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CIRCULAR TRADE is very pleased to invite \” IMC Chamber of Commerce and Industry\” and its members to participate as Foreign Buyers in the International Sourcing Program (INSP) in conjunction
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Circular trade refers to a business model or system where goods are exchanged between multiple parties in a circular pattern, often involving import and export transactions that create a loop without a definitive beginning or end.
Entities or individuals engaged in circular trade activities, especially those involved in import-export transactions, are typically required to file circular trade reports.
To fill out a circular trade report, you need to provide detailed information about the transactions, including parties involved, goods exchanged, values, and dates of the transactions as specified by the relevant regulatory authority.
The purpose of circular trade reporting is to ensure transparency in trade activities, prevent tax evasion, and comply with customs regulations.
Typically, the report must include details such as transaction dates, quantities, descriptions of goods, involved parties, and the financial values of the trades.
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