China Reduces Penalties for Delayed Import Declarations Due to Coronavirus

China introduced new customs measures to reduce clearance costs of imports and exports amid the coronavirus outbreak, according to a March 12 report from the Hong Kong Trade Development Council. The changes, introduced March 10, mean some imports that arrived at ports before the outbreak, and other imports that were not declared in time due to logistical challenges, will benefit from reductions or exemptions in delayed declaration fees, China said. In addition, companies who cannot pay import taxes on time can submit an application to the customs authority with a “proposed tax repayment schedule,” the report said.