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Applying the VAT TAX in China
The Chinese Government is implementing a value-added Tax VAT, since August 1, 2013. These charges will be taxed at 6% in exports and imports in China. The Chinese VAT is not applied in Hong Kong and Macau.
The value-added tax of 6% will be charged on all transactions made in China.
For more information please contact Nippon Express:
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NEW RULES FOR INCONTERMS 2010
Nippon Express Portugal, SA informs that as of 01.01.2011, entered into force the new Incoterms 2010 rules drawn up by the International Chamber of Commerce. These rules take into account the increasing use of electronic communications in -transactions, the enhanced security concerns on movement of goods and changes in transport applications. This led to a regrouping in two categories, sorted according to the modes used, as follows:
1) Rules for any mode or modes of transport
EXW FCA
CPT CIP
DAT DAP
DDP
2) Rules for Maritime Transport and Waterways:
FAS FOB
CFR CIF
As a result of the publication of these new rules Incoterms 2010, is also governed by the Customs Department and resolution II.EE of July 17, 2012, for the filling in of the single administrative document (SAD), the requirement to adapt terms of delivery of the goods to the new Incoterms 2010, reserving exclusively to the use of the terms FAS, FOB, CFR and CIF for maritime and inland waterway. Due to the economic situation of our country and the possible restrictive interpretation of the standard referred to in the preceding paragraph, the improper use of Incoterms delivery deadlines, may be subject to a fine by the Customs Department and II.EE. Therefore, we request that, as much as possible to further verify the terms of delivery of goods and, if applicable, and, depending on the transport used, adapted to the norms established by the Incoterms 2010, prevent it´s misapplication in its relationships with customers and also any sanctions provided for in our national legislation
For more information please contact Nippon Express:
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