PwC Tax Insight PwC Tax Insight # 02/2014 TAX & LEGAL UPDATE UPDATE

PwC Tax Insight # 02/2014
TAX & LEGAL UPDATE
TAX & LEGAL Services
Heading:
The following report
may be of interest to:
Summary:
*Issue Date: 06 February 201
2014
Removal of FOB value in Certificate of Origin Form D for Certain
shipments
Im
Importers
/ Exporters
In line with the decision made by the AEM (ASEAN
ASEAN Economic Ministers
Ministers) - 27th
AFTA (ASEAN Free Trade Area) Council Meeting on 19 August 2013
2013, Thai
Customs has now issued Customs Notification no. 6/2557 re:
Amendment to Customs Notification No.1/2555
o.1/2555 dated 22 January
2014 to remove the FOB disclosure requirement from the preferential Certificate
of Origin Form D (Form D) under the ASEAN Trade in Goods Agreement
(ATIGA).
According to the
th Notification, the ATIGA Operational Certification Procedures
(OCP) and Box 9 of the Certificate of Origin Form D (Form D) have been
amended to reflect the change that the FOB value is required only when the
Regional Value Content (RVC) rule is applied.
applied. This means that where other rules
of origin are applied (e.g. Wholly Obtained (WO), Change in Tariff Classification
(CTC) or Specific Process), there is no longer a requirement to include the FOB
value in box 9 of the Form D.
This means companies may no longer be required to make their manufacturing
prices known to buyers, particularly where goods are shipped from Thailand but
billed through a regional headquarters.
headquarters
© 2014 PricewaterhouseCoopers Legal & Tax
Consultants Ltd. All rights reserved.
‘PricewaterhouseCoopers’ and/or ‘PwC’
refers to the individual members of the
PricewaterhouseCoopers organisation in
Thailand, each of which is a separate and
independent legal entity. Please see
www.pwc.com/structure for further details.
This content is for general information
purposes only, and should not be used as a
substitute for consultation with professional
advisors.
The new Notification is retroactively effective from 1 January 2014 onwards
onwards.
The new Form Ds should be accepted by the authorities in other ASEAN
countries (except for Cambodia and Myanmar who have been given a 2 year
transition period to implement the new rule). It is understood that o
other ASEAN
countries have already started to issue their internal implementing regulati
regulations to
introduce the new Form D. This means that an old Form D issued on or before
30 June 2014 can still be used to claim the duty privileges in the ASEAN
countries as long as the Form D is submitted within its validity period of one year
from the date of issuance.
issuance
PwC Thailand helps organisations and
individuals create the value they’re looking
for. We’re a member of the PwC network of
firms in 157 countries with more than
184,000 people. We’re committed to
delivering quality in assurance, tax and
advisory services. Find out more by visiting
us at pwc.com/th.
For further information, please contact:
For further information, please contact:
- Mr. Paul Sumner at [email protected] or 02
02-344-1305.
- Mr. Santi Krongsithidej at [email protected] or 02-344-1341.
- Mr. Nu To Van at [email protected] or 02-344
344-1353.
Page 1 of 1