Tax & Accounting Blog

License Exception SCP (Support for the Cuban People) – Where We Are Now?

License Exception SCP (Support for the Cuban People) – Where We Are Now?

From the time President Obama revealed his new foreign policy toward Cuba on December 17, 2014, the Bureau of Industry and Security (BIS), has issued six rules in the Federal Register that have established and increasingly liberalized the export license exception SCP, i.e., section 740.21 of the Export Administration Regulations (EAR).  While the most … Read More

China New Customs Inspection Changes

China New Customs Inspection Changes

Blog, Global Trade, ONESOURCE December 29, 2016

On 19 June 2016, the China State Council released the Decision of Revising Customs Inspection Rules of the People’s Republic of China (State Council Announcement [2016] No.670), which took effect on 1 October 2016. Because the last version of Customs Inspection Rules was released in 1997, the State Council spent two years trying to understand … Read More

Indonesia to prioritize Free Trade Agreement with European Union (EU)

Indonesia to prioritize Free Trade Agreement with European Union (EU)

The cooperation between participating countries within the Indonesia-European Union (EU) Comprehensive Economic Partnership Agreement (CEPA) was designed to enhance the economic cooperation between Indonesia and the countries that are members of the EU. It is of recent that the Indonesian government is realizing just how important the impact of the free trade agreement with the … Read More

Global Trade Trends: Regional Variances in Trade Operations

Global Trade Trends: Regional Variances in Trade Operations

Companies can exert little control over the macro conditions that impact trade, but they can use today’s low-growth trade environment as an opportunity to review and optimize their processes. Through the first nine months of 2016, net U.S. trade fell $470 billion, according to the Census Department. Although GDP growth might not be as robust … Read More