Trade Publications

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...

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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...

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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...

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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...

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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...

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Egyptian Authorities: Claims for the Changci Reduced to US$ 600 million

Posted on May 11, 2021. Category: Logistics Publications, Trade Publications

According to the report from Shipping Network on May 10, the Suez Canal Authority proposed that the authority would cut its owner’s claim by one-third for the container ship Ever Given that blocked the Suez Canal for nearly a week. The 400-meter-long ship is owned by Shoei Kisen Kaisha Ltd. and was stuck in the canal for six days during the lease by Taiwan’s Evergreen Line. Osama Rabie, chairman of the Suez Canal Authority, told MBC Masr that the Egyptian side reduced its claims by one-third for the container ship owner who blocked the Suez Canal in...

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Does Working at Home Work For You?

Posted on May 05, 2021. Category: Logistics Publications, Tax Publications, Trade Publications

It has been just over one year of working remotely due to the Covid-19 pandemic and while some find themselves wondering how they ever functioned outside the comfort of their homes, others are itching to be back in the office. While you may feel a certain way about your work from home situation, here are a few things to consider:ProsNo Commute: Eliminating the transportation to and from the office saves employees time, money and reduces stress as well. according to the U.S. Census Bureau's 2019 American Community Survey, the average American’s commute is 26.9 minutes. Quiet...

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The RFQ Story

Posted on April 29, 2021. Category: Logistics Publications, Trade Publications

RFQ…. Many of you are familiar with the acronym RFQ. A request for quote (RFQ) is a process in which a company selects certain suppliers and contractors to submit price quotes and bids for the chance to fulfill specific tasks or projects, like the movement of freight. However, some of you may not know how our Logistics Team uses a very automated Support Central process to accomplish this.There are typically six steps in an RFQ: prepare RFQ, define Supplier list, send out RFQ’s, receive responses, analyze results, select the winner and notify...

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Normas Oficial Mexicana (NOM): What, When & Why?

Posted on April 26, 2021. Category: Trade Publications

What is NOM Certification? The Norma Oficial Mexicana (NOM) certification is a set of technical regulations and standards required by the Mexican government that spans many different industries. As a product enters Mexico it is assigned a “fraccion arancelaria” (Tariff / HTS Code), based on which a NOM will apply or not to the product. Further, the product must meet requirements outlined by the NOM before entering. All NOM requirements are defined, issued, and published in the country’s Diario Oficial by issuing government agencies and ministerial bodies. Labeling requirements are the most common and often see the...

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Myanmar Sanctions

Posted on April 14, 2021. Category: Trade Publications

In 1990, significant sanctions were put in place by the U.S. government against Myanmar, also called Burma, in response to the actions of Myanmar’s ruling military junta, the State Peace and Development Council (SPDC). For decades, the military dictatorship ruled Myanmar and committed acts considered sufficiently egregious to warrant the imposition of sanctions. Most sanctions put in place in 1990 were lifted in 2016 by Presidential Executive Order 13742, after Myanmar pursued democratic...

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