US: Department of Commerce finalizes sugar trade compromise with Mexico
The U.S. Department of Commerce has finalized an agreement on the suspension of anti-dumping and countervailing duties on Mexican exports of sugar. The agreement, which reworked a 2014 pact, averts steep duties on U.S. imports of sugar from Mexico,
See MoreEU and Japan reach agreement in principle on trade deal
An agreement in principle has been reached on a free trade deal between the European Union (EU) and Japan. The deal includes sizable tariff cuts, co-operation on standards and regulations and opening up of public procurement markets. The EU and
See MoreUS: Government confirms duty-free access for some goods from Nepal
The US government has confirmed that 66 Nepali goods now eligible for duty-free entry into United Nations through Trade Preferences Act (TPA). The confirmation was made during the third joint council meeting of the Trade and Investment Framework
See MoreUS: President launches investigation into steel dumping
Donald Trump has initiated a wide-ranging antidumping duty (AD) and countervailing duty (CVD) investigation into countries that export steel to the US. The investigation is aimed at stopping countries from flooding the U.S. with artificially cheap
See MoreVietnam: Imposes anti-dumping tax on steel imported from China
On March 30 2017, the Ministry of Industry and Trade officially decided to levy anti-dumping duties on imported coated steel from mainland China including Hong Kong and the Republic of Korea. Therefore, Bazhou Sanqiang Metal Products will be taxed
See MoreIndia: Payments to Belgian entities not taxable as fees for technical services
Recently, the Ahmedabad Bench of the Income-tax Appellate Tribunal in the case of: ITO v. Cadila Health Care Ltd 78, decided that the payments made to Belgian entities are not taxable as “Fees for Technical Services (FTS)” in view of Most
See MoreKazakhstan: Decree No. 56 amends to specific customs levies
The Governmental Decree No. 56 of 13th February 2017 amends provisions on the specific customs levies that apply in addition to customs duties. For the first customs declaration, specific customs duties of KZT 25,000 apply and then KZT 11,000 for
See MoreCanada: Trump Import Tariffs impact
The US President gave warning of raised import tariffs on Mexican exports to the United States. He also made an indication that Canadian exports could be subject to the same tax treatment. He said that he would impose 35% import tariff from
See MoreChina: Adjustments to tariff items
On 19 December 2016, the Customs Tariff Commission of the State Council issued the adjustments to the tariffs in 2017. The new plan comes into force on 1 January 2017. According to the plan, the number of items to be taxed in 2017 will reach 8,547.
See MoreWTO publishes latest issue of World Tariff Profiles
On 2 November 2016 the World Trade Organization (WTO) issued the latest expanded edition of its annual publication World Tariff Profiles. This publication provides tariff and non-tariff information on more than 170 economies worldwide and is issued
See MoreWTO: Landlocked developing countries and world trade
The fifth meeting of ministers of landlocked developing countries (LLDCs) was held on 23 June 2016. Trade is a driver of inclusive growth and is key to achieving the Sustainable Development Goals. However the LLDCs face very high trade costs that
See MoreUK: Customs Information Paper on Exit from the EU
HMRC has issued Customs Information Paper 42 (2016) in relation to the referendum vote to leave the European Union (EU). The paper clarifies that there will be no immediate change to the movement of goods in or out of the UK. Until Article 50
See MoreVanuatu: Abuse of duty free system
The Customs and Inland Revenue Department (DCIR) has published a statement on 26th May 2016 on its website announcing that there has been a number of abuses involving cruise ship passengers who purchase duty free goods to give in exchange for taxi
See MoreWTO Director General comments on the importance of trade agreements for Colombia
In a speech delivered in Colombia on 19 May 2016 the Director General of the World Trade Organization (WTO) noted that trade can act as a drive of broader economic growth and job creation and is part of any strategy for sustainable economic growth.
See MoreWTO: Trade Policy Review of Malawi
The third Trade Policy Review of Malawi was carried out by the World Trade Organization (WTO) on 27 and 29 April 2016. A report issued by the WTO staff in connection with the review has been published on the WTO website. The report notes that the
See MoreWTO Public Forum 2016 to discuss inclusive trade
The World Trade Organization (WTO) is to hold its Public Forum 2016 in September 2016 with the theme of inclusive trade. The Public Forum will discuss how a broader range of businesses and individuals can become involved in the world trading system
See MoreIMF Technical Note Considers WTO Tax Rules
A technical note published by the IMF on 29 March 2016 considers to what extent the World Trade Organization (WTO) rules affect the freedom of policy makers to frame their tax policy. The paper entitled Is the WTO a World Tax Organization? A Primer
See MoreUK: Customs Vision for 2020
On 22 January 2016 HM Revenue and Customs issued the Customs Vision for 2020 setting out the aspirations of UK Customs in the next five years. These include the aim to facilitate legitimate trade, protect society and grow the economy. UK Customs
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