US: Re-establishes Duty-Free Aid Commitment To Africa
The Government of the USA has reviewed Madagascar’s eligibility for African Growth and Opportunity Act (AGOA) tariff benefits, effective immediately, but has withdrawn Swaziland's eligibility, with effect from January 1, 2015. President Obama has
See MoreDuty-Free export of petroleum products and gas from Russia
The President of Russia has signed into law a cooperation agreement with Armenia that approves duty-free export of petroleum products, natural gas and uncut diamonds from Russia. Last month, Russia has customized its duty-free oil arrangement with
See MoreVenezuela: Customs system changes regarding foreign exchange rates
Venezuela’s tax and customs administration (SENIAT) has declared changes to both versions of its automated customs system (Sistema Aduanero Automatizado or SIDUNEA) naming S++ and SW under foreign exchange agreements that is used to determine the
See MoreKenya: Presented Budget for 2014-2015
Kenya announced its budget for the year of 2014-15 on 12 June 2014. The budget has emphasized on several tax proposals: Propose tax rates for resident companies at 30% (previously it was 10%) and for non-resident companies at 37.5% (previously it
See MoreIndonesia: Copper Miners Hit Back At Export Tax
From the beginning of 2014 the Indonesian government is charging an export tax on mineral concentrates. The aim is to raise the amount of domestic value added and increase domestic economic activity associated with the mineral sector. The government
See MoreEU and China sign mutual recognition agreement
A mutual recognition agreement signed by the EU and China is to simplify procedures and lower costs for many traders. The two sides agree to recognize their certified safe traders and to permit them to benefit from speedier controls and reduced
See MoreLuxembourg Lowers Shipping Registration Levy
Luxembourg has issued a draft regulation that would reduce shipping registration duties. The duties are computed by reference to a vessel’s tonnage, determined when the ship is first registered in Luxembourg. Although Luxembourg is a landlocked
See MoreUS: Talks to Expand Duty-Free IT Agreement Deadlocked
Talks in the World Trade Organization (WTO) on broadening the scope of the Information Technology Agreement continue to be deadlocked after eleven days of negotiations. The product coverage of the existing agreement has not been updated since 1996,
See MoreLithuania: Increase in excise duty on alcohol
Lithuania's Prime Minister has confirmed that the only tax change currently planned is a change to excise duty on alcohol, which will be phased in over three years. The proposal was recently supported by the ruling coalition's Political Council, to
See MoreCanada: New tax on digital imports
Canada is considering a sales tax on E-commerce supplies made by foreign businesses to residents of Canada. At present people that import digital services should self-assess GST unless the services are used at least 90% for business purposes.
See MoreBulgaria: Intrastat reporting threshold changed in 2014
Bulgaria has changed its 2014 Intrastat reporting thresholds with effect from 1 January 2014. The current arrivals (imports from other EU member states) threshold of BGN 240,000 has been increased to BGN 360,000; while current despatches (exports to
See MoreUK: Increase in 2014 intrastat reporting thresholds
The United Kingdom has updated the annual reporting thresholds for Intrastat declarations from 1 January 2014. For arrivals (import of goods from other EU member states) the threshold will rise from GBP600,000 to GBP1,200,000 per annum; and for
See MoreRussia-Amendments in Import, Export Procedures
The termination of agreement between Russia and the national guaranteeing association for TIR operations has ensured by Russia’s customs service on December 1, 2013. The TIR carnet, customs transit document, exhibits the presence of an
See MoreVietnam: Rubber export tariffs possible to be cut
Vietnam’s Ministry of Finance issued a Circular on 13 November 2013 it was reported that, reducing export tax rates on both natural and synthetic rubber exports exports from December 26, 2013. With this Circular, the export tariff on all rubber
See MoreArgentina-Introduces surcharge on foreign currency
The Argentine Federal Tax Authorities (AFIP) issued General Resolution No. 3550/2013 which has become effective on 3 December 2013. The general resolution increases the scope of the reverse withholding surcharge which will be applicable to certain
See MoreBrazil: Daimler to Build New Factory
It has been published that, German auto-maker Daimler AG said early in October that it plans to set up a new Mercedes-Benz assembly plant in Brazil on 7 October 2013. One of the aims of this move is to reduce the impact of Brazil’s country’s
See MoreJapan: Changes in customs Valuation regulations
The customs valuation regulation has been changed in Japan. The valuation is based on the transaction value in line with World Trade Organization (WTO) rules but the change in the regulations clarifies the issue of which particular transaction is to
See MoreEgypt: Customs Tariffs on Luxury Goods
Egypt has issued a presidential decree raising customs tariffs on imports of luxury goods. Under the decree a 40% tariff will be applied to imports of goods including sunglasses, watches, video games, shrimps, fireworks and boats. Two new customs
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