Tb ImportExport PPT Chapter11
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Transcript of Tb ImportExport PPT Chapter11
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Tilde Publishing and DistributionISBN: 978-0-7346-0817-8
Import/Export
Mapping International Trade forAustralian Business
Customs
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Customs
One of the major roles of the Australian Customs
and Border Protection Service is to monitor and
control the legitimate movement of goods across
Australias borders. A customs broker is an individual or organisation
that is licensed by the government who acts as an
agent for an importer or exporter performingmany of the functions required for compliance
with customs regulations and procedures.
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Customs
In Australia you do not need to hold an importlicence in order to import goods of a generalnature.
Prohibited goods cannot be imported underany circumstances.
For restricted goods, importers will need to
secure permission from the relevantdepartment or agency (permit issuing agencyPIA) before proceeding with the import.
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Customs
All imports exceeding the value of A$1,000 per
consignment must be formally notified to
Customs via the lodgement of a customs
import entry.
Apart from a few exceptions, e.g. alcohol and
tobacco products, generally import duty and
GST is not payable on imported goods valuedat A$1,000 or less.
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Customs
Information supplied to Customs for the
release of imported goods and the
determination of import duty, GST and other
taxes payable falls into three broad categories:
the nature of the goods,
the value of the goods,
the origin of the goods.
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Customs
Under Tariff Concession System (TCS) an importer
may be granted a Tariff Concession Order (TCO)
for a specific item if it can be demonstrated that
no substitutable goods are manufactured inAustralia in the ordinary course of business
The Australian Customs and Border Protection
Service also operates a system that allowsimporters duty free entry of genuine handmade
goods into Australia.
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Customs
Dumping is the term used to describe the
practice of selling goods in an export market at a
price lower than the price of the same goods in
the domestic market. Remedial action may betaken by imposing a dumping duty.
A subsidy is any form of direct or indirect
financial assistance provided by a governmentthat benefits an exporter. remedial action may be
taken by imposing a countervailing duty.
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Customs
Licensed customs brokers are linked directly toCustoms via the Customs electronic datainterchange system known as the IntegratedCargo System (ICS) and lodge import entries
electronically. The electronic lodgement system in conjunction
with the self-assessment procedure ensuresvirtually instantaneous customs release of
imported goods in most cases. In some cases customs may decide to examine
cargo
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Customs
There is usually no requirement for import
documents to be submitted to customs.
However, you must retain documents for a
minimum period of five years from the date ofthe customs entry.
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Customs
The majority of goods imported into Australia
either attract a duty rate of zero or five
percent.
Exceptions apply mainly to passenger motor
vehicles and related items, textile clothing and
footwear and related items and excisable
goods such as alcohol and tobacco.
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CustomsCalculating import duty
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Customs
The indirect tax that applies the most to
importers is the Goods and Services Tax (GST)
The other two taxes that may apply are the
Wine Equalisation Tax (WET) and the Luxury
Car Tax (LCT).
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Customs
Calculating GST
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Customs
An ATA carnet provides a simplified process for
the temporary admission of a wide variety of
goods and is the document most widely used
by business for this purpose.
Applications for ATA carnets are made via a
local chamber of commerce.
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Customs
Importers must ensure that where required,goods imported for commercial purposes areadequately and accurately labelled, and include
the name of the country where the goods weremade and a true description of those goods.
If detected at the time of importation, Customscan seize imported goods that infringe
trademarks, copyrights or Olympic insignia, butonly if the owner or authorised licensee lodges aformal objection.
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Customs
Exporters must lodge an export declaration toCustoms in the following circumstances:
where the value of the export consignment is
greater than A$2,000 except for exempt goods; where there is a requirement for a permit to be
issued by a Permit Issuing Agency;
where the exported goods will be the subject of a
duty drawback claim; and where duty and excise has not yet been paid on
goods where duty and excise is payable.
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