combating COVID-19
- Tax and duty treatment for goods temporarily imported for processing
- Applying the new regulations on special consumption tax (SCT) from 1 March 2022
- Customs procedures on goods exported from a Bonded Warehouse (BW) of an Authorized Economic Operator (AEO)
- Value Added Tax (VAT) refunds and export duty applicable for imported goods upon re-exportation
- Guidance on VAT declaration for dutiable goods
- Certificate of origin for goods subject to anti-dumping tax
- Tax and duty treatment for goods delivered to an EPE for processing
- Guidance on C/O Form D issued from 1 May 2022
Your enquiries, comments or suggestions concerning our Updates are welcome. Any enquiries regarding the content of this issue may be directed to your regular EY contacts or the contacts mentioned in this Update.
Thank you & kind regards,
EY Consulting VN