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...
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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China halves customs clearance time ahead of schedule
By Xinhua Jan 13 2020 / china.org.cn China’s customs clearance time shortened dramatically in 2019, meeting a target set by the State Council two years ahead of schedule, the General Administration of Customs said Monday. The country’s import clearance time was reduced to 36.7 hours in December last year, plunging 62.3 percent from 2017. Export clearance time was slashed to 2.6 hours, plummeting 78.6 percent from 2017. Besides, China’s...
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Digitised dashboards transform customs clearance process
By Kundan Jha Jan 11 2020 / Sunday Guardian Live New Delhi: Ease of doing business dashboards of the Central government are helping individuals and firms avail faster customs clearance services. The digitised processes also provide the facility of real-time tracking of the shipment under the clearance process. Information Technology initiatives have made possible faster clearance and real-time assistance. On November last year, the Central Board of Indirect Taxes...
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How can firms break into Asean markets?
Jan 9 2020 / The Strait Times This is the first of a two-part series in which Enterprise Singapore provides insights and advice to SMEs Q: We received queries from our Chinese and American clients who want to shift their manufacturing to Asean. Where can I learn more about the various FTAs for Asean? A: Singapore’s extensive free trade agreement (FTA) network provides enhanced market access, certainty and confidence...
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WiseTech continues expansion with SISA acquisition
By Damian Brett Jan 8 2020 / Air Cargo News Fast expanding supply chain software firm WiseTech Global has acquired SISA Studio Informatica, a customs and freight forwarding solutions provider in Switzerland. SISA provides solutions covering customs clearance, freight forwarding and bonded warehouse management. Its customers include DHL Logistics (Schweiz), Fiege Logistik (Schweiz), FedEx, Post CH, Agility Logistics, F. Hoffmann-La Roche, and other exporters, freight forwarders, and logistics service...
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55 companies benefit from AEO Programme: FCA
By Rasha Abubaker Jan 5 2020 / Emirates News Agency ABU DHABI, 5th January, 2019 (WAM) — According to the Federal Customs Authority, FCA, the number of registered companies that benefitted from the advantages offered by the Authorised Economic Operator, AEO, Programme in the UAE totalled 55 at the end of 2019. Another 15 companies plan to join the programme, which will bring the number to 70 participants by...
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Customs seizes 42 imported luxury vehicles for unpaid import duties
News, Sarawak Crime Jan 3 2020 / The Borneo Post KUCHING: The Royal Malaysian Customs Department (JKDM) has seized 42 luxury vehicles from a local company here on Jan 2 for unpaid import duties amounting to RM10.207 million. JKDM Sarawak director Dato’ Sharifah Halimah Tuanku Taha in a statement today revealed that the 42 vehicles of different makes were worth RM6.485 million. “One individual was detained to assist in...
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Customs seizes gambling machine declared as ‘furniture’ inside shipping container at Senari Port
By Jeremy Veno Dec 18 2019 / Borneo Post Online KUCHING: The Royal Malaysian Customs Department (JKDM) has seized a gambling machine worth RM20,000 with an estimated tax of RM8,000 that was declared as ‘furniture’ inside a shipping container at Senari Port on December 12. According to JKDM Sarawak director Datuk Sharifah Halimah Tuanku Taha, the gambling machine was dismantled and kept in four wooden cases. The cases were...
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Import permit exemption for 54 categories of transshipment goods
By Bernama Dec 17 2019 / Borneo Post Online JOHOR BAHRU: The government has agreed to exempt 54 categories of goods from the Approved Permit (AP) requirements for transshipment activities at all Malaysian ports, said Transport Minister Anthony Loke. He said the decision, made by the cabinet three months ago, covered items such as commodities and farm animals. However, controlled and dangerous items such as weapons and firecrackers would...
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