China will exchange customs data with Pakistan from April 30

&Pakistan's business record daily reported on December 8, 2017 that Pakistan's senior customs officials said that since the signing of the information exchange agreement between Pakistan and China's customs, the two countries' customs began to set up an online module. At present, this part is nearing the end, and Pakistan's customs will start to exchange information with China's customs in April 2018. With the help of the information exchange system, Pakistan customs will grasp the actual value of Chinese products and the declaration value of importers, which will help them crack down on underreporting export and tax evasion, and effectively identify the authenticity of FTA certificates.

&On March 3, 2018, the official website of Pakistan International News newspaper released: since the signing of the information exchange agreement between Pakistan and China, the customs of the two countries have started to set up online modules. At present, Pakistan customs has completed all preparations for electronic data exchange(EDE), and the deadline is April 30. This means that the customs clearance amount declared by local importers in Pakistan must be consistent with the export amount declared by Chinese exporters to China Customs before customs clearance can be successfully completed. Otherwise, local importers in Pakistan will be fined!(link to the original text: https://www.thenews.com.pk/print/287689-pakistan-china-to-exchange-data-from-april-30-to-check-trade-mispricing )


&Before the exchange of Customs electronic data, a large number of importers in Pakistan report the price of imported goods at a price lower than the invoice, so as to achieve the purpose of tax evasion, while China's export declaration is truthfully declared according to the actual price of the goods. After the exchange of electronic data, the inconsistency between the two will be completely transparent. If you want to report a low amount of customs clearance, Chinese exporters must simultaneously reduce the amount of export declaration, which in turn will directly reduce the tax refund of Chinese exporters.

&This means that the amount of export declaration, import declaration and China Brazil FTA certificate of origin should be consistent.