Monday Compliance News - Around the World

GCSG's Monday Compliance News is a compilation of some of the previous weeks interesting trade compliance, anti-bribery/corruption, fraud, and due diligence news bites, from around the world.

US declares North Korea a terror sponsor; new sanctions expected |  MSN

"President Donald Trump announced Monday the U.S. is putting North Korea’s “murderous regime” on America’s terrorism blacklist, despite questions about Pyongyang’s support for international attacks beyond the assassination of its leader’s half brother in February." (Click here for the article) - US, N. Korea, Iran, Sudan, Syria

China cuts import tariffs on almost 200 consumer goods |  BBC News

"China is cutting import tariffs on 187 consumer goods from whisky to cashmere clothing to help spur spending and economic growth. The Finance Ministry said tariffs will drop from an average 17.3% to 7.7% on products, including pharmaceuticals, food, health supplements and clothing. The cut will take effect from the beginning of December. The move is designed to encourage consumers to spend more at home rather than on trips overseas." (Click here for the article) - China, US

Export invoice vs. accounting invoice:  What's the difference? |  Shipping Solutions

"An export invoice is an umbrella term that encompasses exporting forms like the Commercial Invoice and the Proforma Invoice—forms that indicate the buyer and seller of the goods, a description of the items, the items’ value, and the terms or proposed terms of the sale. Many governments use export invoices for calculating and assessing customs duties and taxes. Though they are often confused with one another, export invoices and accounting invoices are not the same." (Click here for the article) - Global

Factors affecting the USA, UK, Germanic and Japanese corporate governance models |  White Collar Investigator

"Corporate governance is the framework of laws, regulations and rules that govern/control the interactions and relationships between the owners, the board or the boards, managers and other parties that collectively are a part of a or any decision making process. Corporate governance came into existence to ensure that all parties can work for long-term benefits of the shareholders in a fair and ethical manner without damaging any elements of a corporation’s social responsibility." (Click here for the article) - US, UK, Germany, Japan