The year is 2022, and companies are turning over a new leaf, making a concerted effort to become compliant with U.S. Customs laws and practices. Seemingly, there are no downsides to conducting a comprehensive Customs compliance review and submitting a Prior Disclosure under 19 U.S.C. § 1592(c)(4) and 19 C.F.R. § 162.74.
There are new tariff classifications for machinery under Chapter 84 of the Harmonized Tariff Schedule of the United States (âHTSUSâ). The changes to Chapter 84, as well as many other areas of the HTSUS, took effect on January 27, 2022, pursuant to Presidential Proclamation 10326 (December 23, 2021). Many of the changes to Chapter 84 were made to keep up with technological innovations and commercial use.
Many factors have contributed to reshaping and redefining Vietnamâs growing dynamic economy, which had once been coined by the United States as an underdeveloped country but is aggressively emerging to a developing country status.
Imagine your company imports from a vendor in Vietnam and sells them at a competitive margin in the U.S. Business is so-so until the Department of Commerce conducts an Antidumping or Countervailing Duty (âAD/CVDâ) review that encompasses your company or its foreign vendor and determines the origin of your goods to be China, which causes you to owe backlogged AD/CVD at rates over 100% ad valorem for the past year.
The costly Trump-Era tariffs and trade policies have largely remained in effect nearly a year into the Biden Administration. Now more than ever, importers are looking for ways to avoid or mitigate duty exposure. Below is the lowdown of present relief from the Trump tariffs and a forecast of further relief to come.
Itâs a well-known fact in the often-tumultuous world of international trade that what happens between the two largest economies, the U.S. and China, has a ripple affect around the globe.
Two bodies of export regulations typically come to mind when we think of export controls: the Export Administration Regulations (EAR) of the Commerce Departmentâs Bureau of Industry and Security (BIS), and the International Traffic in Arms Regulations (ITAR) of the State Departmentâs Directorate of Defense Trade Controls (DDTC).
Trade-based money laundering (TBML) is quickly developing into a global tsunami. U.S. Customs and Border Protection (CBP) is looking to Importers for help in identifying risk in this critical area, and for CTPAT participants, it is the newest dimension of the Minimum-Security Criteria (MSC) rolled out in 2020.
Generally, Mexican taxpayers are required to issue a CFDI for their acts, duties, income, or tax retentions. The so called CFDI is an acronym for Comprobante Fiscal Digital por Internet , and some refer to it as the electronic invoice.
In a Federal Register Notice on Oct. 6, 2021, U.S. Customs and Border Protection published a 60-Day Notice and request for comments for a Global Business Identifier (GBI) Evaluative Proof of Concept (EPoC).
The year is 2022, and companies are turning over a new leaf, making a concerted effort to become compliant with U.S. Customs laws and practices. Seemingly, there are no downsides to conducting a comprehensive Customs compliance review and submitting a Prior Disclosure under 19 U.S.C. § 1592(c)(4) and 19 C.F.R. § 162.74.
There are new tariff classifications for machinery under Chapter 84 of the Harmonized Tariff Schedule of the United States (âHTSUSâ). The changes to Chapter 84, as well as many other areas of the HTSUS, took effect on January 27, 2022, pursuant to Presidential Proclamation 10326 (December 23, 2021). Many of the changes to Chapter 84 were made to keep up with technological innovations and commercial use.
Many factors have contributed to reshaping and redefining Vietnamâs growing dynamic economy, which had once been coined by the United States as an underdeveloped country but is aggressively emerging to a developing country status.
Imagine your company imports from a vendor in Vietnam and sells them at a competitive margin in the U.S. Business is so-so until the Department of Commerce conducts an Antidumping or Countervailing Duty (âAD/CVDâ) review that encompasses your company or its foreign vendor and determines the origin of your goods to be China, which causes you to owe backlogged AD/CVD at rates over 100% ad valorem for the past year.
The costly Trump-Era tariffs and trade policies have largely remained in effect nearly a year into the Biden Administration. Now more than ever, importers are looking for ways to avoid or mitigate duty exposure. Below is the lowdown of present relief from the Trump tariffs and a forecast of further relief to come.
Itâs a well-known fact in the often-tumultuous world of international trade that what happens between the two largest economies, the U.S. and China, has a ripple affect around the globe.
Two bodies of export regulations typically come to mind when we think of export controls: the Export Administration Regulations (EAR) of the Commerce Departmentâs Bureau of Industry and Security (BIS), and the International Traffic in Arms Regulations (ITAR) of the State Departmentâs Directorate of Defense Trade Controls (DDTC).
Trade-based money laundering (TBML) is quickly developing into a global tsunami. U.S. Customs and Border Protection (CBP) is looking to Importers for help in identifying risk in this critical area, and for CTPAT participants, it is the newest dimension of the Minimum-Security Criteria (MSC) rolled out in 2020.
Generally, Mexican taxpayers are required to issue a CFDI for their acts, duties, income, or tax retentions. The so called CFDI is an acronym for Comprobante Fiscal Digital por Internet , and some refer to it as the electronic invoice.
In a Federal Register Notice on Oct. 6, 2021, U.S. Customs and Border Protection published a 60-Day Notice and request for comments for a Global Business Identifier (GBI) Evaluative Proof of Concept (EPoC).
