On September 19, IBA client and SBA Region Five Exporter of the Year, Southwest Steel Coil (SSC), held an open house for the public to view their latest expansion in Santa Teresa. More »
On August 19, the IBA assisted in coordinating a roundtable discussion with U.S. Congressman Steve Pearce in Santa Teresa. Homebuilders and developers from the Santa Teresa/Sunland Park region were invited to participate More »
On July 25th, the IBA helped coordinate a visit by Governor Susana Martinez and New Mexico Economic Development Department Secretary Jon Barela to Santa Teresa. These officials were in town to announce More »
Governor Susana Martinez Celebrates Opening of Expanded Santa Teresa Port of Entry and Welcomes 15 New Jobs to Border Region
Governor Susana Martinez joined Chihuahua Governor César Duarte and other government officials on May 24th at a ribbon cutting ceremony to officially open the expanded Santa Teresa Port of Entry. More »
By Jerry Pacheco
Burger King buys Canada’s largest fast food chain, Tim Hortons, and a wave of new controversy is unleashed in terms of how to perceive and deal with U.S. companies that move their headquarters to foreign countries in order to avoid U.S. corporate taxes. It is common for U.S. companies to conduct mergers with foreign counterparts. However, it seems to be a current trend for them to seek foreign tax shelters in reaction to what are perceived to be high U.S. corporate taxes.
It is not unusual that Burger King merged with Tim Hortons. By doing so, the new company will account for more than $23 billion in worldwide sales and more than 18,000 locations in approximately 100 countries. It will become the third largest fast-food chain in the world. By establishing the headquarters in Toronto, the new merger is following a popular strategy called tax inversion, which simply means that a company (in this case Burger King) relocates its headquarters to a country with lower taxes, while still maintaining the bulk of its operations in its home country.
One of the best partners the IBA has when assisting clients is the U.S. Department of Commerce (USDOC), of which the International Trade Administration is a branch. The ITA focuses on the competitiveness of American industry, job creation and the promotion of exports. Trade Specialist Robert Queen manages the USDOC’s U.S. Export Assistance Center (USEAC) in El Paso, which covers west Texas and all of New Mexico.
The USEAC assists clients with various services in foreign markets, including making contacts, providing support during foreign visits, and market identification. The IBA works closely with the USEAC to provide clients with market information and foreign contacts.
Please see this month’s article to find an interview I did with Undersecretary Stefan Selig, who was newly appointed as the head of the ITA.
September 22, 2014
WASHINGTON— U.S. Customs and Border Protection (CBP), the agency responsible for securing U.S. ports of entry and international borders will accept applications for CBP officer positions at air, land and sea ports of entry on the Southwest border and other select locations.
“CBP officers play a vital role identifying and intercepting threats, while efficiently processing the lawful trade and travel that are critical to our nation’s economic growth,” said CBP Commissioner R. Gil Kerlikowske. “In addition to demonstrating dedication and motivation, CBP officers are held to the highest standards of personal and professional integrity.”