Tony Kong at
China Customs News, Trade Tensions & Cross-Border Tax Challenges
Note: This is a live event held in Hong Kong.
Please only register if you will be able to attend the in-person session in Hong Kong.
Location: RSM Hong Kong, 29th Floor, Lee Garden Two, 28 Yun Ping Road, Causeway Bay, Hong Kong
Join ST&R and RSM Hong Kong to discuss the latest developments in the trade tensions between China and the U.S., along with issues pertaining to trading in China.
China-U.S. Tariff War
- What’s in effect and what’s coming – the U.S. perspective
- Ways to mitigate duty impact
- First Sale Valuation
- Tariff Engineering
- Country of Origin: U.S. rules and recent denial of COO for Section 301 purposes
- Illegal Transshipment
China Customs and Trade Regulations
Overview of recent impactful China Customs updates:
- E-Commerce: China has expanded the scope of imports through its e-commerce platform, offering great opportunities for companies to sell more goods to China and its end-users directly.
- AEO: In recent years China Customs has set up an enterprise certification program by which importers are required to implement internal controls in relation to customs compliance. An update on the latest revised standards will be discussed.
- Clearance facilitation: GAC has taken several measures to facilitate clearance efficiency that will save substantial costs for importers and exporters, including bond, advance declaration, etc.
China Customs recently issued a notice that confirms the legal basis of dutiable royalty and captures the reporting and declaration of royalty paid subsequent to the importation of related goods. Thus, the scope of royalty reporting has been expanded. Additionally, the notice formally states that it is a breach of customs law if the importer fails to declare dutiable royalty, and it carries legal implications for the imposition of penalties.
Country of Origin
To help mitigate the costly tariffs imposed by the U.S. on goods from China, companies have been evaluating ways to change the origin of goods going to the U.S. market. For example, some are contemplating shifting some manufacturing processes and/or sourcing raw materials or components from other countries. This could lead to entirely different countries of origin for the finished goods depending on the applicable rules of origin.
Related China and Cross-Border Tax Challenges and Developments
- Common tax risks in cross-border business and investments
- Coming changes in taxation of digital economy
- Transfer pricing arrangements and cross-border exchange of tax information
- China’s international tax directions in recent tax cuts and reforms and the Belt & Road Initiative
- Tax efficient use of Guangdong-Hong Kong-Macau Greater Bay Area for cross-border business
Colbert Lam is Senior Advisor, Customs and International Trade. Prior to joining ST&R, he was a former customs official in North America and a partner the Asia-Pacific customs and trade practice of a major accounting firm. Colbert witnessed China's ascent to WTO in 2001 and the evolution of China Customs over the last 20 years. Drawing on his experience in a Big 4 accounting firm, Colbert advises companies in the fortune category with support from U.S.-based ST&R professionals. Colbert also supports clients on valuation disputes with other Customs authorities in Korea, Taiwan, Thailand, Singapore and Australia, and is an expert in regional trade agreements in the region. Colbert is a CPA and holds a bachelor of commerce degree from McMaster University in Ontario, Canada.
Sally Peng is an ST&R member and the Asia-Pacific Practice Group Leader. She focuses on counseling multinational corporations on a wide variety of Customs and international trade activities, including global trade regulations and Customs laws, import/export control and process management, antidumping and countervailing duty matters, unfair trade actions and FCPA compliance. Ms. Peng also assists clients in determining whether their goods qualify for duty-free treatment under various free trade agreements or trade preference programs.
Ms. Peng currently serves as Co-Chair of Apparel & Footwear Committee of AmCham Hong Kong and is a Senior Advisor to Hong Kong General Chamber of Textile Limited. She is fluent in English and Mandarin. Ms. Peng holds a J.D. from the University Of Florida Levin College Of Law, a Diploma from Peking University Law School in Beijing, and a B.A. from Chengchi University College of Law in Taiwan.
Caesar Wong is the Managing Director of China Business Services of RSM Hong Kong. Prior to that, Caesar was with Andersen, PwC, EY and Deloitte for 24 years. He was seconded to Shanghai from Hong Kong in 1994, and relocated to Guangzhou to witness the development of China’s free trade zones. Caesar’s specialties include cross-border investment advisory, tax risk management, tax controversy solutions, government services, M&A, and restructuring IPO tax advisory services. Caesar helped an international hi-tech group to reach the first advance pricing agreement in Shanghai in 2001, which was the first one on intra-group service income in China. Caesar supports policy drafting and consultation, and is a popular speaker at international conferences, government trainings and policy consultation meetings.
About the Hosting Companies
Since 1977, Sandler, Travis & Rosenberg has set the standard for providing comprehensive and effective international trade-related legal and consulting services to clients worldwide. With professionals in nine offices throughout the United States and Asia and strategic alliances around the globe, Sandler, Travis & Rosenberg is the largest dedicated international trade, customs, and export services firm in the world. Operating as consulting companies in Asia, we are known as Sandler, Travis & Rosenberg, Limited (Hong Kong) and STR International Trade Limited Company (China). In the U.S., Sandler, Travis & Rosenberg, P.A. operates as a law firm.
Our attorneys and consultants have previously held leadership positions in the private sector and with U.S. and China Customs. Their experience allows us to provide timely and effective advice to our clients.
RSM Hong Kong was established in 1975 and is today one of the leading accounting and consulting firms in Hong Kong, offering a wide range of services to local, mainland China and international clients. The services include Audit and Assurance, Taxation, Risk Advisory, Transaction Advisory, Corporate Advisory, and Technology & Management Consulting.
RSM Hong Kong is a member of RSM, an international network of independent professional firms, which maintain high standards of technical excellence, with a focus on providing outstanding services to clients globally.