US Leaders Work toward Supply Chain Innovation
The Federal Maritime Commission’s (FMC) Supply Chain Innovation Team Initiative, led by Commissioner Rebecca F. Dye, was launched today at FMC headquarters in Washington, D.C. Over the next two-days, industry leaders from 34 companies will be working in teams with the goal of developing process innovations to improve the reliability, resilience and competitiveness of America’s global supply chain. “The innovation team approach focuses on obstacles to the smooth flow of cargo in our $980 billion annual export and import containerized trade,” Dye said.
FMC Commissioner Doyle Announces China VAT Issue Webcast
New explanation issued from China on definition of “agents” in Circular 106. Industry briefing scheduled for March 6, 2014 concerning the latest information on China’s Value Added Tax regime and its impact on the maritime industry. Commissioner William P. Doyle of the Federal Maritime Commission (FMC) today announced that he will be participating in a webcast that will take place on March 6, 2014, on matters related to China's Value Added Tax (VAT) regime, with specific emphasis on China's release of Circular 106, as it affects carriers, shippers and ocean transportation intermediaries. Professionals from the global audit and tax firm, KPMG, will host the webcast. Commissioner Doyle stated, "I appreciate KPMG's willingness to provide a briefing on China's VAT program to FMC’s stakeholders.
Commissioner Doyle: China Clarifies VAT
Last week Commissioner William P. Doyle of the Federal Maritime Commission (FMC) briefed the full Commission with a report on his work seeking clarity and certainty on the People’s Republic of China’s (PRC’s) implementation of the Value Added Tax (VAT) as it relates to maritime commerce. Doyle informed the Commission that the Chinese government was expected to clarify its position on the VAT that has confused the shipper and carrier communities. On December 13, 2013, the PRC released Circular 106, which supersedes Circular 37 effective January 1, 2014.
Summit of World's Leading Maritime Regulators a Success
Yesterday, regulators from the U.S. Federal Maritime Commission, the People's Republic of China's Ministry of Transport and the European Commission's Antitrust Unit met at FMC headquarters in Washington, DC. The regulators conducted discussions that included the roles and responsibilities of each nation. FMC Chairman Mario Cordero stated, "I called for this Global Regulatory Summit given the rapidly changing face of the international maritime sector demands. . . The scope and…
