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June 30, 2021
2021-1291

Trade Watch | Issue 2 2021

The latest edition of Trade Watch is attached below. Trade Watch is a regular communication from EY Global Trade that outlines key legislative and administrative developments for customs and trade around the world. Highlights of this edition include:

Global

— Using customs warehouses for e-commerce fulfilment — a comparison of valuation approaches
— Technical Committee on Customs Valuation approves two new advisory opinions
— How the life sciences value chain will be impacted by trade and VAT
— Indirect Tax in Motion: How a structured approach can help businesses control trade activities
— Global Trade Managed Services
— EY Global Customs Talks
— Our Global Trade webcasts

Americas

— Brazil: Single-window customs system, unique importation declaration and product catalogue
— Latin America: Nearshoring opportunities in Panama and Costa Rica
— Mexico: Labor implications of the United States-Mexico- Canada Agreement
— US: Court of International Trade decision questions first sale principle applicability to Chinese and Vietnamese origin goods

Asia-Pacific and Japan

— China: Ministry of Commerce provides guidance on export controls by exporters of dual- use items
— China: Customs update — April 2021
— Japan: A step to realizing carbon neutrality — carbon border adjustment mechanism under consideration
— Oceania: Duty drawback for importers and exporters in Australia and New Zealand

Europe, Middle East, India and Africa

— Africa: Implementation of the African Continental Free Trade Area Agreement
— European Court of Justice: Court rules on transport costs and customs value under DAF delivery terms
— EU: Impact of new e-commerce VAT rules on customs
— EU: Trade Policy Review — aiming at open strategic autonomy
— Gabon: Certificate of conformity for imports and exports
— Germany: Customs tariff classification of sports footwear from Vietnam
— Germany: Preparing for customs audits
— Norway: E-commerce VAT rules for low-value imports

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Trade Watch | Issue 2 2021

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

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