The US Schedule B is the official schedule of commodity classifications to be used by shippers in reporting export shipments from the United States. It is used to compile official statistics on exports of merchandise from the United States.
A major US customs fraud operation has been uncovered in California. Three firms imported at least $100 million worth of foreign goods, bypassing more than $10 million in customs duties.
U.S. Attorney for the Southern District of California Laura E. Duffy said in a release the defendants are accused of evading millions of dollars in import taxes when they brought Chinese-made apparel, Indian-produced cigarettes and other goods into the country through the Long Beach Port-of-Entry.
SAP Content Update for European Union
EU update is approved – all 14 languages, Reclassification included.
We’re hearing a lot of chatter about changing VAT rates around the globe. Here are a few items that we’ve been talking about behind the scenes.
Reports are emerging from Italy that the planned 2% VAT increase in October may be reduced to a 1% VAT rise - taking the standard Italian VAT rate to 22%
The recent presidential election in France resulted in the election of François Hollande, the candidate of the Socialist Party. One effects of this change is that the French VAT rise (originally planned in october) has been cancelled.
CUSTOMS Info and Global Data Mining (CiGDM) focus on Item Compliance™. This is much different than Global Trade Management.
Item Compliance™ Management focuses specifically on creating and maintaining up‐to‐date information accurately describing every product from a customs perspective, programmed to deliver compliant item data, to the right systems, anywhere in the world, at just the right time.
International trade is presently a 5 trillion dollar industry experiencing an automation revolution comparable to the revolution of the 1970s and 1980s that automated corporate financial functions using Enterprise Resource Planning (ERP) systems. The six most common reasons cited for the ERP revolution are: (1) need for a common platform (2) process improvement (3) data visibility (4) reduced operating cost (5) increased customer responsiveness, and (6) improved strategic decision making. Companies implementing trade management automation may expect similar results.
- Country of Export
Thousands of customs compliance professionals use CUSTOMS Info every day, but few of them know how to get the most out of its most powerful tool: Ci Search™. This week we will be doing a three part series that will take you through the steps to become a Ci Search™ power user. We will go from the most basic search skills to the advanced skills that will help you become a Ci Search™ Ninja.
Tariff classification under the Harmonized System often appears difficult and complex. At times, I have heard people complain that the tariff schedule is full of inconsistent rules and traps intended to make it hard for companies to comply. I don't actually agree with that sentiment.
This week we have been doing a three part series on how to prepare for the Customs Broker License Examination.