CBP has announced how it will calculate penalty amounts from the Importer Security Filing (aka 10+2).
For the importers, a late filing can result in a $5,000 penalty for liquidated damages for each inaccurate ISF. Inaccurate filings, inaccurate updates, and the failure to withdraw an ISF can also result in $5,000 claim for liquidated damages.
For the [...]
From the BBC, Members of Parliament are arguing that HM Revenue and Customs and the UK Border Agency are faltering in their diligence to monitor imports into the United Kingdom.
Although comparisons were difficult, MPs suggested the amount of goods physically searched at UK borders compared “unfavourably” to the rest of Europe – with 2-3% of [...]
Via the Environmental News Service, a near-global effort in governments across Europe, Asia-Pacific, and Africa has resulted in 57 successful seizures, amounting to 30,000 tons of illegal hazardous waste.
Over the course of 50 days “Operation Demeter” identified high-risk shipments and shared information across customs agencies and ports to target illicit cross-border shipments of hazardous waste. [...]
Although not frequently updated, How to Save Customs Duty Revealed has some good resources on importing and exporting in the UK.
Recently the author covered what kinds of customs risks companies encounter in international transactions:
Customs Valuation contradictions
Method of Valuation: Quantifying adjustments
Related Party Transactions
Royalties, R&D Costs, Interest Charges, Design & Development Work
Customs implications of R&D cost-sharing agreements [...]
As brought to attention by the International Economic Law and Policy Blog, the 2009 WTO report states that dumping is good in most cases:
In most circumstances, the welfare of the importing country increases as a result of dumping, as consumers and users of the product benefit from lower import prices, even though the reason for [...]
Air Shunt Instruments Co, a San Fernando, CA aerospace company, has agreed to settle for $100,000 after being charged with illegal sales to the United Arab Emirates and Thailand. The company has already paid or agreed to pay much of this amount.
The State Department issued a statement Wednesday saying Air Shunt Instruments Inc. signed a [...]
Frederic Bourke, namesake of handbag company Dooney & Bourke, was found guilty today by a US jury of violating the US Foreign Corrupt Practices Act (commonly called FCPA).
Jurors found Bourke conspired with Czech expatriate Viktor Kozeny to bribe to Azerbaijan leaders including former President Heidar Aliyev to spur the sale of the state-owned oil company.
Bourke [...]
The US Consumer Product Safety Commission has a good educational video about importers and exporters responsibilities when consumer products enter the US.
Under the Consumer Product Safety Act, the term “manufacturer” is defined to include any person who imports a consumer product. Importers are directly responsible for the safety of products they bring into the United [...]
BIS will be presenting a webinar next week covering the Special Comprehensive License. This will be very useful for exporters who must repeatedly apply for individual export licenses and want to simplify this process by using one comprehensive license.
Webinar: The Special Comprehensive License (SCL) presented by the Bureau of Industry and Security
Date: July 16, 2009
Time: [...]
According to the Toaster Project, yes, one man is capable of global sourcing raw materials to create his very own handmade toaster. But it’s not easy!
Thomas Thwaites is an artist currently working on sourcing and creating all the components to build his very own toaster – retail price approximately $8. This includes copper for the [...]
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