Insights

The Virginia Research and Development Exemption

December 16, 2016.
Tax Publications

Many companies take advantage of the Virginia Sales and Use Tax Research and Development Exemption. The exemption is applicable to tangible personal property purchased for use or consumption directly and solely in research and development. Some examples of exempt products are chemicals, equipment, machinery, supplies, fuel and...

Purchasing of the Long Beach Terminal of Hanjin

December 15, 2016.
Logistics Publications

South Korea’s SM Group, is currently researching the purchase of a 54% stake in the Long Beach Terminal of Hanjin, through its subsidiary Korean shipping (KLC) alongside Hyundai Merchant Marine (HMM). Both KLC and HMM will purchase half of the stake, but as they are suffering financial pressure, neither...

2017 Pennsylvania Tax Amnesty Program

December 15, 2016.
Tax Publications

The Pennsylvania Department of Revenue has announced a Tax Amnesty Program that will be offered from April 21 to June 19, 2017. This program assures participants that half of any applicable interest and all penalties will be waived. This program offers the opportunity for taxpayers to resolve tax related liability or...

Sales Tax Changes in 2017

December 15, 2016.
Tax Publications

There are numerous tax changes on the horizon with implications affecting many taxpayers. The following summary briefly outlines a few of the most significant changes. Tennessee has enacted new economic nexus regulations. Affected out of state sellers with no physical presence are required to register with the state...

Slowdown for Brazil Customs

December 12, 2016.
Logistics Publications, Trade Publications

Brazilian Customs Inspectors have set out to slow down the Brazilian customs processes as a result of their frustration with the government’s changes to an existing law. Changes to bill 5864 would impact Brazilian wages and have caused the Inspectors to start to “red light” most cargo...

Carnets: A passport for your merchandise

December 12, 2016.
Trade Publications

Carnets allow for the temporary export of goods into a foreign Customs territory for more than 80 countries globally. In addition to allowing goods to be temporarily imported into foreign countries, the carnet holder can transport goods duty and tax free inside a carnet inclusive territory for up to a year. ...

A New Ocean Container - The Breakbulk Box

December 05, 2016.
Logistics Publications

The first shipping container was invented and patented by Malcolm McLean in 1956. Now 60 years later, ATS International, which is part of Anderson Trucking Services, has designed, tested and transported a new container, the Breakbulk Box. The walls and roof of the new design lift off in a single piece which...

Recordkeeping Compliance Essentials

November 09, 2016.
Trade Publications

In regards to trade compliance, the bottom line objective for importers is to avoid customs audit and customs penalties while growing a business and increasing revenue. While HTS classification, export compliance and valuation may be at the top of the internal audit list, one area that importers may not revisit...

Country of Origin and Originating Goods

November 03, 2016.
Trade Publications

US importers are required to report certain information on commercial documents for all US Customs entries as required per 19 CFR 141.86. These fields will be utilized to compliantly file a Customs entry with US Customs and Border Protection. Most commonly these fields are value, classification, weight, buyer, seller, and country of...

5 Ways to Make Conflict Mineral Reporting Easier

November 02, 2016.
Trade Publications

In 2013, the Dodd Frank Wall Street Reform and Consumer Protection Act came into effect, with Section 1502 requiring all publicly traded companies to report their conflict mineral status on their annual reports and to disclose their due diligence via a Conflict Mineral Report (https://www.sec.gov/spotlight/dodd-frank/speccorpdisclosure.shtml)....

When Carriers Collapse

October 24, 2016.
Logistics Publications

The Hanjin Shipping bankruptcy certainly caused a stir in the shipping world. Containers filled with billions of dollars of cargo are stranded, and the shippers this cargo belongs to can’t do anything about it. Shippers, truckers, terminals, fuel providers, and chassis companies are all affected by...

National Asbestos Awareness Month

October 20, 2016.
Logistics Publications

In November, Australians will be turning their attention toward the topic of a healthier country and community through National Asbestos Awareness Month. The Asbestos Safety and Eradication Agency will be holding its 3rd International Conference, gathering together top experts in asbestos management and best practices. In 2003, The...