Trade, taxes and de minimis
Countries are lowering their VAT thresholds on imported goods or instituting goods and services taxes for low-value e-commerce goods coming in from other countries. Many countries are also tightening security requirements, which means shippers and logistics providers need to provide a precise description of goods, HS codes and other advance data. Any shortcomings in data could mean a delay in getting e-commerce goods through customs and into customers’ hands. The session will look at some of these changes around the world and how they affect cross-border shippers, including efforts in the United States to increase data requirements on imports and lower the de minimis threshold.