Russia halves duty-free import threshold for e-commerce
“The threshold for duty free purchases Russian citizens make in foreign online stores has been lowered to 500 euros from 1,000 euros as of January 1, 2019. This is according to the rules of the new Customs Code that was adopted by the countries of the Eurasian European Union, namely Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. The measure implies that a buyer from Russia should pay customs duties for the purchases and parcels he ordered online in foreign stores if their total price tag exceeds 500 euros. The cost of purchases is accumulated within one month and the weight of a duty-free item for that period should not exceed 31 kg.”
Philippines aims to attract investors hit by tariffs in U.S.-China trade war
“The Philippines would attract foreign investment in part because of its $169 billion infrastructure renewal, Atienza said. The rebuilding is set to run through 2022 and get funding partly by money from China and Japan. … Though too early to say, new infrastructure might help develop energy sources and lower electricity prices that otherwise deter investors, the professor said.”
[Voice of America]
China to introduce global standards for bonded zones
“More efforts will be made to facilitate domestic sales by companies in the zones. The general taxpayer status of VAT will be piloted in the comprehensive bonded zones. Processing and manufacturing companies in the zones will be permitted to undertake outsourced processing businesses from outside the zones of the Chinese mainland market. No application for the automatic import license will be required for the selling of products made in the zones, such as cell phones and auto parts, on the domestic market.”
Copyright © 2022 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.