Tax & Accounting Blog

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

Norway and U.S. Sign Competent Authority Agreement to Exchange Country-by-Country Reports
Brazil Releases Guidance on Country-by-Country Reporting Obligations

Brazil Releases Guidance on Country-by-Country Reporting Obligations

On May 15, 2017, Brazil released guidance on country-by-country (CbC) reporting. On December 29, 2016, Brazil published Normative Instruction No. 1681, requiring CbC reporting for fiscal years that begin on or after January 1, 2016, in compliance with BEPS Action 13. Multinational groups with total consolidated revenue in the preceding … 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