China’s foreign trade minister Shi Guangshengrecently promised that China will continue tolower its customs duties and establish an effective,flexible import coordination mechanism. By theyear 2005, the average impor...China’s foreign trade minister Shi Guangshengrecently promised that China will continue tolower its customs duties and establish an effective,flexible import coordination mechanism. By theyear 2005, the average import tariffs of industrialgoods will be cut to 10%. Currently, China’saverage import tariff is 17%. Non-tariff展开更多
By a State Council decision, effective on July 1, Chinais to impose specific duties on three import commodities including beer, and compound duties on two otherimport commodities including video player on an trial bas...By a State Council decision, effective on July 1, Chinais to impose specific duties on three import commodities including beer, and compound duties on two otherimport commodities including video player on an trial basis. As this is an unprecedented experiment in China, Office of the Customs Tariff Commission under the StateCouncil, and the Customs Tariff Department of the GeneralAdministration of Customs are carrying out public consultation on these trial policies. In order to give the public abetter idea concepts, characteristics and purposes of specific and compound duties, our reporter visited the officerin charge at Guangzhou Customs.展开更多
The paper revealed the place and role of Russia in the global market of platinum metals, highlighted features of pricing in the export of Russian platinum group metals, the main problems of pricing in the export contr...The paper revealed the place and role of Russia in the global market of platinum metals, highlighted features of pricing in the export of Russian platinum group metals, the main problems of pricing in the export contracts related to the instability of markets and imperfect currency and customs legislation of the Russian Federation, proposed innovative ways to solutions to existing problems in the preparation and conclusion of export contracts.展开更多
Trade,investment and tax treaties are concluded for different reasons and with different objectives.The international trade and tax systems are overseen by different global organizations.The overlaps and inconsistenci...Trade,investment and tax treaties are concluded for different reasons and with different objectives.The international trade and tax systems are overseen by different global organizations.The overlaps and inconsistencies between these agreements could be exploited by investors to gain unintended advantages.Therefore,developing countries must ensure that there is greater cooperation and exchange of information in relation to trade,investment and tax policy.The exchange of information between tax administrations is important in the context of the Belt and Road Initiative(BRI),where the tax administration in each jurisdiction needs to know more about the cross-border transactions of multinationals operating in its territory.The most effective way for developing countries to improve the exchange of information is to sign multilateral agreements,in particular the Convention on Mutual Assistance in Tax Matters.The customs and transfer pricing functions within a jurisdiction should collaborate and exchange information to ensure that the pricing of import transactions is consistent across different taxes.Both functions could carry out risk-based compliance audits that would involve comparison of transfer pricing and customs documentation.In the context of coordination between customs and direct tax functions,the comparison of customs and transfer pricing documentation can be established on a routine basis.Closer coordination of transfer pricing and customs would also help taxpayers reduce compliance costs in relation to cross-border transactions.In view of the compliance costs involved in putting together transfer pricing documentation,it would help taxpayers if much of the same documentation could also be used for the purposes of customs valuation.展开更多
文摘China’s foreign trade minister Shi Guangshengrecently promised that China will continue tolower its customs duties and establish an effective,flexible import coordination mechanism. By theyear 2005, the average import tariffs of industrialgoods will be cut to 10%. Currently, China’saverage import tariff is 17%. Non-tariff
文摘By a State Council decision, effective on July 1, Chinais to impose specific duties on three import commodities including beer, and compound duties on two otherimport commodities including video player on an trial basis. As this is an unprecedented experiment in China, Office of the Customs Tariff Commission under the StateCouncil, and the Customs Tariff Department of the GeneralAdministration of Customs are carrying out public consultation on these trial policies. In order to give the public abetter idea concepts, characteristics and purposes of specific and compound duties, our reporter visited the officerin charge at Guangzhou Customs.
文摘The paper revealed the place and role of Russia in the global market of platinum metals, highlighted features of pricing in the export of Russian platinum group metals, the main problems of pricing in the export contracts related to the instability of markets and imperfect currency and customs legislation of the Russian Federation, proposed innovative ways to solutions to existing problems in the preparation and conclusion of export contracts.
文摘Trade,investment and tax treaties are concluded for different reasons and with different objectives.The international trade and tax systems are overseen by different global organizations.The overlaps and inconsistencies between these agreements could be exploited by investors to gain unintended advantages.Therefore,developing countries must ensure that there is greater cooperation and exchange of information in relation to trade,investment and tax policy.The exchange of information between tax administrations is important in the context of the Belt and Road Initiative(BRI),where the tax administration in each jurisdiction needs to know more about the cross-border transactions of multinationals operating in its territory.The most effective way for developing countries to improve the exchange of information is to sign multilateral agreements,in particular the Convention on Mutual Assistance in Tax Matters.The customs and transfer pricing functions within a jurisdiction should collaborate and exchange information to ensure that the pricing of import transactions is consistent across different taxes.Both functions could carry out risk-based compliance audits that would involve comparison of transfer pricing and customs documentation.In the context of coordination between customs and direct tax functions,the comparison of customs and transfer pricing documentation can be established on a routine basis.Closer coordination of transfer pricing and customs would also help taxpayers reduce compliance costs in relation to cross-border transactions.In view of the compliance costs involved in putting together transfer pricing documentation,it would help taxpayers if much of the same documentation could also be used for the purposes of customs valuation.
