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Navigating Customs Duties: Essential Legal Insights Customs duties are a pivotal component of international trade, involving the taxes imposed on goods as they cross national borders. These duties are essential for generating government revenue, protecting domestic industries, and regulating trade. For businesses engaged in global trade, a thorough understanding of customs duties is vital to avoid legal pitfalls and ensure efficient operations. The Fundamentals of Customs Duties Customs duties, also known as tariffs, are taxes levied on goods imported into a country. They serve multiple purposes: generating revenue for the government, protecting domestic industries from foreign competition, and regulating the flow of goods. Customs duties can be categorized into several types: Ad Valorem Duties: These are calculated as a percentage of the value of the imported goods. Specific Duties: These are based on the quantity or weight of the goods, irrespective of their value. ... #Attorneys.Media #customsduties #exportcontrols #globaltrade #importregulations #internationalbusiness #InternationalTradeLaw #legalconsultation #legalinsights #tradecompliance #tradelaw #TradePolicies #BusinessLaw #ComplianceViolations #EconomicPolicy #InternationalLaw #RegulatoryCompliance #TradeLaw

The imposition of the customs duty serves several key purposes, which are: 1. Conserving Foreign Exchange: One of the primary objectives of the Customs Act is to regulate imports in a way that helps conserve the country’s foreign exchange reserves. By controlling the flow of imports, the Act aims to strike a balance between meeting domestic demand and preserving valuable foreign currency. 2. Achieving Policy Objectives: The Act serves as a tool for the government to implement its policies related to imports and exports. It allows the authorities to regulate the movement of goods across borders in alignment with the nation’s economic and strategic interests. 3. Regulating Exports: Just as it regulates imports, the Customs Act also provides a framework for regulating exports. This ensures that the export of goods is carried out in a controlled and organised manner, benefiting both the economy and the industries involved. 4. Coordinating with Other Laws: The Customs Act works in coordination with other laws related to foreign trade and foreign exchange, such as the Foreign Trade Act and the Foreign Exchange Regulation Act. This ensures a cohesive and consistent approach to managing international trade. 5. Safeguarding Domestic Trade: By regulating imports and exports, the Customs Act aims to protect domestic trade and industries from unfair competition or practices that could harm the local market. Protecting Revenue: The Act plays a crucial role in protecting the government’s revenue by ensuring that appropriate duties and taxes are collected on imported goods, thus contributing to the nation’s fiscal resources. 6. Protecting Indian Industries: The Customs Act helps protect Indian industries from unfair competition by regulating the import of goods that could potentially undermine domestic production and employment. 7. Preventing Smuggling: One of the key objectives of the Act is to prevent the smuggling of goods and related illegal activities, which can have serious economic and security implications for the country. 8. Preventing Dumping: The Act aims to protect Indian industries from the dumping of goods by foreign producers, which involves selling products at artificially low prices to gain an unfair market advantage. For the access to the complete article. Please visit our website : https://lnkd.in/gAvNbf5T The information provided here and across our online platforms is designed for educational and informational use only. It does not constitute professional advice. For guidance specific to your situation, please seek the expertise of a qualified legal professional.

Customs/032/2024 Subject: When is customs duty imposed? What is the threshold for duty exemption or the de minimis limit for imported goods? What are CD and RD rates? What is the maximum amount of RD the government can impose? How long does the RD remain applicable after imposition? Customs Duty: (a) Section 18 of the Customs Act, 1969 discusses dutiable goods. (b) Duties are imposed on goods imported into or exported from Bangladesh. The rates at which customs duty (CD) and regulatory duty (RD) will be imposed are specified in the law or in the Bangladesh Customs Tariff (BCT). (c) For example, in the case of importing footballs, the customs duty is 10% and the regulatory duty is 0%. On the other hand, for the import of unhusked rice, the customs duty is 25%. (d) It should be noted that besides these, other duties and taxes such as supplementary duty, value-added tax, advance income tax, and advance tax must also be paid. Duty Exemption or De Minimis Threshold: (a) No duty needs to be paid if the value of any consignment is less than Tk. 2,000 or the total duty is less than Tk. 2,000. This is the de minimis threshold Types of CD and RD Rates: (a) CD and RD are types of import duty. There are a total of 6 types of CD rates, namely 0%, 1%, 5%, 10%, 15%, and 25%. (b) There are a total of 9 types of RD rates, namely 0%, 3%, 5%, 10%, 15%, 20%, 25%, 30%, and 35% Maximum RD Rate: (a) Through a government notification in the government gazette, the government can impose double the maximum rate of CD as RD. (b) Currently, the maximum rate of CD is 25%, so the government can impose RD up to 50%. However, the current maximum RD rate is 35%. (c) The RD imposed remains applicable until the end of the financial year in which it is imposed Md. Delowar Hossain Mondol 12.03.2024

Customs Controls in Turkey: Regulations and Practices Customs Control in Turkey plays a critical role in regulating the flow of goods across borders, ensuring compliance with national laws and international trade agreements. It involves a range of activities, including inspection of goods, collection of tariffs and taxes, enforcement of import/export restrictions, and prevention of smuggling. Turkey’s customs system is governed by Customs Law No. 4458, which aligns with the EU Customs Code and global trade standards. Secondary legislation, including regulations and communiqués, provides detailed guidelines for customs procedures, risk management, and dispute resolution. Businesses operating in Turkey must navigate customs controls carefully to optimize processes, avoid penalties, and maintain compliance. Bıçak Customs and Foreign Trade Services team aims to support companies in matters such as compliance and risk management in customs transactions, predictability of costs in transactions and increased efficiency, effective relationship management with authorities, and rapid support for operational foreign trade transactions. https://lnkd.in/dCtUGmnf @CustomsControlTurkey

Latest news on customs and foreign trade law The following compilation of current reports on customs and foreign trade law does not claim to be complete. The EU Commission wants to generally order customs monitoring of imports in the future November 14, 2024 The European Commission decided at the end of September 2024 to generally order customs registration for all imports of goods that are the subject of anti-dumping or anti-subsidy investigations. This is intended to strengthen trade policy protection instruments. The corresponding communication from the EU Commission can be found here. The customs registration of imports of goods that are the subject of an investigation enables, under certain conditions, the retroactive collection of anti-dumping and countervailing duties up to the start of customs registration. However, the decision on retroactive collection is not automatic, but is only made in the final phase of each investigation. This requires the issuance of a regulation. According to Article 14(5) of the basic anti-dumping regulation and Article 24(5) of the basic anti-subsidy regulation, imports are registered at the request of the Union industry, which contains sufficient evidence to justify this action. Imports can also be registered at the initiative of the Commission. In previous practice, customs registration was usually ordered at the request of the Union industry concerned. In the future, the Commission generally intends to act on its own initiative. Since the beginning of October 2024, the notices of initiation have contained a corresponding reference at the end of the "procedure" section. Combined Nomenclature 2025 1 November 2024 The European Commission has published the latest version of the Combined Nomenclature (CN), which will apply from 1 January 2025. The Combined Nomenclature is the basis for the declaration of goods (a) upon import or export or (b) for intra-EU statistical purposes. The classification of the goods determines the applicable customs duty and the manner of statistical treatment. The CN is therefore a fundamental working tool for both the economy and the administrations of the Member States. The Combined Nomenclature finds its legal basis in Council Regulation (EEC) No 2658/87 on the customs and statistical nomenclature and on the Common Customs Tariff. It is updated annually and published as a Commission Implementing Regulation in the EU Official Journal (L series). The latest version was published as Commission Regulation (EU) 2024/2522 in the EU Official Journal 2024/2522 L series of 31 October 2024. It applies from 1 January 2025.

Alinea Customs contributed a 2024 Guide to Customs Compliance and Moving Goods Between Borders to Trade Finance Global (TFG).   The article addresses areas of customs compliance to consider when moving goods between borders, including tariff classification, customs valuation and rules of origin, and the associated multilateral agreements and conventions which ensures trade is for the most part harmonised. It also reflects briefly on the concept of pacta sunt servanda – “agreements must be kept” in relation to international trade, the current Red Sea crisis, and the underlying contracts of sale; and increased requirements for scrutiny of areas to consider, for example, liability for damages which may be incurred due to the late arrival of goods, on the basis of increased costs or an extended timeframe of delivery. The article is available to read at: https://lnkd.in/eYgz2F5B #customscompliance #customs #ukcustoms #redseacrisis #internationaltrade #theinternationalsaleofgoods #tradefinance #insurance #logistics #commerciallaw

As businesses expand globally, comprehending customs regulations becomes vital. The Indian Customs Act 1962 governs imports and exports, ensuring adherence and fostering trade ties. Recent talks on Free Trade Agreements (FTAs) and potential rule amendments have implications for business customs operations. This piece explores FTA advantages and forthcoming changes under the Indian Customs Act 1962. Understanding Free Trade Agreements (FTAs): FTAs are pacts between nations aiming to boost trade by slashing tariffs and trade barriers. India has inked various FTAs with countries like ASEAN, Japan, and South Korea. These pacts offer perks such as reduced tariffs, simplified customs, and market expansion. Benefits of FTAs for Businesses: Tariff Reduction: FTAs slash tariffs on specific goods, saving costs for businesses. Market Access: FTAs ease entry into foreign markets, broadening customer reach. Competitive Edge: Preferential tariff rates under FTAs enhance product competitiveness. Streamlined Procedures: FTAs simplify customs processes, cutting down paperwork and clearance times. Upcoming Rule Changes in Indian Customs Act 1962: While FTAs are advantageous, businesses must track customs law updates. The Indian government plans to digitize customs operations, bolster risk management, and introduce trade facilitation measures. Stricter compliance enforcement is also on the cards. FTAs offer significant trade advantages, but businesses must adapt to evolving customs regulations. Staying informed about rule changes is crucial for Tax compliance and efficient trade operations. By leveraging FTA benefits and adjusting to regulatory shifts, businesses can thrive in the global market. #internationaltrade#freetradeagreements#taxcompliance#riskmanagement #trademacilitationmeasures

The Customs (Miscellaneous Amendments) (No. 2) Regulations 2024 - Customs rules The below is quite an interesting proposal that will change the overpayment process as we know it (C285's etc). From what i read, if you process a reclaim for duty you believe you have overpaid, which at the time of applying, the lower rate of duty is no longer applicable, it will be refused by HMRC. I see two main practical cases this may apply to : Scenario 1 : You applied to change a commodity code to a duty rate that was applicable at the time of import in 2023, the new commodity code had an updated rate of duty as of January 1st, 2024 and you submitted the reclaim on January 22nd, 2024. As the new rate is higher; you will only be able to reclaim against the new rate of duty which applies to the commodity code at the time of application (this may be higher than your original HS duty rate!). Scenario 2: Your application is to retrospectively apply preference to a shipment you imported in 2023 as you were unaware at the time of import this was an option. You now make an application in 2024 providing your origin statement &/or preference document (EUR1 etc), only to understand : - A suspension/withdrawal is currently in place under the FTA for the commodity code and your application is refused (we have seen this happen with Cambodia). - The duty rate was increased before your application was submitted in 2024 and now results in your reclaim being lower than originally anticipated or refused! Im sure there are more examples than this but some food for thought! #customs #HMRC #import https://lnkd.in/exK3EjRd

 ZATCA Issues the fees rules on customs services provided at Customs ports - effective implementation on 06 October 2024. The Zakat, Tax and Customs Authority (ZATCA) has announced the issuance of a decision by its Board of Directors regarding the Fee Rules on Customs Services, which includes specifying the fees on customs services provided by ZATCA and the conditions for fulfilling them. The decision involves waiving the fees for all customs services for exports and reducing customs service fees for imports through a new mechanism for calculating import service fees, which involves a fee of 0.15% of the value of the incoming goods for customs declaration processing services. In addition, the Fee Document on Customs Services stipulates a fee of SAR 15 for customs declaration processing services on individuals’ shipments arriving through online stores, provided that the value of these shipments does not exceed SAR 1,000. #KSA #Customsduty #ZATCA https://lnkd.in/eZXtMv57

EU Commission wants to order customs monitoring of imports in the future At the end of September 2024, the European Commission decided to order customs registration for all imports of goods that are the subject of anti-dumping or anti-subsidy investigations. This is intended to strengthen trade protection instruments. Customs registration of imports of goods that are the subject of an investigation enables, under certain conditions, the retroactive collection of anti-dumping and countervailing duties up to the start of customs registration. However, the decision on retroactive collection is not automatic, but is only made in the final phase of each investigation. This requires the adoption of a regulation. According to Article 14(5) of the Basic Anti-Dumping Regulation and Article 24(5) of the Basic Anti-Subsidy Regulation, imports are registered at the request of the Union industry, which provides sufficient evidence to justify this action. Imports can also be registered at the Commission's initiative. In previous practice, customs registration was usually ordered at the request of the Union industry concerned. In the future, the Commission intends to act ex officio. Since the beginning of October 2024, the notices of initiation have contained a corresponding reference at the end of the "procedure" section. Combined Nomenclature 2025 The European Commission has published the latest version of the Combined Nomenclature (CN), which will apply from January 1, 2025. The Combined Nomenclature is the basis for the declaration of goods (a) upon import or export or (b) for intra-EU statistical purposes. The classification of the goods determines the applicable customs rate and the manner of statistical treatment. The CN is therefore a fundamental working tool for both the economy and the administrations of the Member States. The Combined Nomenclature has its legal basis in Council Regulation (EEC) No. 2658/87 on the customs and statistical nomenclature and the Common Customs Tariff. It is updated annually and published as an implementing regulation of the Commission in the EU Official Journal (L series). Extension of the submission deadline for LkSG reports The Federal Office for Economic Affairs and Export Control (BAFA) has announced that the deadline for submitting reports in accordance with Section 10 Paragraph 2 of the LkSG (Supply Chain Due Diligence Act) has been extended again. Companies subject to the LkSG can now submit reports to BAFA by December 31, 2025 (instead of December 31, 2024).