CUSTOMS AUDIT
CONSULTING SERVICE

What is
Customs Audit?

The customs audit is a comprehensive examination of all import and export activities, including the accuracy of the declared tax amount and customs requirements stipulated in relevant statutes.

Types of Customs Audit

STEP 01
Corporate Audit
(Regular Examination)
Examination on the overall legality of customs clearance of firms that fit in specific standards including the import and export volume on a regular basis.
STEP 02
Project Audit
(Irregular Examination)
Examination on the legality of customs clearance of firms that are selected on the basis of analysis on the basic planning of project audit and customs clearance legality
STEP 03
Comprehensive
Examination
(Regular Examination)
Examination of the status of implementation of AEO certified standards and the field of clearance legality for AEO enterprises from 2 years after the accreditation to 6 months before the expiration
STEP 04
Other Customs Refund
Examinations
Examination on whether the customs refund application requirements are satisfied and the calculation of the required amount is suitable in accordance with the Customs Act and the Special Act on Refunds

Subject Items for
Corporate Audits

Customs Valuation and the Dutiable Value
  • The adequacy of the transaction price (especially the adequacy of T/P for transactions between related parties)
  • Adequacy of additional adjustment factors such as Loyalty fee
  • Adequacy of application of deduction factors, etc.
Classification and Tariff Reduction/Exemption
  • Adequacy of classification and duty rate application
  • Eligibility for customs reduction/exemption and adequacy of post management
Compliance with Foreign Exchange Transaction Act
  • Methods of payments such as offsetting, third party payments, overdue payments, and etc.
  • Methods of payment not through a foreign exchange bank
  • Details of capital transactions such as financial derivatives
Legality of Country of Origin and Customs Clearance
  • Legality of origin marking according to the Foreign Trade Act
  • Customs clearance and other requirements
Customs Refund
  • Adequacy of customs refund
Import Requirements
  • Customs Verification of Clearance Requirements
  • Declaration subject to Consolidated Public Notice

Consulting Process