Enhancing supply chain compliance, efficiency and security.
Customs and trade rules are complex, globally varied and ever evolving. To remain competitive businesses must navigate through tariff and non-tariff barriers and proactively seek out benefits offered by preferential customs and trade programs. At Grant Thornton, we’re here to help.
Thailand enacted a new Customs Act in 2017, replacing a collection of prior customs laws dating from 1926. With the modernisation of the country’s customs and related trade regulatory regimes, customs procedures, laws and regulations are becoming increasingly complex. Coupled with the Customs Department’s aggressive enforcement of non-compliance, companies must prioritise customs compliance in order to safeguard against inadvertent offenses and the resultant penalties.
At Grant Thornton Thailand, our customs and trade advisors counsel companies on various imperative customs and related import/export matters including:
- Customs valuations;
- Product classifications;
- Customs audits and dispute resolutions;
- Customs rulings, including advance rulings;
- Customs formalities and procedures;
- Preferential duty treatments and VAT associated with imports and exports.
Customs Privilege Planning
Businesses seeking to improve supply chain efficiencies are faced with the challenges of identifying and selecting beneficial duty privilege schemes that fit their needs. Proper selection requires a thorough understanding of the benefits and costs of each scheme.
Our customs and trade advisors can help companies gain clarity and identify the appropriate customs privilege scheme for their business.
We assist companies in planning and implementing:
- Authorised Economic Operator (AEO) certifications;
- Board of Investment (BOI) import duty privileges;
- Bonded Warehouses;
- Customs Free Zones/IEAT Free Zones;
- Duty Drawbacks;
- Re-export Duty Privileges;
- Duty Privileges for manufacturing activities.
ASEAN+ Trade Planning
As an ASEAN member and a preferred trading partner with 17 countries, Thailand is a signatory of bi-lateral and multi-lateral free trade agreements (FTAs) covering 10 ASEAN countries, Australia, Chile, China, India, Japan, New Zealand, Peru and South Korea.
We advise and assist companies on utilising preferential duty privileges and other privileges offered under the bilateral, ASEAN, and ASEAN+6 FTAs. Our services include:
- Studies on preferential duty benefits offered under the bilateral, ASEAN, and ASEAN+6 FTAs;
- Advisory on FTAs product rules of origin (ROO);
- Product origin verifications;
- FTA compliance audits.
From time to time, businesses are faced with regulatory “red tapes” that hinder growth, that are obsolete, or that fail to provide a level playing field for fair competition. In such instances, companies often decide to exit the market and forego potential business opportunities.
Our team at Grant Thornton has assisted businesses to formulate and implement strategies to engage with authorities and advocate for improvements to the regulatory landscape. We have experience in working with companies to:
- Advocate for import duty eliminations for essential raw materials;
- Advocate for reductions in regulatory compliance burdens for goods and services;
- Advocate for regulatory changes to accommodate modern market realities and transaction structures.
Import & Export Controls
Thailand’s import and export control laws are enacted in multiple legislations and are supervised by different government agencies. Companies have difficulties in recognising controls applicable to their goods. Non-compliance is often discovered during the customs clearance process or in customs audits.
Our customs and trade advisors routinely assist companies to review goods for import and export control measures, and assist in applying for the required permits to ensure compliance.
We have handled projects involving:
- Hazardous substance controls;
- Mandatory industrial product standards;
- Food & Drug Administration (FDA) controls;
- Animal & livestock controls;
- Controls imposed by the Ministry of Commerce (including duo-use goods);
- Controls imposed by the Ministry of Defense (including duo-use goods);
- Controls on industrial and electronic waste.