New Trade Compliance Requirements - Dutiable Royalties Declaration Formalities

April 2019 | China

General Administration of Customs (“GAC”) issued Announcement [2019] No. 58 on 27 Mar 2019 providing details on the declaration requirements for royalties. 

This announcement clarifies how customs declarations should be completed under different scenarios and specifies other requirements including time limits, assessment elements and late-payment charges, etc. 

Importers should pay attention to this announcement and ensure compliance with these new requirements in relation to their royalty arrangements in order to avoid penalties from the violation of these new rules.