Tax & Accounting Blog

India’s Changing SCOMET Control Landscape

India’s Changing SCOMET Control Landscape

Blog, Global Trade, ONESOURCE September 16, 2016

In India the export of dual-use or strategic items are mainly regulated by the Director General of Foreign Trade (DGFT). Items considered dual-use are prohibited or restricted and require a license for permission to export from India. Dual-use items are classified as Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET).  The SCOMET list covers goods, … Read More

Korea to Colombia FTA

Korea to Colombia FTA

Blog, Global Trade, ONESOURCE September 2, 2016

As of July 15, 2016, the Free Trade Agreement between South Korea and Colombia is now officially in effect. This is Colombia’s first FTA with an Asian country and an important avenue for Colombia to enter the region. South Korea has FTAs with two other South American nations; Peru and Chile. Colombia is a small … Read More

Russia and Turkey Foreign Trade

Russia and Turkey Foreign Trade

Blog, Global Trade August 26, 2016

On the 24th of November in 2015, a Turkish Air Force F-16 warplane shot down a Russian aircraft because of a violation of Turkish airspace. Immediately after the downing of the Russian jet, the Russian government placed some embargos on Turkey and also called its citizens not to visit Turkey, including cancelling any existing trips already … Read More

Free Trade Agreement (FTA) Automation

Free Trade Agreement (FTA) Automation

Blog, Global Trade August 12, 2016

In some companies upper management may not have a complete understanding of the importance of trade compliance leading to a perception of a lack of value tied to what the department does.  With this type of atmosphere, trade compliance personnel may be tasked with justifying the size or even existence of the department.  Even without … Read More