The acceleration of economic integration, especially within Asia as evidenced by the increasing number of free trade agreements (“FTAs”), means cross-border transactions have become an integral part of the competitive business landscape. Tariff concessions under preferential trade, while presenting potential financial benefits to businesses in terms of reductions in import duty, are compelling Customs authorities to closely examine cross-border transactions to prevent revenue leakage. Companies will face tougher scrutiny on their transactions and have to ensure compliance with Customs rules and regulations in order to minimize exposure. Generally, Customs focuses on factors affecting import duty, such as tariff classification and customs valuation. Increased use of preferential tariff rates also induces Customs to focus on the eligibility of products under the relevant rules of origin. Companies must understand the practices of the Customs administration to ensure that they are not only compliant with local Customs requirements, but are also taking advantage of legitimate opportunities available to them.

Bryan Cave International Trade’s consultants, some of whom are former senior Customs officers from various jurisdictions, have a wealth of expertise and experience working on Customs matters. We are in an ideal position to advise clients on potential cost savings, compliance and valuation, as well as on defense and advocacy on challenges from Customs authorities.