Takehome:
On May 30, 2018, Hong Kong Government put forward to the Legislative Council a notice which proposes to amend the Import and Export (Registration) Regulations for capping the charge for each import and export declaration (TDEC) at HK$200.
The Legislative Council Panel on Commerce and Industry at its meeting in April indicated its support for the Government's proposed legislative amendments. The amendments, as set out in the Import and Export (Registration) (Amendment) Regulation, will be introduced into the Legislative Council for approval by positive vetting procedures on June 20. Subject to the passage of the resolution within the current legislative session, the amendments will come into effect on August 1, 2018.
The proposal seeks to develop Hong Kong into a trading, storage, logistics and distribution hub for high-value goods. The Secretary for Commerce and Economic Development, Mr Edward Yau, said the amendment would further lower the cost of importing and exporting high-value goods to and from Hong Kong, bringing direct benefit to the local trading and logistics industry and encouraging the industry to move up the value chain. The proposed cap is expected to reduce overall trading costs by HK$458 million a year and benefit about 900 000 TDEC cases involving goods at a value above HK$1.644 million.
We provide full-scale global cosmetic market entry services (including cosmetic registering & filing, regulatory consultation, customized training, market research, branding strategy). Please contact us to discuss how we can help you by 
