In 2016, the China Customs released the revised version of the Customs Audit Regulations and introduced the 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 a lenient administrative penalty as well as reduced or exempted late payment surcharges. Therefore, companies should establish a comprehensive internal review system enhance their self-discipline level to identify incompliance issues and risk areas in a timely manner and make improvements.
Shanghai Customs will brief members on this topic on September 26, Thursday from 9:00 – 11:00am at AmCham Shanghai Conference Center. Mr. Yu Bo from Shanghai Custom's Inspection Department will brief members on this important regime along with its implementation rules, and how member companies can benefit from this system.