The treatment of imports and exports at the border depends, by and large, on a wide number of trade laws and administrative rules. These rules range from complex trade laws and non-transparent rules to simple and business friendly regulations. This varying range of treatment is a reflection of trade policies and customs regulations that are themselves subject to continuing and rapid change. These policy changes offer business opportunities, but can also result in heightened business risks.
With the increasing emphasis on enforcement and compliance, keen awareness of customs rules and regulations may allow companies to mitigate, reduce or eliminate the potential for errors and costly penalties. To stay wellahead of the curve, we have established close links with senior customs and trade officials throughout Asia and thus, we are able to provide insight into both operational and policy matters.
PricewaterhouseCoopers' (PwC) Worldtrade Management Service (WMS) is a service line specializing in customs duties and the taxation of international trade transactions, The WMS team consists of professionals from a variety of backgrounds including former customs and trade officials from authorities across the Asia Pacific region, Europe and North America, as well as seasoned trade attorneys, accountants and systems specialists. With a blend of professionals who have both global and local skills, we offer our clients a multi-disciplinary team that has unmatched expertise in all key areas of customs and trade. Moreover, unlike other service providers, our professionals have the practical experience of understanding the realities of operating in Asian countries.
Formed in March of 2000, the WMS team in Japan provides high quality services with the cooperation of other WMS offices located throughout the world. In this regard, we are part of an extensive network of dedicated trade and customs consultants in over 60 countries. We have the largest and most extensive customs and trade advisory services in Asia with dedicated professionals located in countries throughout the region including Singapore, Hong Kong, the PRC, Malaysia, Indonesia, Taiwan, the Philippines and Thailand, in addition to our practice in Japan.
We, as professional specializing in global customs and trade issues, assist in optimizing the management of operational costs resulting from custom duty liability, as well as minimizing the time required to analyze complex international transactions by leveraging our knowledge of applicable trade laws, regulations, rules and administrative practices.
Our professionals offer your company a wide range of services and solutions including advice with respect to the following:
- Proper determination of both customs and payment values (including "unbundling" of the transfer price);
- Achieving significant tax savings through the implementation of structures such as a "Commissionaire" arrangement or a Japan "Earlier Sale" (or "First Sale") arrangement;
- Achieving significant tax savings by assisting with the implementation of duty savings strategies concerning royalty and license fee arrangements;
- Achieving significant reductions in the company's custom duties liability by identifying and utilizing applicable preferential market access arrangements and the web of bilateral Free Trade Areas (FTAs);
- Achieving significant savings through the utilization of bonded areas;
- Assistance with and establishing strategies for Japan Customs audits; and
- Negotiation with the appropriate customs and trade authorities regarding the proper customs valuation of imported merchandise.
With its particular focus in the Asia Pacific region, WMS provides companies operating in the Asia Pacific region the tools to implement measures that enhance both the company's operating efficiency and competitiveness in its industry. Specifically, we advise our clients on how they can capitalize on cost savings opportunities available under the ASEAN FTA and the growing number of bilateral free trade arrangements relevant to companies operating in the region. In this respect, we can further assist in:
- Enhancing revenue and profit growth by using ASEAN FTAs;
- Enhancing market access opportunities by using ASEAN Industrial Cooperation Scheme (AICO); and
- The rationalization of global procurement and manufacturing sites.
