Global Authorities Crack Down on Crossborder Tax Evasion

Global Authorities Crack Down on Crossborder Tax Evasion

This paper emphasizes the importance of customs-tax cooperation, analyzing intelligence sharing and joint enforcement mechanisms. The aim is to enhance fiscal revenue, safeguard the trade environment, and promote economic development. Effective collaboration between customs and tax authorities is crucial for combating illicit financial flows, preventing tax evasion, and ensuring fair trade practices. This collaborative approach strengthens border security, improves risk management, and ultimately contributes to a more stable and prosperous economy. The paper highlights the benefits of a coordinated strategy in addressing complex challenges in international trade and taxation.

WCO Urges Global Collaboration to Bolster Supply Chain Resilience

WCO Urges Global Collaboration to Bolster Supply Chain Resilience

The Secretary General of the World Customs Organization emphasized the importance of strengthening international cooperation to address global crises and rebuild supply chain resilience at the 7th Annual Meeting of International Organizations. He outlined the WCO's measures to ensure the continued flow of goods and maintain supply chain stability. He also highlighted future areas of cooperation, including digitalization, e-commerce, and disaster management, urging participants to transform crises into opportunities for collaboration. The speech underscored the critical role of customs organizations in facilitating trade and promoting global economic security.

WCO Stresses Supply Chain Resilience at ADBI Conference

WCO Stresses Supply Chain Resilience at ADBI Conference

The Secretary General of the World Customs Organization delivered a keynote speech at the Asian Development Bank Institute Annual Conference, emphasizing the importance of resilient global supply chains. He analyzed challenges such as digital transformation, data standardization, disruptive technologies, e-commerce, environmental sustainability, and geopolitical conflicts. He highlighted the crucial role of customs in building resilient supply chains and called for strengthened international cooperation to address global trade challenges and jointly build a new future for global trade. This collaboration is essential for navigating the complexities and ensuring stability in the global trading system.

EU and Taiwan Advocate Ending Preshipment Inspections to Ease Trade

EU and Taiwan Advocate Ending Preshipment Inspections to Ease Trade

The EU and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu submitted a proposal to the WTO advocating for the phased elimination of pre-shipment inspection (PSI) by all members to facilitate trade. The proposal outlines differentiated timelines for members based on their development levels, emphasizing transitional arrangements and technical assistance. Eliminating PSI is expected to reduce trade costs and improve efficiency. However, it also highlights the importance of customs capacity building and risk management to ensure smooth trade flows and prevent potential abuses after PSI removal.

HS Code Errors Pose Trade Risks Experts Warn

HS Code Errors Pose Trade Risks Experts Warn

This article delves into the World Customs Organization's (WCO) recommendations on HS code classification, exploring the challenges and risks faced by businesses. It proposes strategies including accurately understanding HS coding rules, building a professional team, utilizing search tools, communicating with customs, establishing a database, and monitoring WCO updates. Through case studies, it emphasizes the complexity and importance of HS code classification, aiming to help companies reduce trade risks, ensure compliance, and gain a competitive edge. The article provides practical guidance for navigating the intricacies of HS codes in international trade.

WTO WCO Assess Techs Role in Ecommerce Trade Shift

WTO WCO Assess Techs Role in Ecommerce Trade Shift

The World Customs Organization (WCO) and the World Trade Organization (WTO) co-organized a seminar at the Public Forum, exploring the role of disruptive technologies and e-commerce in post-pandemic trade recovery. The conference highlighted data-driven Customs development, WTO's policy guidance, Zambia's practical experience, and the private sector's perspective. It aimed to inject new vitality into the future development of global trade. The discussions emphasized leveraging data and technology to streamline processes, improve efficiency, and foster a more resilient and inclusive global trading system in the evolving digital landscape.

Latin American Tax Officials Gain Skills in Advanced Training Program

Latin American Tax Officials Gain Skills in Advanced Training Program

The IMF, the Spanish Institute for Fiscal Studies, and the WCO jointly delivered a high-level course on tax and customs administration in Latin America. The course aimed to enhance the management capabilities of senior tax and customs officials in the region to address challenges. The upcoming fifth edition will focus on modern management skills and improving voluntary compliance. The Global Trade Facilitation Programme provides crucial support to the region, fostering economic development. This initiative is vital for strengthening governance and promoting sustainable growth within the Latin American context.

WCO Stresses Supply Chain Resilience at ADBI Conference

WCO Stresses Supply Chain Resilience at ADBI Conference

World Customs Organization (WCO) Secretary General Kunio Mikuriya delivered a keynote speech at the Asian Development Bank Institute Annual Conference, highlighting the multiple challenges facing global supply chains, including digitalization, data standardization, technological changes, e-commerce development, environmental issues, and border conflicts. He called for strengthened international cooperation to enhance the role of customs in supply chain resilience, jointly address these challenges, and promote the stability and sustainable development of global trade. This collaborative effort is crucial for navigating the complexities and ensuring a robust global trading system.