European Commission launches anti-dumping probe on Chinese steel track shoe imports
The European Commission is set to launch an anti-dumping investigation into steel track shoe imports from China. The Notice of initiation of an anti-dumping proceeding concerning imports of steel track shoes originating in the People's Republic of
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UAE: Dubai Customs releases voluntary disclosure policy
Dubai Customs has announced Customs Policy No. (58/2024) regarding the Voluntary Disclosure System (VDS). This initiative is aimed to encourage importers and exporters operating in Dubai to amend past errors in their customs declarations. The
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Brazil withdraws plan to tax low-cost online orders
Brazil’s Senate has withdrawn the proposal from a bill to tax small online purchases on Tuesday, 4 June, 2024. Senators were set to vote on a bill that would introduce a 20% import tax on international online purchases under USD 50, which the
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Brazil: Congress moves to implement tax on inexpensive online orders
Brazil's lower house of Congress approved a bill that introduces 20% import tax on international online purchases under USD 50 on Tuesday, 28 May, 2024. The bill must be voted in the Senate before it can come into effect. This new import tax
See MorePlatform for Collaboration on Tax: Study of Carbon Pricing Metrics
On 8 September 2023 the Platform for Collaboration on Tax (PCT) issued a report on carbon pricing metrics. The PCT was set up for collaboration between the IMF, OECD, UN and the World Bank and supports countries in strengthening their tax systems by
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OECD: Revenue Statistics in Asia and the Pacific 2023
On 25 July 2023 the OECD issued Revenue Statistics in Asia and the Pacific 2023, setting out revenue data for the region from 2021. The latest edition of the annual publication includes data on tax revenues for 30 jurisdictions in the region and
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Uzbekistan: Tax Changes for 2023
It was reported on 5 January 2023 that the 2023 budget allocations have kept the basic tax rate of profit tax at 15%. The personal income tax rate remains 12%, and the property tax rate continues at 1.5%. The levels of tax collection and government
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Oman: Implementation of Digital Tagging of Excisable Goods
The Oman Tax Authority has announced new timelines for the phased implementation of its Digital Tax Stamps project – an initiative designed to help regulate the import, trade and sale of excisable products, as well as to optimise the collection of
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WTO: Latest Issue of World Tariff Profiles
On 29 July 2022 the World Trade Organization (WTO) issued the latest edition of its annual publication World Tariff Profiles. The publication sets out global tariff and non-tariff information on more than 170 countries and is issued in
See MoreWTO: Director General Outlines Initiatives for Responsible and Sustainable Trade
On 28 January 2022 the Director General of the World Trade Organisation (WTO) gave a keynote speech at a conference on more responsible and sustainable trade, held in France which currently has the presidency of the European Union. The speech
See MoreIMF Report on India’s Economy
An IMF country focus on 12 November 2021 indicates that India’s economy is preparing to rebound following the setbacks inflicted by the second wave of Covid-19 infections. India’s substantial policy responses to the pandemic, with economic
See MoreKenya: National Budget for FY 2020/21
On 11 June 2020, the Cabinet Secretary for the National Treasury and Planning, Mr. Ukur Yatani Kanacho delivered the 2020/21 Budget to the National Assembly. The summary of proposed tax measures are following: Income Tax Measures Raised
See MoreBangladesh: National Budget for FY 2020-21
On 11 June 2020, Mr. AHM Mustafa Kamal, the Finance Minister of Bangladesh has presented the national budget of Tk. 568,000 crore with an ambitious target of 8.2 percent GDP growth for the FY 2020-21 in Parliament. The revenue collection
See MoreQatar exempts Customs duty on specific food and medical equipment
The General Authority of Customs (GAC) of Qatar has issued a directive exempting 905 items related to food and medical equipment from customs duties for a period of 6 months due to COVID-19 pandemic, effective from 23 March
See MoreQatar extends tax return filing due date amid COVID-19 outbreak
On 12 March 2020, The General Tax Authority (GTA) of Qatar has issued Circular No.5 of March 2020 in response to the COVID-19 pandemic, providing a two-month extension of the due date for filing income tax returns from 30 April until 30 June 2020
See MoreBrazil: Senate approves Decree amid COVID-19 pandemic
On 20 March 2020, the Senate approved a presidential decree declaring a national emergency over the coronavirus epidemic. According to that Decree, the federal taxes payments for companies under the Small Companies Tax Regime (Simples Nacional) are
See MoreBrazil: RFB clarifies Transfer pricing rules on import of products
On 30 august 2018, the Department of Federal Revenue of Brazil (RFB) published a ‘Private Ruling 95/2018’ in the Official Gazette which clarifies the calculation of price parameter on import of steel product for resale. Under this Private Ruling
See MoreIndia cuts the tariff on sugar exports to zero percent
On 21 March 2018, the government issued an official order stating that the government has abolished tariffs on exporting sugar from the current 20 percent to zero percent. The duty cut has been made to boost overseas sales, the release said. “In
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