Why advanced planning in customs duties and major projects is a must

Preplanning for duty minimisation prior to a final investment decision of a project can deliver significant benefits, write Leonie Ferretter and Graeme Hartnett.

Organisations embarking on major projects in Australia will know that it takes a lot of collaboration and planning. In almost all cases, multiple business functions are required to work in tandem if the project is going to run to budget and schedule. One of the earlier planning activities that should be undertaken, and is often forgotten, is an understanding of the finance, tax and procurement functions as they relate to customs duty. The typical rate of customs duty in Australia for impor...

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Authors: Leonie Ferretter, Graeme Hartnett

Published Date: 09 November 2021