In December 2011, Customs will void approximately 940 Tariff Advices (TAs), as their classification codes are affected by the 2012 tariff update. Customs will be notifying importers before December 15 with respect of the TAs to be voided. Importers may wish to seek a new Tariff Advice to confirm they can continue to rely on
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Over the past 20 years ‘global trade’ has come to mean trade between related entities of large, multinational corporations. These corporations often have complicated tax structures that allow them to create favourable tax positions in the markets in which they operate. To avoid being seen as engaging in ‘international profit shifting’, companies must adhere to
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The Australian Customs and Border Protection Service administers the granting of Tariff Concession Orders (TCOs). A TCO is a form of legal permission to import a particular good duty free into Australia, provided there is no substitutable good produced in Australia on the date your TCO application is lodged, and the good does not appear
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Most importers in Australia, both public and private companies, do not have an accurate picture of how much they are spending on import duties, as a percentage of their cost of goods sold (COGS). As a consequence, these importers often overpay duty, fail to claim available duty refunds, and may not have conducted much analysis
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