Thailand: Voluntary disclosure program – KPMG United States1 min read
A firm with import and export transactions may well, via self-discovery or internal audit, have to have to update or revise facts on an import or export entry declared to the Thai customs division in get to ensure its customs compliance.
Organizations that have to have to make such a revision and pay back additional responsibility to the customs office may possibly look at making use of to the “customs just one cease service”—a voluntary disclosure application. This voluntary disclosure plan has been prolonged for 5 yrs (from 1 October 2021 through 30 September 2026).
Under the voluntary disclosure plan, the pursuing positive aspects are out there to an eligible applicant:
- Settlement of the scenario and further duty payment at the customs department’s headquarters, as a substitute of at the port(s) of entry
- Exemption from related customs responsibility penalties
- Reduction of the regular customs surcharge to .25%, .5%, and .75% for merchandise imported inside a one-, two-, or a few-calendar year period of time, respectively
Nonetheless, applicants will be viewed as ineligible for the software if they have fully commited specific customs offences (e.g., smuggling, intention to evade customs obligation, or importation of prohibited or limited merchandise), are at this time undergoing a customs article-clearance audit, or are remaining investigated or prosecuted for customs offences by other governing administration authorities.