China recently clarified upcoming procedures for obtaining export value-added tax refunds, according to a Nov. 7 post from the Hong Kong Trade Development Council. China specified that general VAT taxpayers may claim tax credits or export VAT refunds through the online “VAT invoice confirmation platform of their home province,” the report said. VAT payers with a Customs Bill of Payment “with information relating to multiple VAT payers” should first upload all documentation “for verification by the tax authorities," HKTDC said. The procedures are scheduled to take effect Feb. 1, 2020.
Vietnam’s Quang Ninh province is considering a proposal to suspend “temporary imports for re-exports” of certain foreign cigarettes and liquor, VietnamCustoms said in a Nov. 4 report from Customs News, the agency’s mouthpiece. The measure would impact imports of “non-Vietnamese origin” cigarettes and foreign whiskey, the report said, and was introduced to combat smuggling schemes and attempts to “illegally access the domestic market.” The proposal would also “suspend the operation of bonded warehouses” for foreign cigarettes and whiskey, Vietnam said. The proposal was recently approved by the country’s defense and finance ministries and is being considered by the Ministry of Industry and Trade, the report said.
China and Thailand agreed on several measures to increase trade, including an enhanced railway system and improved cooperation in agricultural trade, according to a Nov. 5 report from Xinhua, China’s state-run news agency. The two sides agreed to “expand cooperation in agricultural trade” and e-commerce as well as in auto, medical equipment and rubber sectors, the report said. The countries also plan to build the China-Thailand railway “into a successful example in bilateral cooperation” and “speed up the implementation of the railway project.”
China will take more measures to lower tariffs and diversify imports “from around the world,” President Xi Jinping said during a speech to open China’s international trade fair on Nov. 5. Xi said the country plans to continue expanding market access to foreign companies and is focusing on increasing its imports. “China will give greater importance to import. We will continue to lower tariffs and institutional transaction costs, develop demonstration zones to promote import trade by creative means, and import more high-quality goods and services from around the world,” Xi said.
A Chinese Foreign Ministry spokesperson was critical of the U.S.’s Nov. 4 decision to impose sanctions on Iranian military and government officials (see 1911040028), saying the U.S. should instead turn to negotiations. “China opposes unilateral sanctions and so-called ‘long-arm jurisdiction,’” the spokesperson said during a Nov. 5 press conference. “Arbitrary sanctions or threat of sanctions cannot solve problems.” The spokesperson urged the U.S. to begin a “dialogue” to “resolve disputes.” The spokesperson also said that U.S. and Chinese negotiations are progressing well and the two sides “keep in contact,” but declined to say when the next meeting will take place. “The trade talks have achieved progress and are now moving forward as planned,” he said.
Singapore will eliminate its remaining import restrictions on food produced in Japan’s Fukushima region, Japan said Nov. 4, according to an unofficial translation of a Ministry of Foreign Affairs release. Japan said Singapore considered “the safety measures Japan has taken so far,” including the pre-export inspection of food.” The announcement came as Japan implores countries to reduce restrictions created to guard against possible food-related radiation contamination from Japan’s Fukushima nuclear power plant disaster in 2011 (see 1911010030).
Indonesia issued a guidance clarifying its import duty and value-added tax exemptions for certain imports that fall under certain contracts, KPMG said in a Nov. 1 post. Indonesia clarified that its exemptions apply to imports under “contracts of work” or “coal contracts of work,” the post said, and provide exemptions and reductions of import duties and exemption of import VATs. Indonesia bans any transfers, re-exports or destruction of goods imported under the measures until two years have elapsed from the import date, the post said, and requires importers to first receive approval from Indonesian customs and other agencies. Violations may result in import duties, VATs and further penalties.
China and New Zealand agreed to upgrade their free trade deal to improve customs facilitation, remove trade barriers and revise rules of origin procedures, China’s Ministry of Commerce said Nov. 4. China said both countries will “benefit from improved rules,” adding that the deal also includes measures on e-commerce, competition policy and increased market access for certain goods. “These results reflect the desire of both countries to ensure that the China-New Zealand FTA remains ambitious, modern and high quality … and demonstrates the commitment of both countries to free and open trade and a rules-based multilateral trading system,” China said.
An agreement on the 16-nation Regional Comprehensive Economic Partnership (RCEP) will be signed in 2020, Thailand said, despite some countries’ hope that it would be finalized this year. Thailand, which chairs the Association of Southeast Asian Nations, said in a Nov. 3 statement that the parties are committed to signing the deal by February, according to a Nov. 3 Reuters report. The statement came after several calls for the deal to be completed this year, including from China and Japan (see 1904180052).
Singapore’s TradeNet will be down for maintenance from 4 a.m. to noon Nov. 17, Singapore Customs said in an Oct. 30 notice. Singapore is asking traders not to submit applications during that time period.