Tax & Accounting Blog

What Is the Impact of the U.S. Withdrawal from the TPP on Indonesia?

What Is the Impact of the U.S. Withdrawal from the TPP on Indonesia?

It was not a surprise to most countries when President Trump withdrew from the Trans Pacific Partnership (TPP) Agreement. His withdrawal was a signal that he intended to follow his approach with ‘Americans First”, by protecting American workers from competition from low-wage countries such as Vietnam and Malaysia. Indonesia had not officially joined the regional … Read More

HS Classification: Customs Compliance Issues Affecting Companies in Vietnam

HS Classification: Customs Compliance Issues Affecting Companies in Vietnam

Vietnam has adopted and maintained the World Customs Organization (WCO) Harmonized Commodity Description and Coding System since March 1998.  Subsequently, additional laws and changing regulations have been added leading to additional challenges for Vietnamese companies and the Multi-National Corporations moving operations to Vietnam. In Vietnam, all export and import shipments are required to have a … Read More

Opportunities and Challenges of Chinese MNCs’ Going Global

Opportunities and Challenges of Chinese MNCs’ Going Global

Understanding the different compliance requirements across multiple regions can be very challenging. Global regulations are not only complex but can change daily. Because of the increased expectation that companies pivot and adjust to these changes, Chinese Multi-National Corporations (MNC) have implemented behaviors to help them deal with these diverse complexities, specifically ensuring their subsidiaries can … Read More

What is the difference between a U.S. customs audit and an FTA verification?

What is the difference between a U.S. customs audit and an FTA verification?

What is the difference between a customs audit and a Free Trade Agreement (FTA) verification? An audit, is a broader inquiry that can cover any legal requirement whereas a verification is specific to origin and FTA compliance. Customs audits are generally more broad, focused on a wide range of customs issues and are typically risk-based, … Read More

Eradicating Your Supply Chain of Sanctions and Reputational Risk

Eradicating Your Supply Chain of Sanctions and Reputational Risk

The recent U.S. sanctions case against ZTE Corp. has underscored the importance of a robust sanctions risk management strategy that reaches into every tier of an organization’s supply chain.This investigation, which resulted in record-setting penalties, threatened the reputation of several high-profile technology brands that supply ZTE Corp, including Qualcomm, Microsoft and Intel.ZTE Corp., which includes … Read More