by swisscham in Business
China Customs announced on 24 March 2016 that additional information of import transactions will be collected. These changes will be effective from 30 March, 2016. When submitting an import permit the following information has to be provided: Existence of special relationships (between the seller and the buyer)? Does the special relationship impair the import price? Confirmation on royalty payments. Almost all over the world customs duties are levied based on the transaction value (often the sales price) according to the legal principles stated in the WTO Customs Valuation Agreement (Agreement on Implementation of Article VII of the GATT 1994).