ARTICLE · 02 SEPTEMBER 2024

Why Australian Tariff Compliance Is Far From A Nuisance

Moulis Legal

As signified by the influx of news reports concerning recent tariff negotiations and developments, import duties no longer benefit from the relative stability they once enjoyed.

AustraliaInternational Law

Alistair Bridges

Emily Schilling

KEY TAKEAWAYS

Effective 1 July, the Australian Government has set the duty rate to "free" for 457 tariff lines labelled a "nuisance".

Exporters and importers need to stay abreast of these changes and take action for their competitive advantage, both commercially and administratively.

Compliance costs are an investment in reducing tariff duties and keeping clear of audit costs and penalties for customs offences.

As signified by the influx of news reports concerning recent tariff negotiations and developments, import duties no longer benefit from the relative stability they once enjoyed.

Just last week it was announced that China and the European Union would hold talks to negotiate the tariff rates to be imposed on Chinese electric vehicles. And let us not forget, since March 2024, Australia has been benefiting from the removal of Chinese tariffs imposed on wine from 2020 at rates as high as 218%.

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Why Australian Tariff Compliance Is Far From A Nuisance

KEY TAKEAWAYS

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