6165 Barfield Road
Atlanta GA, 30328
Tel: +1 (770)688-1206
Fax: +1 (770)688-1229
The quarterly Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties will increase from the previous quarter. For the calendar quarter beginning April 1, 2022, the interest rates for overpayments will be 3 percent for corporations and 4 percent for non-corporations, and the interest rate for underpayments will be 4 percent for both corporations and non-corporations.
CBP has released the UFLPA Operation Guidance for Importers. This document details the enforcement of the Uyghur Forced Labor Prevention Act and has operational guidance and best practices for importers to comply with the act, which went into effect on June 21, 2022. The guidance has step-by-step instructions on how to submit a request for exception to the rebuttable presumption, which prohibits importation of any “goods, wares, articles, and merchandise mined, produced, or manufactured wholly or in part in any foreign country by convict labor or/and forced labor or/and indentured labor under penal sanctions.” The guidance also includes an extensive list of resources for importers to use when doing their due diligence and maintaining the security of their supply chain, which CBP recommends all importers do as this act takes effect.
Independence Day is July 4th and many Americans spent this long weekend celebrating with a BANG! Fireworks have become an integral part of celebrating major holidays in America. Here are some fun facts about fireworks:
Happy 4th of July! Please make sure to be safe when using fireworks!
On August 1st and 2nd, 2022, the NCBFAA National Educational Institute will host the annual Global Trade Educational Conference (G-TEC) in Chicago. The conference is open to all importers and exporters, and will have sessions on many different topics featuring subject matter experts and prominent leaders in the industry. Topics include CTPAT, Binding rulings, export sanctions, trade remedies, forced labor prevention, tips on managing remote work, and many more. This event is a great opportunity for importers and exporters to learn more about compliance and improve the effectiveness of their due diligence. and provide due diligence. NCBFAA members that register will have access to member pricing and earn 14 CCS/CES credits. This event is also a great opportunity to network with others in the global trade industry.