INSIGHT: Revamp of Malaysia’s Customs Act 1967—Impact on Multinational Corporations
Significant changes have been made to Malaysia’s Customs Act 1967. Adeline Wong, Ivy Tan and Kelvin Hong, of Wong & Partners, discuss why businesses need to be fully compliant with the new changes. By Wong & Partners Dec 4 2019 / Bloomberg Tax The Malaysian government has recently introduced important amendments to the Customs Act 1967 (Customs Act) via the Customs (Amendment) Act 2019 (Amendment Act). The Amendment Act...
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Vietnam-China auxiliary border gates reopened to facilitate trade
Feb 7 2020 / VNA Auxiliary border gates between the northern province of Lang Son and China’s Guangxi province will be reopened on February 10 to facilitate border trade between the two neighbours. Lang Son (VNA) – Auxiliary border gates between the northern province of Lang Son and China’s Guangxi province will be reopened on February 10 to facilitate border trade between the two neighbours. Vice Director of the...
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Abu Dhabi’s customs authority to boost trade by pre-clearing goods faster
By Delores Johnson Feb 2 2020 / The National It aims to drive growth by reducing costs and clearing shipments more efficiently through ports The General Administration of Customs in Abu Dhabi aims to increase trade in the emirate by boosting the number of pre-cleared items to 15 per cent of the total registered items in 2020. Only 8 per cent of all goods were pre-cleared before arriving at...
Read MoreUPS helps to simplify international shipping for SMB customers with website upgrade
By Kasun Illankoon Feb 2 2020 / Construction Business News UPS has launched a significant upgrade to its shipping website, www.ups.com, by making the process of creating an international shipment smarter and easier for its small and medium business (SMB) customers in 116 countries, including 36 countries in the Indian subcontinent, Middle East and Africa (ISMEA). “With SMEs contributing over 40% of GDP in emerging economies, there is no...
Read MoreRussia closing border with China to affect people, not goods
By Jake Rudnitsky and Evgenia Pismennaya Jan 30 2020 / International Trade Russia’s move to close its land border with China is targeting passengers, leaving freight unaffected for now, the government said Thursday. Only 3% to 4% of bilateral trade turnover comes from people carrying goods through the checkpoints along the 4,210-kilometer (2,615 mile) border, according to Alexander Gabuev, the head of the Carnegie Moscow Center’s Russia in the...
Read MoreWoman fined $52k for Customs offences
By Cara Chong Jan 21 2020 / The Straits Times A 50-year-old logistics company manager was fined $52,000 for various offences under the Customs Act, Singapore Customs said yesterday. Jean Heng was sentenced on Jan 8 for making incorrect declarations, breaching permit conditions, failing to deposit dutiable goods in a licensed warehouse and submitting false documents to the Singapore Customs. The manager of Tania Asia Logistics and Free Trade...
Read MoreSix arrested for peddling duty-unpaid Cigarettes by Singapore Customs
By Neyla Zannia Jan 21 2020 / The Online Citizen Six males were arrested during five operations conducted by Singapore Customs on 13, 14 and 16 Jan 2020 targeted at peddlers of duty-unpaid cigarettes. In a Facebook post on Monday (20 January), the authority stated that the males comprised of two Indonesians, one Singaporean, two Chinese nationals, and one Vietnamese. On 13 Jan 2020, Singapore Customs officers mounted two...
Read MoreThe Phase One Trade Deal: What’s in It for China?
By Faith Oktay Jan 18 2020 / The Diplomat Looking at the text, China’s commitments far outweigh the United States’. So why did Beijing sign on? The 80 pages of the main body of the “Phase One” agreement signed on Wednesday are packed with commitments by China but it is hard to find any from the United States. So why did China agree to this deal? The bulk of...
Read MoreChinese firms accused of dodging tariffs through ‘phantom trade’
By Lizzy Burden Jan 20 2020 / The Telegraph Chinese firms may be dodging billions in US tariffs by clandestinely channelling trade through other countries. Euler Hermes, which insures payments to exporters, shows in its annual global trade report that Asian exporters thought to have been winners in the trade war – taking the place of China as alternative exporters to the US – could be illegally rerouting goods...
Read MoreCameroon slaps VAT on e-commerce trade
By Amindeh Blaise Atabong Jan 14 2020 / itwebafrica The sale of goods and services in Cameroon via local or foreign e-commerce platforms will be liable to Value-Added Tax (VAT) of 19.25%. This is according to recently introduced legislation, the 2020 Finance Law of Cameroon which came into effect in late 2019. According to the new legislation, operators of e-commerce platforms, on behalf of suppliers, will have to calculate,...
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SNCF strike may hasten partial sale of Geodis
By Stuart Todd Jan 14 2020 / Lloyds Loading List SNCF’s objective to attain a break-even position by 2022 has been dealt a severe blow by a prolonged strike that could hasten a disposal of assets at France’s state railway, including the partial sale of its freight transport and logistics arm Geodis. In an interview with Paris Match published at the end of last week, newly appointed SNCF chief...
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