News / Regulatory Updates
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.
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.”