Search Results for: Austria

Unprecedently severe bottlenecks in merchandise trades between Asia and the rest of the world caused by Covid-19 economic disruption is continuing to frustrate apparel retailers in Europe and the US. High levels of demand, port congestion and shortages of containers have been pushing up costs, with shipping rates for the Shanghai-Rotterdam and Shanghai-Los Angeles routes on January 21 being up 296% and 153% year-on-year respectively, according to UK-based maritime consultancy Drewry. …

BRITISH and European Union (EU) confectioners must take care to ensure their products meet new origin rules if they want them covered by the duty free goods provisions of the new EU/UK trade agreement struck on Christmas Eve.

The 1,256-page deal includes complex and comprehensive origin rules, such as for chocolate, which can be deemed made in the EU and Britain if all dairy, eggs and honey used are sourced locally, as well as at least 40% of grains, malt, starches and wheat, (which must also not exceed 30% of costs).…

LUXEMBOURG may be a small country, but it is big in dairy, especially milk – with its other main products cheese, butter, butteroil and cream. Growth in the dairy sector of this Grand Duchy, similar in size to the UK country of Dorset and slightly smaller than the US state of Rhode Island, is continuing – even during the market disruption of the Covid-19 pandemic and Brexit.…

Many of European Union’s 27 member states appear to have been dragging their feet when implementing a key provision of the fifth anti-money laundering directive (5AMLD) (1), setting up a public ultimate beneficial ownership (UBO) register.  The registers should have gone live for the corporate world on January 10, 2020, and two months later on March 10 for trusts.…

THE INTERNATIONAL trade in paint and coatings products and ingredients contains significant variations in prices that some experts warn maybe too good to be true and could indicate that certain trade flows are being exploited by money launderers.

Such criminals seeking to move illicit proceeds from one country to another through artificial pricing – deliberate over- and under- invoicing.…

The European Chief Prosecutor (ECP) of the embryonic European Public Prosecutor’s Office (EPPO) has challenged the 22 European Union (EU) states (1) that have signed up to an enhanced cooperation pact underpinning its existence to properly fund the new institution. Without enough money, the EPPO will not be effective, ECP Laura Codruţa Kövesi told Fraud Intelligence.…

Mavi, the Turkish denim giant, sold 9.7 million pairs of jeans worldwide in 2019, and, its chief executive has told just-style, has rebounded from the shuttering of the garment sector earlier this year with e-commerce sales doubling in its major markets.…

TRADE-based money laundering (TBML) is often hard to spot – that is why criminal networks use this typology. But a careful analysis of detailed trade data can reveal anomalous pricing flagging the possible presence of TBML. This is the key goal of a trade database created by a business professor at the USA’s Florida International University.…

THE UNITED Nations’ Food & Agriculture Organisation (FAO) has proposed creating a permanent ‘observatory’ monitoring cocoa markets, assessing value and costs, to help chocolate sales revenues be more equitably distributed throughout supply chains.

In a report called a ‘Comparative study on the distribution of value in European chocolate chains’, the FAO said such “objectified and cross-checked data” would aid “a multi-stakeholder discussion” at national and global levels on revenue sharing.…

A MAJOR expansion in collecting sales information within the digital economy across the European Union (EU) and beyond has been proposed by the European Commission, to crack down on widescale tax evasion.

The EU executive has proposed reforms to an EU directive on administrative cooperation between tax authorities (see https://ec.europa.eu/taxation_customs/sites/taxation/files/2020_tax_package_dac7_en.pdf)…