China to update customs audit regulations

China to update customs audit regulations

China Tax Alert - Issue 24, September 2014   More than two decades after the first Customs Audit Regulations of the People's Republic of China (State Council Order No. 209) were released, the same regulations are now up for revisions within the year to meet the demands of a changing commercial and enforcement environment. In order to respond to the specific concerns of businesses and the general public, the Legislative Affairs Office of the State Council of the PRC has released a draft of the new regulations for comments.   For the benefit of companies interested to know more about the possible changes to the regulations, we have prepared in this Alert a summary of the key revisions and how this may have an overall impact in the way Customs and businesses interact.