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May 31, 2022
2022-1352

EY TradeWatch | Issue 1, 2022

EY's TradeWatch, Issue 1, 2022 outlines key legislative and administrative developments for customs and trade featuring insights and tax alerts from our network of Global Trade professionals trade around the world. It comes in an interactive and easy to share format, with links to articles on ey.com and other EY resources.

As the sense of urgency around climate change grows, businesses are facing rapidly changing policies, shifting stakeholder expectations and evolving business priorities. In this edition of TradeWatch, we include a special section, highlighting some key sustainability topics and issues impacting the trade function as well as insights from the following jurisdictions:

Global

  • Update on sanctions in response to war in Ukraine
  • Top seven trends in international trade in 2022
  • Taking trade from good to great
  • Insights from ey.com
  • Our Global trade webcasts and podcasts

Americas

  • Brazil and Mercosur: New edition of the Harmonized System from 1 April 2022
  • Brazil: The return of the additional 1% of COFINS on imports
  • Canada: Related-party customs valuation and use of OECD transfer pricing methodologies
  • Colombia: Court ruling on the cost on insurance in customs valuations
  • US: Chemical superfund excise taxes reinstated
  • US: Court clarifies scope of duty-free imports of tools of trade
  • US: Possession requirement for substitution drawback

Asia-Pacific

  • Recent global trade developments in Mainland China
  • Japan: Annual report on post-entry customs

Europe, Middle East, India and Africa (EMEIA)

  • Belgium and Germany: Issues for e-commerce sellers to consider for imported goods
  • EU: Commission proposes instrument against economic coercion
  • EU: Special focus on valuation aspects under the transitional PEM rules of origin
  • EU: Trade Policy: from policymaking to effective enforcement
  • UK: Trade negotiations in 2022

Sustainability

  • At the frontiers of sustainable trade - three priorities for customs agencies to accelerate the ESG revolution
  • CBAM and its impact on EU cross-border imports
  • EU: Proposal to introduce a deforestation regulation
  • EU: Is decarbonization a threat for European ports
  • EY's Green Tax Tracker

Why TradeWatch?

In today's global economy, moving goods internationally can be a complex and costly activity. TradeWatch provides timely information about customs and international trade developments to help you develop strategies to manage duty costs and the risks of global trade, to improve trade compliance and to increase the operational effectiveness of international supply chains.

Access the latest issue in the form of an interactive PDF, or please find the file attached below.

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TradeWatch | Issue 1, 2022

 

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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