UK: Talks on Free Trade Agreement with the Gulf Cooperation Council
On 22 August 2022, UK and Gulf Cooperation Council (GCC) negotiating teams met for the first round of negotiations on a free trade agreement. The talks are expected to continue for around two weeks and cover all areas of the FTA focusing on the main
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UK: Negotiations for Free Trade Agreement with India
Following the conclusion of a fifth round of talks between India and the UK on a free trade agreement (FTA), a factsheet was issued by the UK’s Department of International Trade on 19 August 2022. The fifth round of negotiations involved
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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
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UK: Small Business Attitudes to the Single Trade Window
On 21 July 2022 the UK government published research on the attitude of small business to the proposed single trade window (STW). The UK government is developing a single trade window to streamline the interaction of traders with border agencies.
See MoreUK: Consultation on Single Trade Window
On 21 July 2022 the UK government published a consultation document inviting comments on the design of a single trade window (STW) that would be an important part of the UK’s border strategy. The UK government is aiming to revise its customs
See MoreUK: Summary of Responses to Consultation on Customs Improvements
On 25 July 2022 the UK published a summary of responses to the call for evidence on improvements to the UK customs regime. Comments were invited earlier in 2022 on how the customs system is functioning, especially in relation to the customs
See MoreWTO: International Trade Cooperation to Strengthen Preparation for Future Pandemics
On 3 June 2022 the World Bank and the WTO launched a document entitled: Trade Therapy: Deepening Cooperation to Strengthen Pandemic Defenses. The publication notes that trade has an important role to play in the response to health crises such as
See MoreWTO: Trade Policy Review of New Zealand
On 1 and 3 June 2022 the WTO is carrying out a trade policy review of New Zealand. A report has been issued by the WTO Secretariat as a basis for the review. The report notes that New Zealand considers trade as very important for its prosperity.
See MoreWTO: Trade Review of UAE
From 22 to 24 March 2022 the World Trade Organisation (WTO) conducted a review of the trade policies and practices of the United Arab Emirates (UAE). As a basis for the review, a report was prepared by the WTO Secretariat. The UAE’s economy
See MoreWTO: Work Plan for New Trade and Environmental Sustainability Talks
At a meeting on 7 February 2022, World Trade Organisation (WTO) members reviewed a proposed 2022 work plan for the new initiative on trade and environmental sustainability. The draft work plan includes the proposed work areas for the formal
See MoreOECD: Taxation of Development Projects
On 11 February 2022 a blog by the Director of the OECD Centre for Policy Administration and the Director of the OECD Development Cooperation Directorate looked at the taxation of projects financed by foreign aid. Developing countries have
See MoreOECD: Tax Treatment of Overseas Development Assistance
On 20 January 2022 the OECD announced the launch of a digital hub to bring increased transparency to the taxation of development aid. The Tax Treatment of Official Development Assistance Hub sets out the approaches taken by participating donor
See MoreUkraine: STS clarifies the controlled transactions criteria for TP purposes
Recently, the State Tax Service (STS) has clarified the criteria for classifying transactions between related parties (Ukrainian residents and non-residents) as controlled for transfer pricing (TP) purposes. Under Ukrainian transfer pricing
See MoreUNCTAD report on illicit financial flows
The UNCTAD publication Economic Development in Africa Report 2020: Tackling Illicit Financial Flows for Sustainable Development in Africa was published in July 2021. The UNCTAD report argues that tackling illicit financial flows is an important
See MoreUN: Tax treatment of government-to-government projects
On 28 April 2021 the UN Committee of Experts on International Cooperation in Tax Matters released the UN Guidelines on the Tax Treatment of Government-to-Government Aid Projects. Developing countries frequently grant tax exemptions in relation
See MoreUK: SME Brexit Support Fund open for applications
From 15 March 2021 a Brexit Support Fund for small and medium enterprises (SMEs) is accepting applications for grants of up to GDP 2,000 to assist with adaptation to new customs and tax rules that now apply when trading with the European Union
See MoreMongolia: Parliament approves State Budget Law for 2021
The State Budget Bill for the fiscal year of 2021 was adopted at the State Great Khural’s plenary session of 13 November 2020 along with its appropriation bills. On 25 November 2020, the President of Mongolia, Battulga, refused 2021 State Budget
See MoreArgentina: Government publishes Budget Law for 2021
On 14 December 2020, the Government Officially published Law 27591 of 14 December 2020, including budget measures for 2021 to Congress amid continuing pandemic and political uncertainties. The measures are given below: The VAT and customs duties
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