Since January 1st, 2024, the Swiss economic landscape has undergone a significant evolution with the abolition of customs duties on industrial products, a measure promising to streamline trade processes and boost competitiveness.Simultaneously, the complex Swiss customs tariff will be fundamentally revised and simplified.Enacted as part of an amendment to the Customs Tariff Act, these decisions stem from a meticulous analysis of the economic benefits and potential challenges.

For several years, the extra-financial communication modalities of large companies have been increasingly regulated. The latest directive contributing to this regulation in environmental and social areas is the new CSRD directive, and in this article, we cover the key elements to remember.

Since January 2024, the maritime transport sector has been subject to the terms of the EU ETS, resulting in numerous changes in the operation of European maritime freight to reduce emissions and finance the transition to a more sustainable world.

In the spirit of the holiday season, where the magic of Christmas is often tied to the joy of giving, businesses can unwrap a different kind of gift by delving into the world of customs duty savings. Just like Santa carefully plans his route to deliver presents around the world, companies can strategically navigate customs regulations to maximize their return on investment.

The Carbon Border Adjustment Mechanism (CBAM) is an environmental policy instrument designed to support the European Union climate ambitions of achieving a net reduction of greenhouse gas (GHG) emissions of at least 55% by 2030 and of reaching climate neutrality by 2050 at the latest. CBAM is a groundbreaking regulatory instrument implemented by the European Union with global traction to address carbon leakage. 

In today's rapidly evolving global trade landscape, businesses are under increasing pressure to enhance their customs and trade compliance processes. The rising complexities of international regulations, the need for streamlined supply chain operations, and the push for greater efficiency have made it imperative for companies to embrace digital transformation. Global Trade Management (GTM) software has emerged as a key enabler in achieving these objectives. However, securing the necessary funding for your GTM digital transformation can be a challenging task. 

In an era where sustainability and environmental awareness are paramount, organizations worldwide are increasingly recognizing the importance of reducing their carbon footprint. The Supply Chain, representing 11% of CO2 emissions worldwide, holds immense potential for emission reduction and sustainability. Many shippers or freight forwarders have already committed to be carbon neutral by 2040 to 2050. This transformation will create new challenges and opportunities for companies. 

Companies appear to be facing a more complex international trade risk environment but often lack the tools, processes, and resources to manage emerging risks effectively. Despite numerous challenges preventing them from mitigating these customs risks effectively, companies navigate through interdependent crisis, fragmented legacy systems and error-prone manual operations challenging their supply chain resilience and weakening their competitiveness.

In the world of freight transport, the organization of logistics and supply chain management are key elements of success. To optimize these processes, many companies already use a technology, the transport management system or Transport System Management (TMS). Are you still hesitating about the relevance of using a TMS for logistics and your entire supply chain? These few advantages should convince you.

MyTower is sponsoring the online master’s program “Customs, Taxation and International Trade Law” starting in October 2022. 

While the climate emergency and the demand of certain consumers intersect to reduce the carbon footprint, how to be a responsible shipper? For this, the implementation of a Transport Management System (TMS) can effectively reduce the ecological impact of commercial enterprises. Here is how to make the most of this solution to make your offer more virtuous and begin your evolution towards green transport.

Every year, the European Union updates its customs tariffs. Customs traders and freight forwarders use HS (Harmonized System) codes to clear all goods crossing international borders. In the European Union, these codes are defined by the Customs Tariff, also known as the EU Combined Nomenclature.

In 2021, C&A Serbia was the victim of major customs fraud involving 300 imports. As recently as the following September, Toyota was ultimately sentenced by the Supreme Court of Thailand to a very large fine for importing components not subject to a reduced tariff. These two events show that international trade and customs classification are of paramount importance to stay in good standing and work more calmly with foreign countries. Here's how to prevent this from happening to you.

While the climate emergency is forcing companies to review many aspects of their business, what about the Supply Chain? Given the importance of e-commerce in today's economy, it is essential to combine these two issues to achieve a responsible supply chain. The actors that are suppliers, shippers, carriers and partners must all find solutions to reduce their impact without reducing their growth. 

In the sector of trade and transport of goods, whether national or international, logistics and supply chain are two terms that are regularly used. This is mainly due to the rise of e-commerce. However, they are not synonyms. Both have specificities and serve specific but distinct purposes.

In today’s globalized economies and markets, luxury goods are manufactured through very complex global supply chains involving numerous stakeholders ranging from small-scale, highly specialized suppliers closely controlled by large brand owners. For example, raw materials or very specific parts originate from one country and are processed in another before the assembly of the final product takes place in a third country - which the luxury brand owner further distributes to its customers worldwide. 

As a Supply Chain manager, you are the last link in the chain before the end customer and therefore the guarantor of a successful experience. For this, you must put in place systems that contribute to satisfaction and loyalty. If in BtoC customers benefit from very detailed order tracking and a delivery horizon, this is not always the case in BtoB exchanges.

Since the 1st of January 2022, the VAT reverse charge for imports is mandatory and automatic. The VAT reverse charge for imports makes it possible to simultaneously collect and deduct import VAT on your VAT return (monthly or quarterly CA3), without any advance payment.