CBP issued the following releases on commercial trade and related matters:
CBP issued the following releases on commercial trade and related matters:
CBP plans to make use of the new entry type meant for low-value shipments as part of the next blockchain "use case" involving intellectual property rights licensing, said Vincent Annunziato, director of CBP’s Business Transformation and Innovation Division. "We figured out a way to make it so we're tying in the data that we're getting off the licensing to the entry," he said of the test while speaking on a panel during the stakeholder's forum of the U.S.-Canada Regulatory Cooperation Council on Dec. 5. "And we're using that new type 86 that hasn't come out yet so a lot of the companies will get a chance to experiment." The new type 86 entry is planned as a way to handle de minimis shipments in the Automated Broker Interface, with a pilot program expected during calendar year 2019 (see 1810200002).
CBP issued the following releases on commercial trade and related matters:
CBP is currently considering deregulatory efforts that include revenue modernization, updating the customs regulations to account for e-bond functionality in ACE, free-trade zone modernization and bonded warehouse modernization, it said in a document released ahead of the Commercial Customs Operations Advisory Committee meeting previously scheduled for Dec. 5. Other deregulatory efforts will focus on the liquidation process and updating regulations for ACE functionality, CBP said.
CBP issued the following releases on commercial trade and related matters:
Importers may now claim a lower $1.07 excise tax rate for wines with more than 14 percent, but not more than 16 percent, alcohol by volume, CBP said in a CSMS message. The agency has updated ACE to reflect the new rate, which also applies to some effervescent low alcohol by volume wines and effervescent meads, as set by the Craft Beverage Modernization and Tax Reform Act of 2017 (CBMA). The rate had previously been $1.57 per gallon. Importers claiming the lower rate should not use the CBMA entry summary line level flag available in ACE. That flag only applies to situations wherein the importer is claiming tax credits pursuant to foreign producer assignments (see 1810200001). On the other hand, the flag should be used if the importer is claiming both the $1.07 tax rate and a tax credit.
CBP issued the following release on commercial trade and related matters:
CBP issued the following releases on commercial trade and related matters:
CBP issued the following releases on commercial trade and related matters: