WCO Implements New Trade Valuation Rules to Boost Revenue

WCO Implements New Trade Valuation Rules to Boost Revenue

The WCO Technical Committee on Customs Valuation has adopted two new advisory opinions concerning the valuation treatment of income tax in royalties and the valuation of buyer's own trademarks on imported goods. These new rules aim to enhance certainty and transparency in customs valuation, promote international trade facilitation, optimize customs revenue, and ensure the healthy development of global trade. They provide guidance on complex valuation issues, contributing to a more predictable and equitable international trade environment. The opinions seek to clarify existing valuation principles and address practical challenges faced by customs administrations and traders alike.

01/05/2026 Customs Knowledge
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WCO Helps Senegal Modernize Trade with Ruling System

WCO Helps Senegal Modernize Trade with Ruling System

With EU funding, the World Customs Organization (WCO) is supporting Senegal Customs in establishing a national advance ruling system. Through diagnostic assessments and action plan development, the initiative aims to improve trade facilitation in Senegal, reduce trade risks for businesses, and enhance customs clearance efficiency. Senegal is committed to actively promoting the development of this system, and the WCO will continue to provide support, contributing to global trade prosperity. The implementation of the advance ruling system is expected to streamline customs procedures and provide greater certainty for traders.

01/05/2026 Customs Knowledge
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Distinction Between Hazardous Chemicals and Dangerous Goods

Distinction Between Hazardous Chemicals and Dangerous Goods

There are significant differences between dangerous chemicals and dangerous goods. The former refers mainly to chemical substances whose hazards manifest over long-term exposure, while the latter includes both materials and items, focusing on short-term dangers during transport. Although both categories have similar packaging requirements, not all dangerous chemicals are classified as dangerous goods, and vice versa. Understanding this distinction is crucial for accurate customs declaration.

07/17/2025 Logistics Encyclopedia
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Distinction Between Hazardous Chemicals and Dangerous Goods

Distinction Between Hazardous Chemicals and Dangerous Goods

This article provides a detailed analysis of dangerous chemicals and hazardous goods, highlighting their similarities in some areas while noting significant differences in customs declaration and classification. Dangerous chemicals primarily cover chemical substances and emphasize long-term hazards, whereas hazardous goods focus on short-term transportation risks. Using MDI as an example, the recognition process helps clarify the key points of classification standards.

07/17/2025 Logistics Encyclopedia
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Comprehensive Analysis of Customs Declaration Processes and Requirements for Repairing Goods

Comprehensive Analysis of Customs Declaration Processes and Requirements for Repairing Goods

The customs declaration process for repairing items is a crucial aspect for import and export companies, involving detailed steps for both outbound and inbound shipments. Companies must accurately complete the customs declaration forms, provide necessary documentation, and adhere to customs regulations to avoid increased costs due to delays. A comprehensive understanding of these processes will significantly enhance operational efficiency and ensure compliance for businesses.

07/18/2025 Logistics Encyclopedia
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Clarification And Facts The Current Status Of Australian Coal Customs Clearance In China

Clarification And Facts The Current Status Of Australian Coal Customs Clearance In China

In response to recent reports about the suspension of Australian coal customs clearance at Dalian Port, the Ministry of Foreign Affairs clarified that national customs still accept coal imports. In recent years, China has conducted strict inspections on the quality and environmental safety of imported coal to protect legal rights and the environment. The related reports are false, and customs clearance operations continue to proceed normally.

07/22/2025 Logistics
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How to Provide Effective Customs Clearance Packing Lists and Invoices for Clients

How to Provide Effective Customs Clearance Packing Lists and Invoices for Clients

This article explores the meaning of 'split declaration and consolidated bill of lading' and its impact on the preparation of customs clearance documents. In international freight, providing effective customs clearance packing lists and invoices tailored to the destination port's requirements is crucial. It also emphasizes the independence of export country declarations and import country clearances, aiding customers in better understanding the customs clearance process.

07/21/2025 Customs Knowledge
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Mastering the Key Steps of Export Customs Declaration: A General Trade Example

Mastering the Key Steps of Export Customs Declaration: A General Trade Example

Mastering the process of filling out export customs declarations is crucial for export operations. This article details the basic content and filling requirements of customs declarations under general trade, including important information such as the export port, business unit, and shipping unit. By properly filling in the relevant details, it ensures that goods pass smoothly through customs, a necessary skill for every export business professional.

07/21/2025 Customs Knowledge
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Classification Study of HS Customs Commodity Code for Mosaic Used in Construction

Classification Study of HS Customs Commodity Code for Mosaic Used in Construction

This article explores the characteristics, application scenarios, material classifications, and customs code classifications of architectural mosaics. Architectural mosaics, with their diverse forms and functions, are widely used in the decoration of both residential and commercial spaces. By providing a detailed classification of their materials, the article offers comprehensive guidance on customs product coding to aid professionals in better understanding the key aspects of customs declaration work.

07/21/2025 Logistics Encyclopedia
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