Wuxi Customs recently published its list of the first 23 foreign-invested companies which will enjoy improved services.
Wuxi Customs will provide more efficient customs clearance facilities for the companies, including AstraZeneca and Bosch. The department will also use a variety of legal supervision methods and keep enterprises informed of any problems. In addition, an online platform will be introduced to help enterprises deal with affairs in their home countries.
Wuxi Customs will also provide a designated worker to handle voluntary disclosure regimes for listed enterprises, aiming to help them avoid or reduce surcharges for overdue tax payments or enterprises that are unable to declare accurate tax payments.
In 2016, China Customs released the revised version of the Customs Audit Regulations and introduced a self-discipline system and voluntary disclosure regime as an update to its audit system.
Under the regime, enterprises who voluntarily disclose their violations of customs regulations may enjoy lenient administrative penalties as well as reduced or exempted late payment surcharges. Therefore, companies should establish a comprehensive internal review system and improve self-discipline to identify compliance issues and risk areas in a timely manner and make improvements.
