Tax & Accounting Blog

How FTAs Affect the Pharmaceutical Industry: A Discussion About TRIPS

How FTAs Affect the Pharmaceutical Industry: A Discussion About TRIPS

The purpose of a free trade agreement (FTA) is to increase access to international economies. FTAs reduce barriers associated with importing goods — generally, these agreements reduce import taxes on individual items, which allow goods to be competitive with domestically produced products. Pharmaceuticals, however, are a unique kind of good with regards to trade. According … Read More

Will the Wave of Protectionism Make International Trade Great Again?

Will the Wave of Protectionism Make International Trade Great Again?

Unquestionably, international trade flows have exploded throughout the century.  Countries have been using the global transaction of goods as a main source to obtain foreign exchange. A main objective for countries is to maintain a favorable trade balance. To achieve this objective, most countries take the position to export as much as possible and import … Read More

The WCO 2017 Tariff Classification Changes and the Effects upon Thailand Adoption

The WCO 2017 Tariff Classification Changes and the Effects upon Thailand Adoption

WCO 2017 Version of the Harmonized System Every 5 years the World Customs Organization has the duty under the 1983 HS Convention Article 16 to provide an update amendment, guideline and recommendation of an “Internationally Standardized and Recognized System of Names and Numbers”.  The “Harmonized Commodity Description and Coding System”, abbreviated as “HS”, … Read More

How Technology Can Help AEO Succeed

How Technology Can Help AEO Succeed

According to the WCO (World Trade Organization) the AEO (Authorized Economic Operator) concept provides economic operators[1], who meet the conditions and criteria, with benefits in the form of facilitation of customs controls in terms of safety and security, and with simplifications on customs law and rulings.  The aim is to facilitate the foreign … Read More