Importing & Retailing in Taiwan
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1 Importing & Retailing in Taiwan 22 May 2014 Webinar for US Fashion Industry Association
2 Your resource today Jay Lin Trade and Customs Senior Manager, Taiwan Jay s experience in customs issues stretches over a decade. He assists clients in various areas, including: customs valuation, export control, tariff classification, import taxes/duties (customs duty, anti-dumping duty, excise tax, etc.), dispute resolutions, and dealing with customs authorities In addition to customs issues, Jay has extensive knowledge and experience in non-tariff barriers to trade, and trade policy formation. He has involved in various topics of WTO Doha negotiations, and successfully supported companies to deal with foreign anti-dumping investigations and lodge anti-dumping applications. Jay holds a Master of Business Administration degree from the Claremont Graduate University: Peter F. Drucker Graduate School of Management, U.S. Contacts Taiwan Jay Lin #23800 jay.lin@tw.pwc.com
3 Overview of Taiwan fashion retail industry
4 Overall Market Access Tariff Barriers Relatively high customs duties on apparel % Tariff rates ranging from 5% to 12% for apparel and fashion accessories Revenue collection an important performance indicator for Customs. Non-tariff Measures Various quality & labeling standards for different apparel products. Inspection of the product that is routinely imported takes place. Clearance time affected during testing. Up to oneweek delay for goods awaiting for physical exam or test Clearance Times The average customs clearance lead time for C1 (inspection-free), C2 (document review), and C3 (physical check) is 6 minutes, 3.15 hrs, and 8.7 hrs. Retailers can shorten the lead time per customs broker evaluation, obtaining recognition in Customs programs (e.g. AEO), etc. Over 99% of declarations are filed electronically. reports. 3
5 Customs Compliance
6 The Dutiable Value (1/2) Selling commissions Dutiable (examples) Packing, Containers (while seen as a whole with the commodity) Assists and Royalties Subsequent proceeds International insurance & freight (i.e. CIF) Non-dutiable (examples) In-country delivery costs In-country duties Discounts (trade / cash / quantity) Buying commissions Interest charges Customs Duty/Tax Collection Portions (2012) VAT 65.7% Customs Duty 19.5% Commodity Tax 6.9% Alcohol & Tobacco Tax 3.4% Others 4.6% 5
7 The Dutiable Value (2/2) 1. Can I obtain a written valuation ruling from Taiwan Customs? Yes, but only on dutiable add-ons. Customs generally provide written responses to written requests sent to them. However, the Customs responses are often vague and indirect. 2. Does Customs accept benchmarking comparables? No. Customs refers to the gross margin ratio on a company s annual tax report of the importer/retailer, or the gross margin standard ratio of the industry announced by the Ministry of Finance. 3. What is the Customs Reference Price Database and can I reduce import prices? An important risk assessment tool for Customs. The database price ranges/points are confidential. Inter-company import prices for apparel and accessories can be reduced case-by-case. 4. Who in Customs is asking the questions? Questions are usually raised by port Customs or the customs valuation department in Customs headquarters. 6
8 The Deductive Value A beneficial approach for importers/retailers The Deductive Value is also known as the Resale-Minus Value. It is the most commonly adopted methodology to determine the customs value when the Transaction Value is questionable. Nonetheless, in practice, even if the buy-and-sale between the importer and exporter is at arm s length, Taiwan Customs has a tendency of using the Deductive Value to test whether the transaction value is reasonable. The Deductive Value is the price which the importer sells the merchandise to a domestic unrelated party at the first commercial level, less certain costs that should be taken out (e.g. profit & general expenses, duties and taxes, domestic logistics and insurance costs). It should be noted that Taiwan Customs, when determining the amount of profit and expenses, tends to refer to the gross margin ratio on the importer/retailers annual tax report, or the gross margin standard ratio of the industry announced by the Ministry of Finance. Although the compliancy of adopting these ratios may be questionable under WTO principles, they have become strong benchmark references for Taiwan Customs. 7
9 Tariff Classification HS 2012 version is applied in Taiwan. The HS classification of apparel products is technically complicated due to the existence of specific rulings and lack of interpretation of the national subheadings at 8-11 digits level. The frequent changes of material compositions for seasonal apparel products also cause the difficulty in managing the process of confirming and verifying the correct HS codes. If the importer/retailer is uncertain of the appropriate tariff code for a product, the importer/retailer may request Customs to provide a classification ruling, but on the assumption that the importer/retailer did not import the product before. If the importer has record of importing the product or disagrees with Customs ruling, the importer may push Customs to file an internal opinion on tariff codes or apply for administrative appeal. A significant amount of tariff codes for apparel are subject to a Chinese import ban (to be discussed). Yet in practice, many customs brokers or logistics managers may adopt classification engineering. 8
10 Preferential Origin (1/4) Duty-savings for apparel under Chapter 61 and 62 of the tariff may be significant if retailers appropriately utilize preferential duty treatments under FTAs. Products originating from China, El Salvador, Guatemala, Honduras, New Zealand, Nicaragua, Singapore, and least developed countries may enjoy preferential duty rates. Ironically, while many apparel items made in China enjoy preferential duty rates when imported into Taiwan, a significant amount are completely restricted or partially banned. 9
11 Preferential Origin (2/4) ECFA (the Economic Cooperation Framework Agreement) Pre-FTA agreement with China that offers preferential treatments on service and trade when certain requirements are met. ECFA provides an Early Harvest List. Goods which are listed on the Early Harvest List may enjoy 0% customs duty rates. Obtaining an ECFA Country of Origin Certificate prior to exporting the goods is required to enjoy the preferential treatment. 3 rd Party re-invoicing is permissible under ECFA (within a limited scope). 10
12 Preferential Origin (3/4) The Chinese Import Ban: Currently, Taiwan imposes an import restriction including certain apparel of Chapter 61 and 62 that are made in China. Goods classified under a tariff code marked with MP1 or MW0 are conditionally or completely banned from entering Taiwan (including DFS) if they have Chinese origin. The range of banned apparel items has been decreasing gradually, but it is far from an overall liberalization. There are several methods used to manage the ban and attain some degree of market access, such as importing the goods in small quantities, or applying for a special import permission. 11
13 Preferential Origin (4/4) Implemented Under Negotiation Under Feasibility Guatemala (2006) Japan TPP (?) Panama (2008) Australia RCEP (?) Nicaragua (2008) El Salvador (2008) US India Honduras (2008) China - ECFA (2010) New Zealand - ANZTEC (2013) Singapore ASTEP (2014 April) 12
14 Summary on managing customs compliance 1. Dutiable Value 2. Tariff Classification 3. Preferential Origin Prepare supporting documents to demonstrate that the declared value is appropriate. Identify and analyze payments that may be deemed dutiable. Proactively communicate with Customs to ensure that valuation methods are compliant. A tariff database should be established from the ex-factory level. Although Customs may not entirely accept the tariff code of the exporting country, it may still be good supporting material. Actively engage Customs in classification issues, and seek for a classification ruling or push for an internal opinion on tariff codes when applicable. Work with vendors to confirm the product origin qualification, and obtain a Certificate of Origin. Proactively manage 3 rd party re-invoicing, the direct shipment rule and loss of origin during temporary storage in a regional distribution center. 13
15 Product Inspection, Labeling & Standards
16 Bureau of Standards, Metrology, and Inspection ( BSMI ) General Overview MP1 / MW0 Licensing Inspection Standards Customer in Taiwan Labeling Testing Exemptions 15
17 What can apparel retailers expect? Mandatory inspection on certain apparels Import ban on certain apparels made in China Various standards for apparels and accessories Impacts to: 1. Customs clearance lead time. Goods made of protected wildlife or endangered species may only be imported with a special (CITES) import permit issued by the Bureau of Foreign Trade. The Bureau of Standards, Metrology, and Inspection ( BSMI ) is the governing authority of conducting testing and quality checks on imported apparel at both a port level and in the domestic market. Currently, infant garments, bras, girdles, and corsets are subject to compulsory inspection upon importation. However, starting from 1 July 2014, the scope of inspection-required clothes will be expanded significantly (up to 367 tariff codes in total). 2. In-store merchandise range and thus in-store sales. 16
18 What can apparel retailers expect? (continued) Mandatory inspection on certain apparels Import ban on certain apparels made in China Various standards for apparels and accessories Impacts to: By law, inspection-required clothes must meet the criteria stipulated in CNS Yet in practice, the BSMI also refers to various CNS as well. Taiwan s labeling criteria is complicated and not always in tune with international standards. Care symbols are set to be renewed March The country of origin must be labeled on the merchandise when entered at the port level. As mentioned a significant volume f apparels made in China are banned. Footwear and certain accessories (e.g. sunglasses) may have specific standards and requirements. 1. Customs clearance lead time. 2. In-store merchandise range and thus in-store sales. 17
19 Main standards for product testing and labeling CNS Chinese National Standards for Safety of Textiles Apparel Labeling Criteria Main criteria for the labeling of apparels and textiles Major standard for textiles products safety testing Major standard for apparel and textile product labelling Focuses on safety standards for: - A Chemical residuals (e.g. lead, cadmium, etc.) - B Physical safety (e.g. length of rope or string) Covers the general information and content required on hangtags, sewn-in labels, and packages. 18
20 Trade Facilitation
21 Authorized Economic Operator ( AEO ) 2 types of AEO: General AEO and Supply Security AEO AEO enterprises enjoy privileges such as lower inspection rates, expedited clearance, and deferred duty payment. Supply Security AEO enterprises have the lowest inspection rates and can be waived from import inspection for certain shipments. Enterprises are realizing the economic benefits of being recognized as an AEO with increasing numbers of certified enterprises. Mutual recognition with SG, US, and Israel. 20
22 Summary and Q&A
23 Summary Commercial Trends 1. Increasing growth in fast-fashion industry. 2. Entering of international apparel companies (e.g. ZARA, Uniqlo, Gap). 3. On-line and off-line business models (e.g. next, lativ). 4. Growing competition in the fashion retail sector. Broad Import Strategies 1. Equip yourself with regulatory knowledge. 2. Understand the Chinese import ban and other non-tariff barriers such as the fast changing rules from BSMI. 3. Deal with varying interpretations from Customs. 4. Engage with appropriate service providers.
24 Thank you! This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, PricewaterhouseCoopers Worldtrade Management Services (Shanghai) Co., Ltd. its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it PricewaterhouseCoopers Worldtrade Management Services (Shanghai) Co., Ltd. All rights reserved. In this document, refers to PricewaterhouseCoopers Worldtrade Management Services (Shanghai) Co., Ltd which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.
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