TNETS Customs and Trade Compliance News


Deal Could Cut $1 Trillion on High Technology Product Tariffs

Deal Could Cut $1 Trillion on High Technology Product Tariffs High Technology Product Tariffs Trade negotiators tentatively agreed on Saturday to eliminate high technology product tariffs valued at $1 trillion worth of global commerce. The breakthrough toward the World Trade Organization’s Information Technology Agreement took place at an ambassadors’ meeting at the European Union embassy in Geneva. “Very optimistic that we’ll have a final successful deal by the end...

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Company Director Sentenced for Customs Offences

A company director was sentenced by the State Courts on 9 July 2015 to a fine of $434,000 for customs offences. Tok Beng Tong, 42, a Singaporean, pleaded guilty to 58 customs offences including submitting false statements and declarations in applications for back-to-back certificates of origin (CO), and import and export permits. Another 119 charges were taken into consideration in the sentencing. Investigations revealed that Tok, who is the...

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How To Choose A Customs Broker For Your Business

Considering the range of trade agreements many countries now have in place, and the constant tightening of customs regulations, there has never been a better time to work with a certified, experienced and licensed customs broker. A customs broker handles the declaration of your shipments through international customs by ensuring that appropriate customs permits are obtained for goods entering, leaving or being transshipped through a particular jurisdiction. It’s often...

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TNETS Announced as Gold Sponsor for SSIA Supply Chain Management Forum 2015

Singapore May 15, 2015 – Tradenet Services Pte Ltd (TNETS), the market leading customs and trade compliance software and services business is pleased to announce its Gold Sponsorship of the Singapore Semiconductor Industry Association’s SSIA Supply Chain Management Forum 2015. The SSIA Supply Chain Management Forum 2015 brings together a large group of semiconductor manufacturers operating in Singapore as well as a range of vendors, including equipment suppliers, testing services and...

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Shippers need to step up to the plate on AED Compliance

Singapore Customs introduced Advance Export Declaration (AED) on April 1st 2013, with full enforcement from October 1st 2014, and the ramifications continue to be felt. The 18 month transition period was intended to give shippers and forwarders time to reconfigure processes, adopt new systems, and align with supply chain partners. Not all businesses took advantage of this concession. Some shippers accepted the challenge and hit the ground running on...

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AED Reports Now A Breeze With TNETS TradeMind

Advanced Global Trade Reporting capabilities with TNETS TradeMind TNETS’ customers now enjoy enhanced freight and customs reporting and analysis capabilities, including the all-important AED Reports to monitor  Advance Export Declaration compliance. Why leave it it chance when you can get real-time AED reports from your TNETS TradeMind Dashboard. These reports show you at a glance which of your forwarders are complying with the AED rules being enforced by Singapore...

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Logisym 2015 – TNETS Drives Global Trade Discussion

Logisym 2015 audience listening intently TNETS was honoured to participate in Logisym 2015, held last week at NUS, and organised by the Logistics and Supply Chain Management Society (LSCM). Logisym, now in its second year, brings together a diverse range of logistics practitioners, from 3PLs, shippers, and other service providers, through to academics and government institutions. Aside from participating as cornerstone exhibitor, TNETS was also represented on the speakers’...

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EU Dual-Use Control List Comprehensively Updated

In its efforts to raise trade compliance levels for all importers and exporters, TNETS urges all importers of dual-use items from the EU to take note of the following update. 1. Updated controls on dual-use goods, software and technology are expected to come into force on 31 December 2014. 2. The European Commission has updated the EU control list of Dual-Use Items (Annex I to Council Regulation (EC) No...

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Industry Outreach on US Export Controls

TNETS participates in joint effort to improve compliance with US and Japan Export Controls.   TNETS recently had the privilege of participating in the Joint Industry Outreach Seminar on Strategic Trade Management which focused primarily on US and Japan export controls, organised by Singapore Customs together with the U.S. Bureau of Industry and Security (BIS), the U.S. Export Control and Related Border Security Program (EXBS), the Embassy of the...

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Benefits of the Declaring Agent Governance Framework

Quote from TNETS Director Neil Johnson in Singapore Customs IN-SYNC Customs Newsletter on the introduction of improvements to the Declaring Agent Governance Framework Commenting on the new framework, Johnson said, “There is now a common standard of knowledge and proficiency to which all service providers must adhere. This sets an industry benchmark ensuring that declarants have the necessary skills to perform their functions and levels the playing field. We...

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