While I was in college, there were a few great gifts. Snow days and deadlines extended by my professors. For those that are involved with Drawback and Reconciliation entries, it’s time to get giddy.
Get a start on the New Year by gaining an understanding of the upcoming changes.
In our continuing efforts to prepare the trade community for the significant changes Customs Border and Protection (CBP) is enacting for Reconciliation entries, we offer this blog with updated information.
Topics: Reconciliation, North America
The CBSA Audit Priorities were recently released for the second half of 2016. This gets called many things “Trade Verification Priorities” or the “CBSA Audit Target List” or just “2016 Audit Priorities”. Whatever name this gets really doesn’t matter, it’s a most wanted list.
Yep, the Marshal has put out the targets they’re gunnin’ for; and if yer importin’ them into Canada yer a most wanted importer.
Ok! You can lose the John Wayne or Yosemite Sam voice now.
Topics: North America, HS Classification
On January 16 2016, the United States announced that they are l
ifting certain US sanctions against Iran that are consistent with the announcement of Implementation Day and in compliance with the Joint Comprehensive Plan of Action (JCPOA). The United States Department of Treasury, Office of Foreign Assets Control (OFAC) released a general guidance document regarding the lifting of US sanctions under the JCPOA.
Topics: Asia, Export Consulting, Import Consulting, North America
Regulations, rules, requirements – the life of an international trader bumps up against them all the time. It is our job to make sure that our organizations understand them, follow them, and stay out of trouble.
As soon as you have exhaustively explained how EVERYTHING that is imported into the U.S. must be marked with its country of origin, or how you can NEVER export anything to Cuba, or why you ALWAYS pay duty when you import something that some know-it-all brings up – the EXCEPTION.
Topics: North America
The “encouragements” that Adam Smith refers to are none other than Duty Drawback. In the United States, drawback has been a fixed part of trade policy since 1789 when the Founding Fathers understood that a thriving domestic economy required robust international trade.
By allowing exporters of products to draw back duty imposed upon its initial importation, it puts those exporters on an equal footing with their overseas competitors.
Simply put, better-priced products sell, well, better.
Topics: Duty Drawback, Export Consulting, North America
