Customs Audits Increasing but Companies Can Take Steps to Mitigate Impact (From Sandler Travis)
CBP recently reported that fiscal year 2018 saw increases in both the number of audits completed (from 418 to 435) and total revenue collected as a result of importer audits (from $41.3 million to $42.2 million). The total number of trade penalties issued rose as well, from 931 to 1,385. When you see a Customs document that mentions “audit”, “penalty”, or “seizure”, you should call us immediately! For more info, please go to
https://www.strtrade.com/news-publications-customs-audit-focused-assessment-CBP-053019.html?mkt_tok=eyJpIjoiTVRrMlpHTTVaalkwTkdSaiIsInQiOiI1MHJxcHAxR3NJV09vUWRDMnZheFwvYTBwQ3J3WVUrZlpkZmI5Y3Znd0tDbFlBQlwvT0RBNHlaVXprTkw2WWdiYnplUVwvTWhTRkY3cGJSMUpxZ3Zkam5xOE9Dc1RnU3FOVkRQRThidVl3QUNcL1B5TERncm9xZW9KYXc5T3pzeXBuemoifQ%3D%3D#utm_source=tradereport&utm_medium=email
Trump removes India from GSP (Previously reported, from American Shipper)
President Donald Trump on May 31, issued a proclamation to terminate India’s status as a beneficiary of the Generalized System of Preferences (GSP). India’s revocation from GSP was effective June 5. For more info, please go to
https://www.americanshipper.com/magazine/daily/?year=2019&month=6&day=3&page_number=5&via=asdaily
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