TNETS Customs and Trade Compliance News


Ensuring synchronous post-customs clearance inspections

By THUAN HUU Aug 5 2019 / Nhandan NDO – Post-customs clearance inspection is an important activity of customs agencies in order to properly control export-import activities, prevent smuggling and trade fraud, and help prevent revenue losses for the government. In the first half of 2019, customs agencies conducted more than 1,700 post-clearance inspections and imposed total fines of VND838 billion (US$36 million), collecting total revenues of VND927.8 billion...

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DSV well positioned to manage this month’s Panalpina takeover

By Will Waters Aug 5 2019 / Lloyd’s Despite market slowdown, Danish freight and logistics group’s results last week show its ‘house is in order’ ahead of major merger with Swiss forwarder, expected around 19 August, says analyst Jefferies. The latest financial results of Danish freight and logistics group DSV, published last week, show that it is well positioned to manage its takeover of Swiss forwarder Panalpina, expected around...

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Digitization key to forwarders ‘reaching the next level’

By Mike King Aug 5 2019 / Lloyd’s Loading List Forwarders with aspirations to be modern businesses must embrace the services and efficiencies available via digital platforms, according to Wolfgang Lehmacher, leading logistics consultant and the former head of Supply Chain and Transport Industries at the World Economic Forum in Geneva and New York. “Performance and profitability in forwarding depends on capacity availability, capacity purchasing prices and utilization, operational...

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Plastic Waste Piles Up as Indonesia’s Import Crackdown Backfires

By Viriya Singgih Aug 2 2019 / Bloomberg Indonesia’s crackdown on waste imports is backfiring with its plastic recycling industry in disarray and hundreds of containers of used materials clogging its ports. Authorities ordered close scrutiny of trash imports after random inspections in May led to the discovery of more than 80 containers of illegal waste from the U.S., Australia and Europe. About 1,000 containers are now waiting for...

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Boardroom Brexit 2 August

By Paul Hardy/ Richard Bonnar/ Valerijus Ostrovskis Aug 2 2019 / Mondaq Welcome to the latest issue of Boardroom Brexit, covering developments since the election of Boris Johnson as leader of the Conservative party and, as a consequence, his replacement of Theresa May as the UK’s new prime minister. In this issue we: outline the new government’s Brexit strategy; run through the possible outcomes to the Brexit negotiations, and...

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South Korea looks to Asean for help in its ‘trade war’ with Japan

Aug 1 2019 / TODAY HONG KONG — South Korea is planning to appeal for help from its regional partners in its latest bid to convince Japan to roll back export restrictions amid an escalating trade dispute between the two countries. At a series of ministerial gatherings among representatives of Japan, South Korea and the 10-member Association of Southeast Asian Nations (Asean) set to take place in Bangkok next...

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CHANGES TO THE STRATEGIC GOODS CONTROL LIST

By Singapore Customs Aug 1 2019 Updates to the Strategic Goods Control List Singapore Customs would like to inform you that the new Strategic Goods (Control) Order 2019 (“SGCO 2019”) has been gazetted on 1 August 2019, and will come into effect from 1 October 2019. You may access the SGCO 2019 via our website at www.customs.gov.sg > Business > Strategic Goods Control > Strategic Goods Control List. 2...

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China cracks down on tax fraud

By Xiaoxiao 31 July 2019 / Xinhua BEIJING, July 31 (Xinhua) — Several Chinese ministries cracked down on crimes related to the use of fake invoices and export-tax rebate fraud in a special campaign, an official with the State Taxation Administration (SAT) said Wednesday. The campaign was jointly launched by the SAT, the Ministry of Public Security, the General Administration of Customs and the People’s Bank of China, in...

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Brexit for business: what you can and cannot control

By Michelle Perry July 31 / RACOUTEUR The ongoing uncertainties surrounding Britain’s impending exit from the European Union have raised important questions for businesses trying to future-proof operations and supply chains, but some things are simply out of a decision-maker’s control… Can Control For more than three years, British business has faced creeping uncertainty as planned departure dates to exit the European Union pass by, the type of departure...

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Across China: Coastal industries thrive in China’s Guangxi with new trade corridor

By Xiaoxia July 31 / Xinhua NANNING, July 31 (Xinhua) — Southern China’s Guangxi Zhuang Autonomous Region has seen its coastal industries enter the fast lane of development thanks to a new trade corridor connecting western China and other countries and regions with land-sea intermodal transport. The cities on the shoreline of Guangxi’s Beibu Gulf, including Fangchenggang, Qinzhou and Beihai, have become hot spots for investment, as the cities’...

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