TradeNPU | Knowledge Basket

Knowledge Basket

If a Certificate of Origin is issued retrospectively in Singapore with the phrase 'ISSUED RETROSPECTIVELY', will it be accepted by Korea Customs without any issues during clearance? Released

26/01/15 21:14 0 112

Yes, even if the phrase 'ISSUED RETROSPECTIVELY' is written on the Certificate of Origin (CO) issued in Singapore, it can be accepted without issue during customs clearance in Korea. …

Can I get a duty refund for a $1,000 bag if I return it for a zipper defect or color? What documents are needed? Is it 'unused' if worn briefly in Korea? What is the refund deadline if I self-declared and paid? Released

26/01/15 06:14 0 115

You have inquired about a customs duty refund after returning a luxury bag purchased at a duty-free shop due to defects or dissatisfaction with the color. To start with …

I would like to set up a cryptocurrency exchange to provide services for foreigners. Given it is a currency exchange business, I am wondering if there are any legal or installation issues. Released

26/01/15 02:22 0 104

Cryptocurrency exchange offices, especially exchange services using 'Dollar Stablecoins,' are being operated for foreigners under the government's regulatory sandbox approval. Currency exchange is available for up to $2,000 …

🇸🇦 Saudi Arabia Entry Guide: 2025 Latest Regulations & Essential Business Customs Procedures 🕌 Released

26/01/14 21:11 0 493

Saudi Arabia, which is undergoing dynamic changes through the 'Vision 2030' project, has recently been modernizing its customs procedures, including the online ATA Carnet customs clearance (implemented June 2024) and …

Taiwan Entry Guide: Comprehensive Guide to Duty-Free Allowances and Currency Regulations 🇹🇼✨ Released

26/01/14 06:21 0 643

We have summarized the duty-free limits for personal effects and regulations on bringing in foreign currency and precious metals that you must know for smooth customs clearance when …

If I receive payment for an export contract with Company A in China from Entity B in Hong Kong, must I file a third-party payment report under the Foreign Exchange Transactions Act? Released

26/01/14 02:19 0 116

To start with the conclusion, if you receive (receipt) export payments from a third party who is not the contracting party as you inquired, no separate reporting procedure under the …

I would like to sell products through parallel importation. What documents are required for customs clearance? Released

26/01/13 21:20 0 155

When preparing for a parallel import business, one of the most critical factors you will likely consider is how to secure inventory. Consequently, you may be especially curious about …

Are there exceptions under KORUS FTA regulations where importer information is not mandatory if a US exporter is unaware of the importer's identity when issuing a Certificate of Origin due to a third-party invoice transaction? Released

26/01/13 06:18 0 236

You have inquired about whether importer information must be included when issuing a Certificate of Origin (CO) under the Korea-U.S. Free Trade Agreement (KORUS FTA). This is an important …

I frequently shop overseas and heard that Personal Customs Clearance Codes must be renewed every year starting in 2026. Why is this changing, and what happens to those who already have a code? Released

26/01/13 02:13 0 442

The Korea Customs Service (KCS) recently revised the "Notice on Registration and Management of Personal Customs Clearance Codes and Overseas Vendor Codes." **Starting in 2026, a validity period (1 year) …

If the origin criteria for exported goods is a combined rule requiring both CTSH and Value Added (Build-down 45% or Build-up 30%), what codes should be entered in Box 6 and Box 7 of the Certificate of Origin respectively? Released

26/01/12 22:34 0 119

In FTA practical operations, a very important question is which codes should be entered in Box 6 and Box 7 of the Certificate of Origin (CO) when the …