Logistics, Trade Administration and Supply Chain

Documents play a key role in international transactions. Both buyers and sellers need documents for bookkeeping, accounting, taxation, export and import formalities, as well as making payments using letters of credit and other documentary payment methods. This segment will give some examples of the most commonly used documents in the international trade. It is not an exhaustive listing. Specialized trades, special circumstances and different countries of origin and destination may require additional documentation. Transaction Documents The key transaction document is the invoice or commercial invoice. This document is used by all parties to the transaction for accounting and bookkeeping purposes. It is also required for export and import formalities as well as most banking and payment procedures. Export Documents These are documents required by the customs or national export authority of the country of export and vary greatly from country to country. Included are licenses,...

If a LMW finished goods are of a class prohibited on import/export he will be allowed to carry on with the manufacturing but the finished goods when released to domestic market or exported will have to be subjected to the prohibition orders. Import or export license, whichever applicable must be obtained from the International Trade and Industry Ministry and the approval must presented to the Customs at the port/place of import/export. Control on Premises Generally, LMW are documentary controlled by the Customs. As such, customs officers will not be stationed at the licensed premises. Manufacturing process can be carried out without limitation to the time but no dutiable goods shall be brought in or taken out of the licensed premises outside the normal opening hours without due written permission from the State Customs Director where the LMW is located or based at. Valuation Dutiable value of the manufactured goods released for home consumption will be determined on the ...

Raw material and components eligible for duty exemption are as follows: Customs duty exemption to all raw materials and components used directly in the manufacturing process of approved produce from the initial stage of manufacture until finished goods products is finally packed ready for export. This includes packaging materials and casings. The list of raw materials and components that can be imported and taken to LMW without payment of customs duty is issued together with the LMW license. Addition or deletion to the list can be made from time to time; Goods subject to excise duty incorporated in the final product, e.g. dry cell batteries may be exempted from excise duty. Application for such excise duty exemption should be made to the Treasury for consideration under Section 10 (a) of the Excise Act 1976. Materials or goods that are not eligible for duty or tax exemptions are as follows: Fuel Oil; Building and construction materials; Office equipment; Furniture; Mat...