China’s State Administration of Taxation (SAT) issued guidance (Bulletin 42) that extends VAT-exempt treatment to all international freight forwarding services. The new rules went into effect on September 1, 2014.
News / Regulatory Updates
U.S. Customs and Border Protection (CBP) recently published the eligibility requirements and the security criteria for exporters to participate in the Customs-Trade Partnership Against Terrorism (C-TPAT).
The CBSA manages trade compliance with the Tariff Classification, Valuation, and Origin programs using the following two post-release verification processes: (1.) Random verifications and, (2.) Verification priorities.
The new version of the HS includes 234 sets of amendments. Environmental and social issues are a major feature of these amendments, due to the importance of the HS as a global tool for collecting trade statistics and monitoring trade.
US Customs and Border Protection (CBP) announced a plan to unify the Customs-Trade Partnership Against Terrorism (“C-TPAT”) and Importer Self-Assessment (“ISA”) programs under a new test program called the “Trusted Trader Program.”