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October 14, 2022
2022-1552

EY TradeWatch | Issue 2, 2022

EY's TradeWatch, Issue 2, 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. 

This issue looks at a wide range of trade topics and developments around the world including supply chain resilience, the impact on business of some key US and EU court rulings on business, the outcome of the WTO’s 12th Ministerial Conference, as well the gender disparity gap in trade.

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

Global

  • How can businesses navigate government supply chain resilience initiatives?
  • Navigating the gender disparity gap in trade – if not now, when?
  • What the WTO’s 12th Ministerial Conference outcomes mean for business
  • G7 Trade Ministers’ key statement on global trade issues
  • Insights from ey.com
  • Our Global trade webcasts and podcasts

Americas

  • US: Developments in export controls and sanctions
  • US: Ready-to-drink alcoholic beverages – new classification enable substitution drawback

Asia-Pacific

  • China: Pilot program for collaborative management of transfer pricing and customs values in Shenzen

Europe, Middle East, India and Africa (EMEIA)

  • EU: CJEU rules on the liability of indirect customs representative for import VAT
  • EU: CJEU rules on use of statistical data for determination of customs value
  • EU: New version of Compendium on Customs Valuation released
  • Germany: Hamamatsu – the journey nears its end
  • Norway: Common errors when importing and exporting goods
  • Switzerland: Elimination of import customs duties on industrial goods enters into force on 1 January 2024
  • United Arab Emirates: Key trade agreement plans for 2022

Sustainability

  • EU: Final legislation on CBAM expected soon
  • EU: New plastic packaging measures offer businesses an opportunity to innovate
  • Italy: New plastic tax applies from 1 January 2023
  • UK: What carbon leakage mitigation measures mean for business.
  • 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 2022 | Issue 2

 

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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