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Customs

All articles tagged with #customs

EU closes low-value import loophole with €3 flat duty on small parcels
business10 days ago

EU closes low-value import loophole with €3 flat duty on small parcels

From July 1, the EU will apply a flat €3 customs duty to low-value imports (under €150), ending the de minimis loophole exploited by Shein, Temu and AliExpress; marketplaces will become liable importers, a planned €2 handling fee is set, and a 2028 system will tax every item dynamically, all aiming to curb unsafe, non-compliant fast-fashion and level the playing field for European retailers—though shoppers may face higher checkout costs and potential delays.

via Euronews.com|
#business#customs#ecommerce
US explores settlement path to refund billions in tariffs after Supreme Court ruling
business1 month ago

US explores settlement path to refund billions in tariffs after Supreme Court ruling

U.S. Customs and Border Protection heads to the Court of International Trade to negotiate returning billions in tariffs deemed illegal by the Supreme Court, with Phase 1 refunds of about $90 billion already approved and roughly $22 billion sent to the Treasury. The next phase covers more complex, liquidated tariffs that often require lawsuits, a hurdle for smaller importers, and some groups are pushing for a class action to streamline refunds. The hearing is framed as settlement talks as the court weighs how broad a remedial order can be.

via CNBC|
#business#court-of-international-trade#customs
$18M Worth of Fake Gibson Guitars Seized in California Bust
crime1 year ago

$18M Worth of Fake Gibson Guitars Seized in California Bust

Authorities in Southern California have seized 3,000 counterfeit Gibson guitars at the Los Angeles-Long Beach Seaport, valued at $18 million if genuine. The operation involved multiple agencies, including U.S. Customs and Border Protection and Gibson Inc. The fake guitars were likely intended for the e-commerce market, and experts noted several telltale signs of their inauthenticity. This seizure is the largest of counterfeit musical instruments on record, and the investigation into the operation is ongoing.

via NBC News|
#counterfeit#crime#customs
Record-breaking Gold Smuggling Bust: $10 Million in Gold Disguised as Machinery Seized
crime2 years ago

Record-breaking Gold Smuggling Bust: $10 Million in Gold Disguised as Machinery Seized

Hong Kong customs officials seized over $10 million worth of suspected gold hidden in air compressors on a freight plane bound for Japan, marking the largest gold-smuggling case in Hong Kong in terms of seizure value. The gold had been carefully molded and concealed within the machinery, likely to evade Japan's import tariffs. A 31-year-old man was arrested in connection with the case, and gold is considered a valuable commodity by investors and criminal networks due to its stable value and ease of transformation for money laundering purposes.

via Business Insider|
#crime#customs#freight-plane
"Record-breaking Gold Smuggling Bust in Hong Kong"
crimesmuggling2 years ago

"Record-breaking Gold Smuggling Bust in Hong Kong"

Hong Kong authorities seized over $10 million worth of gold, disguised as machine parts, in the city's largest gold smuggling bust. The gold, molded and camouflaged as part of two air compressors, was intended to be shipped to Japan to evade import tariffs. A 31-year-old has been arrested in connection with the case, and investigations are ongoing. This comes amid a surge in gold prices, with the commodity hitting successive record highs in 2024.

via CNBC|
#crimesmuggling#customs#gold-smuggling
"7 Arrested in $1.8 Billion Transnational Money Laundering Case in Hong Kong"
crime2 years ago

"7 Arrested in $1.8 Billion Transnational Money Laundering Case in Hong Kong"

Hong Kong customs officials have arrested seven people in connection with the territory’s largest ever money laundering case, involving about $1.8 billion, some of which is linked to a scam case in India. The syndicate used shell companies and bank accounts to transfer large sums from overseas to the city under the guise of running international trading businesses. Authorities believe the syndicate received remittances from India in the name of exporting electronic devices, diamonds, gems, and precious metals, and then transferred the proceeds to bank accounts in Hong Kong for money laundering. The investigation, which involved cooperation between law enforcement in Hong Kong, India, and elsewhere, is ongoing.

via The Associated Press|
#crime#customs#hong-kong
Arnold Schwarzenegger Detained at Munich Airport Over Luxury Watch
europe2 years ago

Arnold Schwarzenegger Detained at Munich Airport Over Luxury Watch

Arnold Schwarzenegger was detained at Munich International Airport after failing to declare a luxury watch, which he claimed was for charity, during a routine customs inspection. The watch, valued at over 430 euros, was from his personal collection and was intended for auction at a charity event in Austria. Despite a potential tax exemption for charitable items, Schwarzenegger will face formal criminal tax charges, with any penalties to be determined during the proceedings.

via The New York Times|
#arnold-schwarzenegger#customs#europe
Arnold Schwarzenegger detained at German airport for luxury watch
celebrity-news2 years ago

Arnold Schwarzenegger detained at German airport for luxury watch

Arnold Schwarzenegger was detained for hours by customs at Munich Airport after arriving in Germany with a luxury watch, potentially to be auctioned at a charity event. The watch, valued at about 20,000 euros, was allegedly undeclared and prompted a routine check due to its value exceeding 430 euros. Schwarzenegger's charity auctions raise millions of dollars for after-school programs and environmental work, and his team stated that the watch is likely to be auctioned despite the incident.

via ABC News|
#arnold-schwarzenegger#celebrity-news#charity-event
Arnold Schwarzenegger detained at German airport for luxury watch
celebrityentertainment2 years ago

Arnold Schwarzenegger detained at German airport for luxury watch

Arnold Schwarzenegger was detained by customs at Munich Airport for carrying a luxury watch potentially to be auctioned at a charity event, as it was not declared upon entry into Germany. The watch, valued at about 20,000 euros, was owned by Schwarzenegger and intended for auction at a charity event in Austria. The Schwarzenegger Climate Initiative confirmed the incident, stating that the watch was likely to be auctioned and that the charity auctions raise millions of dollars for after-school programs and environmental work.

via The Associated Press|
#arnold-schwarzenegger#auction#celebrityentertainment
Arnold Schwarzenegger Faces Legal Trouble for Undeclared Luxury Watch at German Airport
entertainment2 years ago

Arnold Schwarzenegger Faces Legal Trouble for Undeclared Luxury Watch at German Airport

Arnold Schwarzenegger was detained at Munich Airport and may face criminal proceedings in Germany over a luxury watch he brought into the country for a charity auction. The actor, en route to a charity event in Austria, was questioned for 2 1/2 hours and agreed to pre-pay taxes on the item, but encountered difficulties with credit card machines and ATM withdrawals. The watch is intended to be auctioned for the Schwarzenegger Climate Initiative, with proceeds going towards environmental projects.

via NBC News|
#arnold-schwarzenegger#charity-event#customs