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Managing Excise Accounts on eFiling
Industry Trends and Analysis

Managing Excise Accounts on eFiling

Understanding Excise Tax Excise tax is a type of indirect tax levied on the manufacture or sale of specific goods. In South Africa, excise tax is applicable to a wide range of products, including alcohol, tobacco, fuel, and certain other goods. For businesses dealing with these products, accurate and

October Monthly Container Import Volumes Remain Above 2.4M TEUs, Straining U.S. Maritime Logistics
Industry Trends and Analysis

October Monthly Container Import Volumes Remain Above 2.4M TEUs, Straining U.S. Maritime Logistics

For four consecutive months, U.S. container imports have surpassed 2.4 million twenty-foot equivalent units (TEU)—a threshold that has historically strained U.S. maritime logistics. In October 2024, U.S. container imports totaled 2,494,635 TEUs, a slight 1% decline from September’s 2,520,935 TEUs and just 2.4% lower than this year’s high of

Lacey Act Compliance: A Guide for Importers
Industry Trends and Analysis

Lacey Act Compliance: A Guide for Importers

It’s essential to stay on top of changing regulations to ensure you’re meeting your compliance obligations. This December, significant updates to the Lacey Act will broaden its scope, affecting a wider range of products, including many with plant-based, wood or paper materials. Originally enacted to combat illegal logging and

What is Trade Surplus? Meaning, Formula, Pros & Cons – Official Blog of iiiEM
Industry Trends and Analysis

What is Trade Surplus? Meaning, Formula, Pros & Cons – Official Blog of iiiEM

A trade surplus signifies a favorable trade balance, where a nation’s exports exceed its imports. This condition is determined by a simple computation: Trade Surplus = Total Value of Exports − Total Value of Imports When the result is positive, indicating that a nation exports more than it imports,

EXIM Offers Trade Finance Tools to Support Disability Employment Awareness Month
Industry Trends and Analysis

EXIM Offers Trade Finance Tools to Support Disability Employment Awareness Month

In October, the nation marks National Disability Employment Awareness Month, which provides an opportunity to celebrate the value and talent employees with disabilities add to America’s workplaces and economy. This year’s theme of “Access to Good Jobs for All” underscores the commitment to ensuring disabled workers have access to

Export Product And Import Products HS Code Section Wise
Industry Trends and Analysis

Export Product And Import Products HS Code Section Wise

NoHSN CodeTop Products Value 101, 02, 03, 04, 05Live Animals, Edible Meat, Fish And Crustaceans, Dairy Produce2,408 Cr206, 07, 08, 09, 10, 11, 12, 13, 14Live Trees And Other Plants, Edible Vegetables, Edible Fruit And Nuts, Coffee, Tea, Oil Seeds And Oleaginous Fruits 72,037 Cr315Animal, Vegetable Or Microbial Fats And Oils And

“New” Best Practice Guidance to Address Diversion Risk
Industry Trends and Analysis

“New” Best Practice Guidance to Address Diversion Risk

By Kristine Kelleher This past July, the Bureau of Industry and Security (BIS) recently issued guidance on addressing both export controls and diversion risks. (Diversion risk refers to the potential for items, technology, or services to be redirected or transferred to unauthorized end-users or end-uses, which can violate export control

What Buyers Need to Know
Industry Trends and Analysis

What Buyers Need to Know

Client Question: We buy CIF because the Seller’s insurance is cheaper. Is it that simple? What else should we consider? Answer: In a C-prefixed transaction, the Seller sells the Buyer documents evidencing the handover or dispatch of cargo. A C-prefix contract is never to the Buyer’s advantage unless the

Biden Administration Commits 0 Million to Strengthen U.S. Port Infrastructure
Industry Trends and Analysis

Biden Administration Commits $580 Million to Strengthen U.S. Port Infrastructure

The U.S. Department of Transportation’s Maritime Administration (MARAD) has announced a nearly $580 million investment to enhance port infrastructure across the United States. Funded by the Bipartisan Infrastructure Law, this initiative will support 31 improvement projects spanning 15 states and one U.S. territory, aimed at boosting efficiency and capacity

Who Is the Intermediate Consignee?
Industry Trends and Analysis

Who Is the Intermediate Consignee?

International shipments often involve more than just the exporter and the importer. A key player in this process is the Intermediate Consignee—a third party that facilitates the smooth transit of goods across borders. Although sometimes overlooked, their role is essential for ensuring compliance with international regulations, filing correctly through