Authored by: Vijendra Kargudri Storm within the Auto Industry A source close to the auto industry warns there could be hike in cost as an outcome of the US’s interpretation of the USMCA. David Adams, President of the Global Automakers of Canada said, “the US has interpreted provisions on how regional value content (RVC) for … Continue reading “Storm brewing up in Auto Industry over the USMCA Rules”
Authored by: Shilpa Manvikar & Vijendra Kargudri Implications of Intrastat Reporting As discussed in the Part-1 of this blog, each member nation of the European community – EU28 is required to report the actual movement of goods to the customs authorities. The system that collects information and generates statistics on the dispatches and receipts constitutes INTRASTAT, … Continue reading “Part-2: Intrastat Reporting simplified with SAP GTS”
Authored by: Vijendra Kargudri & Shilpa Manvikar The emergence of the Healthcare Sector It might be an understatement to say that over the millenniums, every global exploration route was followed closely by new trade opportunities. Over the last couple of centuries, healthcare products and services have been no exception to that concept. Post industrialization … Continue reading “Top 3 ways SAP GTS helps the Healthcare Industry”
Krypt is excited to solicit your presence at the International Compliance Professionals Association (ICPA) – Annual EU Conference on May 15-17, 2019 in London, England. What is in it for you? Over these 3 days Conference at The Tower Hotel, St. Katharine’s Way, London, England, experienced compliance & security specialists will be speaking on ― Import & Export and … Continue reading “Krypt @ ICPA – Annual EU Conference | May 15-17, 2019 | London, England”
With the ever-changing landscape of US trade agreements recently, it’s easy to lose sight of what’s happening in other countries. For multinational organizations with worldwide presence, you can’t afford to stop paying attention to global developments such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). What is CPTPP? One significant development that is … Continue reading “Are you Ready for CPTPP?”
What defines success in import and export compliance? How do you achieve it? First and foremost, you should outline operational compliance policies, procedures, and standards of conduct. Employees and management should know what is expected of them and how to handle unforeseen situations. An effective program clearly defines and enforces those expectations. Maintaining Trade Compliance … Continue reading “Sucessful Import and Export Compliance”
Dual-use items are goods, software, technology, and documents which can be used for both civil and military applications ranging from raw materials to components to complete systems. There are different regional rules and regulations around dual-use goods. Previously, we addressed U.S. export controls of commercial and dual-use goods. We have also discussed export control for transit … Continue reading “EU & UK dual-use controls and export classification”
What Is Duty Drawback? When goods are imported into the United States through U.S. Customs, duties are imposed. A Duty Drawback is a monetary rebate if these goods are subsequently exported. Importers, exporters, and manufacturers could be eligible for duty drawbacks. Five Main Types of Duty Drawback 1. Direct Identification Manufacturing Drawback: U.S. import duty may be … Continue reading “Simplified Duty Drawback and New Regulations”
International trade requires complying with various rules, most of which SAP Global Trade Service can assist with. When importing goods into another country, buyers typically pay duties. Duties are in place to raise money and protect domestic manufacturers from foreign competition. However, two countries may agree to terms wherein they will accept each other’s goods duty … Continue reading “Trade Preference Processing with SAP GTS”
There are a few factors to consider when weighing the pros and cons of Batch Processing. Let’s outline the disadvantages of having a Global Trade Management (GTM) system fed by batch data from the ERP. Key disadvantages of a batch processing model vs real time data integration: Transaction Velocity Business impact of compliance blocks (such … Continue reading “Disadvantages of Batch Processing”
