Taizhou Customs waives over 20m yuan in fines on 18 firms

The customs office in Taizhou city – located in China's East Jiangsu province – has over the past year waived over 20 million yuan ($2.76 million) in fines imposed on 18 companies, in a bid to business activity in the area.

A new national customs self-disclosure policy allows import-export companies to report violations before customs discovers them, potentially reducing or eliminating penalties.

In April this year, the General Administration of Customs in Beijing launched an online self-disclosure feature on the China International Trade Single Window, significantly improving efficiency and reducing costs for businesses.

In response, Taizhou Customs has actively promoted the self-disclosure policy through various initiatives.

Over the past year, 18 companies are reported to have benefited – resulting in the recovery of over 3 million yuan in taxes, a reduction of 700,000 yuan in late fees and the waiver of over 20 million yuan in fines, thereby boosting business vitality.

Recently, local manufacturer Taizhou Liancheng Plastic Industry Co Ltd concluded a self-disclosure case with Taizhou Customs. After paying over 60,000 yuan in taxes, the company was exempted from more than 50,000 yuan in fines and late fees.

Last October, Liancheng Plastics imported goods from Japan and incurred demurrage fees due to port congestion. The company failed to pay the import duties and VAT on time.

After attending a Taizhou Customs policy seminar in May, Liancheng promptly filed a self-disclosure application online.

Elsewhere, Jiangsu Yangzijiang Shipbuilding Co Ltd has also benefited from the policy.

After discovering non-compliance in its bonded processing operations, the company disclosed the issue to customs. This led to the waiver of nearly 3 million yuan in fines, safeguarding its credit rating.