Trade forms the backbone of the world’s economies, spurring investment, job creation, economic growth, and raising standards of living.
We provide a full range of services in the areas of customs, excise duty, green tax and public health product tax. In the course of our cooperation, we examine, among other things, whether your business overpays customs duties, we optimize your customs processes, identify what benefits you are entitled to and can even help to obtain an AEO permit.
In this first edition of the year, we see several of the trade trends that we identified in 2022 —supply chain disruption; a focus on environmental, social and governance (ESG) matters; and ongoing uncertainty around customs valuation — are still high on the agenda, and they are still presenting challenges and opportunities for businesses.
TradeWatch Americas Insights
Under our Americas chapter, focus is on:
- Brazil: New transfer pricing rules and their impact on customs valuation
- Canada releases guidance on Select Luxury Items and proposes new reporting obligations on modern slavery in supply chains in 2024
- Colombia: Government increases customs tariff for apparel and footwear imports, and examines the impact of tax reform on free trade zones
- US: WTO rules against the US in cases involving Section 232 tariffs, China origin-marking
TradeWatch Asia-Pacific Insights
The Asia-Pacific chapter focuses on key issues, with the following articles:
- Japan: 2023 tax reform changes to the customs law
- Japan/Indonesia: Economic Partnership Agreement — introducing electronic certificates of origin
- Indonesia: New customs procedures for importing software and digital goods electronically
- Philippines: Customs audits and the Prior Disclosure Program as well as Strategic trade management update
TradeWatch EMEIA Insights
Under the EMEIA chapter, authors discuss the impact on business of some key court rulings, including:
- EU: European Commission publishes draft legislation for binding valuation information
- EU: Russia sanctions pose challenges for companies
- EU: Updated CBAM regulation published
- Kingdom of Saudi Arabia: Clearance within two hours initiative
- UK: Customs valuation policy shift — Method 1 under threat for multinationals
- UK: Top seven trade trends in 2023
Previous TradeWatch and TradeFlash editions
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