Customs, trade and the WTO
Tax planning is regarded as an essential element of most businesses' commercial strategy. Nevertheless, few businesses ensure that they comply with the increasingly complex requirements of country-of-origin rules, accurate tariff classification and GSP declarations.
Failure to address these important factors can result in substantial claims for back duty, interest and penalties - which are not tax deductible. Acting on the advice from of our highly experienced team, clients can often reduce the duty and VAT impact on imports, as well as mitigating challenges by customs authorities.
Attention to detail and a thorough assessment of market conditions in anti-dumping investigations, as in many other areas of our practice, offer a solid foundation upon which to defend proceedings in the EU and elsewhere.
The WTO agreements which underpin much of trade legislation are of increasing importance in today's commercial environment; we are able to help clients understand and exploit the new opportunities for dispute settlement which they present.
Our experience in this field includes:
- advising on the changes required to the People's Republic of China's trade, safeguard and origin legislation upon joining the WTO
- advising various Chinese organisations on the possible introduction of trade measures
- advising various US companies on the EU's imposition of quotas on toys and shoes from the People's Republic of China; subsequently analysing options open to those companies to relocate production in the light of origin and GSP considerations
- advising a major PC manufacturer in anti-subsidy proceedings by the European Commission against a manufacturer of computer memory chips
- advising a German company importing products from the People's Republic of China in its defence against anti-dumping duties and forcing the Commission to limit the application of the respective anti-dumping regulation.