Customs arbitration for disputes on security amount | Bangkok Post: business

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Customs arbitration for disputes on security amount

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When importers bring products into Thailand, the goods need to pass through customs formalities, during which officials will inspect the products to assess duties. Duties are determined based on the real market value of the product and all related taxes. This means that the amount of duty can vary in different circumstances, resulting in some importers disagreeing with the amount assessed. 

When an importer disagrees with the amount of duty but needs to clear the goods from customs, the importer can post security with the Customs Department.

But this does not provide a satisfactory option for many importers because the amount of security is equal to the duty assessed. Importantly, the security kept by the Customs Department will not be released until the amount of duty is settled.

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