ASEAN-Australia-New Zealand Free Trade Agreement Update

12-Jul-2010

Since the ASEAN-Australia-New Zealand Free Trade Agreement(AANZFTA) commenced in August 2008, importers and brokers have been enquiring about the requirements for claiming preferential tariff treatment for imported goods.
Importers need to a hold a valid certificate of origin (CoO), including the Free on Board (FOB) price, before claiming preferential tariff treatment.

There are cases where intermediaries such as buying agents or distributors do not provide the importer or broker with the CoO or the FOB price because the intermediary does not want to divulge how much they paid for the goods. If this happens to you, you may need to consider different commercial arrangements to take advantage of preferential tariff treatment.

In other cases where there are multiple contracts for sale for the imported goods, the FOB price on the CoO is different to the FOB price on the invoice used by importers and brokers to determine the customs value. This problem may be the result of calculating customs value on the domestic transaction rather than the import transaction.

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