Trade Publications

2022 Tariff Schedule Will Contain Smartphones, Drones, and More

Posted on November 30, 2021. Category: Logistics Publications, Trade Publications

Starting in 2007 with the rollout of the first iPhone, smartphones have become increasingly integrated into the lives of the global population. A person can use a smartphone to communicate with the people they love, and to troll the people they don’t. They can find love by swiping right, order food from their favorite restaurant, and entertain themselves with games or streaming options. Current estimates place a smartphone in the hands of about 80% of the world’s population, with over 400 billion USD in global sales annually.And now 15 years after these multifunctional, somewhat tricky to classify devices became...

Read More

Saving Duties On Goods Returned

Posted on August 31, 2021. Category: Trade Publications

BackgroundItems are being shipped all over the world every second of every day. That large amount of trade can get costly with tariffs, duty rates, and other shipping costs. With all that spending, there must be some ways to save money on those shipments. Well, if your items are made domestically in the U.S. or were exported from the U.S. in the last 3 years, we advise you take advantage of the duty-free entry claim known as 9801.U.S. Customs and Border Protection recently announced an update to the regulations regarding the Goods Returned program under heading 9801 of...

Read More

At a Glance: Q3 2021 Logistics Bulletin Summary & Outlook

Posted on August 24, 2021. Category: Logistics Publications, Trade Publications

Air Freight InternationalGlobal air volume, measured in CTKs, declined slightly from the record values seen in Q1. However, volume has remained consistent through Q2, especially when seasonally adjusted for the slower mid-year months(1)Capacity in July was up 29% in July over 2020 levels, although load factor declined by 3%. Airlines are likely to reduce capacity somewhat to adjust to shipping demand. Air flight demand has been lowered due to consumer fears amidst COVID delta variant outbreaks. As a result, bellyhold storage capacity is expected to remain low until 2023-2024. Airlines have adjusted by increasing freighter usage, with the freighter market share...

Read More

Typhoon In-Fa hits East China

Posted on August 02, 2021. Category: Logistics Publications, Trade Publications

Recently, East China's Zhejiang Province upgraded its emergency response to Typhoon In-Fa to the highest Level I from July 24, Saturday at noon. Shanghai maintained the second-highest level of warning against typhoon and the third-highest level of warning against rainstorms on Sunday since issuing the alerts on Saturday afternoon.The Typhoon is moving northwestward at a speed of 15 km per hour and bringing heavy rain and storm in the eastern or northeastern coastal areas of Zhejiang and Shanghai.Shanghai Yangshan Port has evacuated hundreds of vessels as the wind force off the coast will continue to strengthen. All large container...

Read More

The Importance of Export Screening

Posted on July 15, 2021. Category: Logistics Publications, Trade Publications

U.S. Exporters must comply with all U.S. export regulations regardless of the volume or value their exports. A major component of U.S. export law is Restricted Party Screening, also known as Denied Party Screening.The U.S Departments of State, Commerce and Treasury as well as other countries have constructed the restricted party lists. The lists identify parties with whom business should not be conducted. Some of examples of the lists are:Denied Persons List Unverified List Entity List Specially Designated Nationals List Debarred List Sectoral Sanctions Identifications (SSI) List Foreign Sanctions Evaders ListScreening is of...

Read More

EU VAT Changes for 2021

Posted on June 24, 2021. Category: Trade Publications

Starting July 1, 2021, the European Union (EU) is changing its Value-Added Tax (VAT) rules. The prevalent changes will mostly impact online business to customer sales. These changes should simplify the import process for items purchased online.The changes are as follows:Low Value Exemptions:Previously, buyers in the EU were exempt from paying VAT on items with a value below €22. Moving forward, VAT will be required on all purchases. Merchants can decide to collect VAT on orders below €150 to simplify the buying and shipping experience for their customers. If merchants choose not to collect VAT on exports to the...

Read More

China Removes VAT Rebate on Certain Steel Exports

Posted on June 21, 2021. Category: Logistics Publications, Trade Publications

China Removes VAT Rebate on Certain Steel ExportsEffective May 1, 2021, a 13% VAT rebate no longer applies to many steel products upon their exportation from China.146 products are impacted by these new regulations, including but not limited to pig iron, seamless and ERW pipes, wired rods, rebar, alloy, and stainless bards and rods, cold-rolled steel, hot-rolled coils, hot rolled steel, as well as structural and flat products.This change in export policy coincides with reductions on import tariffs for such steel items as billets, pig iron, crude steel, and recycled steel raw materials.The Chinese government appears to feel that decreasing...

Read More

Importance of Data Accuracy

Posted on May 24, 2021. Category: Logistics Publications, Trade Publications

Businesses rely on data to make important and costly decisions.  Logistic business decisions rely upon available data.  While much attention is given to the outcome or presentation of these decisions, how much attention is given to the creation of the data used?  Where does the stream of data begin?  Who or what produces the first bits of data everyone else will be using? What controls are put into place at each stage of data input to increase accuracy?            Many of those questions need to be addressed by management or at...

Read More

At a Glance: Q2 2021 Logistics Bulletin Summary & Outlook

Posted on May 17, 2021. Category: Logistics Publications, Trade Publications

AirGlobal air volume, measured in CTKs, reached an all-time high in March. Volume is likely to continue increasing throughout 2021 based on market indicators. (1) Air cargo capacity is slowly returning to the market when compared YoY but is still behind 2019 levels by 12%. The supply of capacity can’t meet the shipping demand and so rates are likely to continue increasing. Rates are projected to increase by an average of 17% globally in Q2, with China-outbound lanes increasing by up to 60%. (2) Airlines are not planning to increase their fleet size for the summer amidst concerns of a 3rd COVID wave and...

Read More

7 Excel Productivity Hacks You Need to Know

Posted on May 17, 2021. Category: Logistics Publications, Tax Publications, Trade Publications

Microsoft Excel is a key software that is especially relied upon by tax professionals who, despite seeing excellent innovations in tax technology in recent years, still rely upon Excel heavily to conduct their duties. This article from Allyn Tax’s business analyst team identifies some helpful tips and tricks you can use when working in Excel.Advanced SelectThis helps you make changes to a particular object in an entire sheet.Consider the below scenario where you would like to highlight the delayed status as red.Go to: Find & SelectClick Find. Type the item that you would...

Read More