Breakfast Event - Workshop Finance&Controlling SUZHOU:" Customs update and challenges on outbound payment from Customs valuation perspective"

On 28 June 2017, the General Administration of Customs (“GAC”) issued Announcement of the General Administration of Customs on the Implementation of National Customs Clearance Integration Regime Reform, announcing that the Customs Clearance Integration Regime Reform will be rolled out on a nationwide basis, effective from 1 July 2017. By introducing the "two centers" and "three systems" in the reform, it has bring significant changes in terms of customs supervision approach from PRC Customs perspective:

e.g. 1) The importer/exporter has more responsibilities with respect to the calculation, declaration and payment of the applicable duty/import VAT;

2) GAC expects to conduct uniform inspection and risk review of importations nationwide, to minimize the inconsistency of regulation enforcement by local Customs.

3) In addition, in recent years, the Customs launch special audit which would put a higher onus on importers/exporters to comply with the applicable customs laws and regulations. Specifically, pertaining to the Customs Valuation, it would not only be limited to the adjustment for transaction value, but it also would put more emphasis on examining whether and to what extent the out-bound payment of royalties/service fee shall be incorporated into the dutiable value of import goods and the potential impact on the transaction value arising from the "special relationship" between importers and exporters.

In light of this, we would like to take this opportunity to sincerely invite you to join the workshop on March 19, 2018 and discuss the changes of Customs and recent hot topics relevant to the outbound payment from Customs Valuation perspective.