- Overview
- Academics and Analysis Estimator
- Installment Payment of Customs Duty of Small and Medium Enterprises
Measure whether items are restricted in domestic production for the sake of installment payment of customs duty of small and medium enterprises
Recommendation of items that cannot be produced domestically for the sake of installment payment of customs duty of items imported according to 6 of Provision(2) of Article 107 of Customs Act and Provision (3) and (4) of Article 59 of Enforcement Rules of Customs Act
6 of Provision (2) of Article 107 of Customs Act
- Article 107 (Installment Payment of Customs Duty) (2) When any of the following goods are imported, the head of a customs office may permit the installment payment of any customs duty within a fixed period not exceeding five years, as prescribed by Presidential Decree:
- 6. Goods imported by small manufacturing firms determined by Ordinance of the Ministry of Strategy and Finance for their direct use, provided that such goods shall be in conformity with the standards determined by Ordinance of the Ministry of Strategy and Finance;
Provision (3) and (4) of Article 59 of Enforcement Rules
- Article 59(Requirements for Installment Payment of Customs Duty)
- (3) Small manufacturing firms that can receive approval for installment payment of customs duty under 6 of Provision (2) of Article 107 of Customs Act are limited to small firms that are specified in Provision (2) of Framework Act on Small and Medium Enterprises and classified as manufacturing firms according to Korean Standard Industrial Classification Table.
- (4) Goods for which installment payment of customs duty is permitted according to 6 of Provision (2) of Article 107 of Customs Act shall fall under Type 84, 85 and 90 of Customs Tariff Table of Schedule of Customs Act and meet the following requirements.
- 1. The items shall not be exempt from customs duties according to the law and other acts and treaties relevant to customs
- 2. Relevant customs duties shall be 1milllion won or higher
- 3. The items shall not be subject to Provision (51) or (72) of Customs Ac
- 4. The items shall be difficult to be produced domestically and confirmed by Minister of the component Ministry in charge of production of competent items or head of the entrusted institute