Following the passing of a suite of legislations, sales tax at the rate of 10% will be imposed on low value goods (i.e., all goods outside Malaysia which are sold at a price not exceeding RM 500 and brought into Malaysia via land, sea or air modes) (“LVG“) sold by…
On 30 March 2023, General Resolution 5,339 was published in the Official Gazette, by which the Federal Tax Authority modified the value added tax and income tax advanced payment regime on the importation of certain goods until 31 December 2023.
On 19 April 2023, the European Parliament adopted the final text of a new EU Regulation aimed at tackling deforestation…
On 18 April 2023, Matthew S. Axelrod, the Assistant Secretary for Export Enforcement, US Department of Commerce’s Bureau of Industry and Security (BIS), issued a memorandum titled “Clarifying Our Policy Regarding Voluntary Self-Disclosures and Disclosures Concerning Others” to clarify and announce BIS’ policies concerning voluntary self-disclosures of Export Administration Regulations (EAR) violations and disclosures of possible EAR violations committed by third parties.
The Ministry of Commerce of China initiated an antidumping and countervailing duty administrative review of barley from Australia, effective from 14 April 2023. For all Australian barley exporters, this is an opportunity to revoke the existing antidumping and countervailing duties and resume exportation to China.
The Chinese Ministry of Commerce announced on 12 April 2023 that it has initiated a trade barrier investigation involving 2,455 categories of Chinese products that may be subject to import restrictions or prohibition in Taiwan, including agriculture, mineral, chemical, and textile products. The outcome is expected to be announced by 12 October 2023, or 12 January 024 if the investigation is extended. Due to the current geopolitical tension between Taiwan and China, it is possible that the investigation may be expedited.
The annual quota for frozen bone-in cuts of the species Gallus Domesticus originating in, or imported from, the United States has been increased from 71,290 tonnes to 71,632 tonnes, with retrospective effect from 1 April 2022.
On 10 April 2023, the National Executive Power issued the Decree of Necessity and Urgency No. 194/2023 with the purpose of re-establishing, on an extraordinary and transitory basis, the Export Increase Program created by Decree of Necessity and Urgency No. 576/2022 for those subjects and producers of regional economies that have exported at any time during the 18 months immediately prior to the entry into force of this decree, goods whose tariff positions of the Common Nomenclature of MERCOSUR are listed in Annexes I and II of Decree 194.
On 28 March, the Brazilian Secretariat of Foreign Trade, through Ordinance No. 10 dated 27 March 2023, opened a sunset review concerning the antidumping duty in force on Brazilian imports of metallic magnesium from Russia. At the end of the review, the current antidumping duty may have its term extended for another five years.
In December 2022, the Indonesian Minister of Finance issued a new regulation on imported goods for use, i.e., MOF Regulation No. 190/PMK.04/2022, which came into force on 13 January 2023. One of the notable highlights of MOF Regulation 190 is the new import declaration procedure for intangible goods (e.g., digital goods). This is a significant update because the previous regulations did not include provisions on this.