Australian Border Force's Compliance Update
The latest Goods Compliance Update has been published by the ABF's Customs Group and can be found at:-
Revenue understatements on page 22:-
Value of revenue understatements identified from Investigations and Compliance activities
Financial year to date 2020 – 2021 (July to January)
Post Transaction Verification - $59,688,309
Pre-Clearance Intervention - $7,466,967
General Monitoring Program - $171,027
Voluntary Disclosures - $58,445,930
Refused Refunds - $2,322,148
Revenue understatements – Trade Remedies
During the period 1 October to 31 December 2020, Trade Compliance officers conducted 33 activities to ensure a level playing field in relation to the enforcement of trade remedy measures, primarily focusing on:
- Aluminium extrusions;
- Hollow Structural Sections (HSS); and
- Steel pallet racking
Value of revenue understatements identified from trade remedies investigations and compliance activities (Australian Dollars) Trade remedies understatements identified 1 July – 31 December 2020 (20-21 YTD)
- Customs duty $33,441.19
- Dumping duty $1,809,070.47
- Countervailing duty $257,659.21
- GST $389,300.48
In order to reduce exposure to underpayments of Customs & Dumping Duty trade measures, we recommend undertaking one of our Customs Compliance Reviews of your company's last four years of import declarations lodged by freight forwarders on your behalf, to ensure correct compliance is achieved and as a consequence, potential liabilities reduced or eliminated for the past and future.
Any enquiries can be directed to:-
Amy Wilkinson
Mobile: 0417 088 333