Indonesia issued a guidance clarifying its import duty and value-added tax exemptions for certain imports that fall under certain contracts, KPMG said in a Nov. 1 post. Indonesia clarified that its exemptions apply to imports under “contracts of work” or “coal contracts of work,” the post said, and provide exemptions and reductions of import duties and exemption of import VATs. Indonesia bans any transfers, re-exports or destruction of goods imported under the measures until two years have elapsed from the import date, the post said, and requires importers to first receive approval from Indonesian customs and other agencies. Violations may result in import duties, VATs and further penalties.
An agreement on the 16-nation Regional Comprehensive Economic Partnership (RCEP) will be signed in 2020, Thailand said, despite some countries’ hope that it would be finalized this year. Thailand, which chairs the Association of Southeast Asian Nations, said in a Nov. 3 statement that the parties are committed to signing the deal by February, according to a Nov. 3 Reuters report. The statement came after several calls for the deal to be completed this year, including from China and Japan (see 1904180052).
Singapore’s TradeNet will be down for maintenance from 4 a.m. to noon Nov. 17, Singapore Customs said in an Oct. 30 notice. Singapore is asking traders not to submit applications during that time period.
Japan implored countries to drop restrictions on Japanese food imports from Fukushima, saying the restrictions are hurting its farmers. Several countries, including South Korea, have imposed measures to guard against possible radiation contamination from food imported from Fukushima, which was the site of a nuclear power plant that was damaged by a tsunami in 2011.
China will hold an import fair in Shanghai this week to showcase Chinese companies, trade policies and address criticism of trade restrictions amid U.S.-China trade negotiations. China said more than 190 U.S. businesses will attend, an 18 percent increase from the previous year, even as U.S. officials are opting to skip the event. A U.S. embassy spokesperson said no senior officials plan to attend, according to Reuters.
Indonesia is preparing safeguard policies for textile imports to protect its domestic textile industry, the country’s Ministry of Trade said Oct. 31, according to an unofficial translation. An Indonesian trade official said the safeguard policies may include both temporary and permanent measures and suggested the country is close to imposing them, saying the Trade Ministry has “finished” deliberations on the measures. The safeguard could be “quite suppressing” for imports to the textile industry, Indonesia said.
India’s government reaffirmed it will only use domestically produced solar cells for solar-energy products, potentially decreasing demand for imported solar cells, according to an Oct. 31 report from the Hong Kong Trade Development Council. While the requirement had previously been in place, HKTDC said, the government’s announcement followed reports that contractors were ignoring the order and were using imported “semi-processed” solar cells “with only minimal processing actually taking place in India.” The move is aimed at boosting domestic production of solar cells “while also insulating the country’s manufacturing sector from being undermined by cheap imports,” the report said.
Foreign e-commerce suppliers selling to Taiwan must issue “cloud government uniform invoices” to their domestic purchasers starting Jan. 1, 2020, KPMG said in an Oct. 29 post. This is following a transition period to the system that started Jan. 1, 2019, and continues through the end of the year. E-commerce suppliers who do not issue the cloud GUIs may face penalties of up to “five times the tax that should have been collected” for violations of the Taiwanese value-added tax laws, the post said. Suppliers can issue cloud GUIs -- or electronic GUIs -- to customers through email, phone and other means approved by Taiwan, KPMG said.
China plans to eliminate restrictions on some foreign investments and hopes to continue addressing the issue in future trade negotiations, Chinese officials said during an Oct. 29 press conference, according to an unofficial translation.
India’s Ministry of Defense recently issued two open general export licenses for exports of certain parts and components and exports of intra-company transfer of technology. Both licenses authorize exports to Belgium, France, Germany, Japan, South Africa, Spain, Sweden, Britain, the U.S., Canada, Italy, Poland and Mexico.