China- Customs audit regulations w.e.f 1 November 2016
The new measures provide guidelines in implementing customs audit regulations and specify and refine various items in the operation and implementation of the customs audit regulations. The measures:
- Add some content related to self-disclosure
- Add provisions in relation to introducing third-party agencies (e.g., professional accounting or tax organizations)
- Add provisions about the customs authority’s jurisdiction
- Allow the customs authority to adjust the credit ratings of those that do not cooperate with the regulations
Read an October 2016 report [PDF 221 KB] prepared by the KPMG member firm in China: The General Administration of Customs issues the new Measures for Implementation of the Customs Audit Regulations and enterprises should take note of its key content