IMF: Global Imbalances and the COVID-19 Crisis
On 4 August 2020 the IMF released the 2020 External Sector Report on global imbalances and the COVID-19 crisis. Trade Forecasts The COVID-19 crisis has led to a decline in global trade, a decrease in commodity prices and more challenging
See MoreWTO: Effect of COVID-19 Crisis on Trade Costs
On 12 August 2020 the WTO issued an information note on Trade Costs in the Time of Global Pandemic. The note uses information from the WTO’s forthcoming Global Trade Costs Index and other available indicators to look at the effect on trade costs
See MoreMexico modifies the General Customs Rules for 2020
On 24 July 2020, Mexico has published the first amendment to the General Customs Rules for 2020 in the Official Gazette. The amendments include changes to the Comprehensive Business Certification Scheme, in the VAT, VAT Certification and Authorized
See MoreArgentina: AFIP announces additional suspension regarding inspections, assessments, appeals
On 8 August 2020, the Federal Administration of Public Revenue (AFIP) published General Resolution 4786 of 3 August 2020, which provides an additional postponement in case of inspections, assessments, appeals, reimbursements, other methods related
See MoreWorld Bank: Report on benefits of African Continental Free Trade Area
On 27 July 2020 the World Bank issued a report on the economic and distributional effects of the African Continental Free Trade Area (AfCFTA). The AfCFTA agreement will connect 1.3 billion people across 55 countries with a combined GDP of USD 3.4
See MoreArgentina: AFIP announces suspension regarding tax audit, social security and customs duties
On 20 July 2020, the Federal Administration of Public Revenue (AFIP) published General Resolution 4766 of 20 July 2020, which provides additional postponement of the terms for inspections, assessments, appeals, reimbursements, and other procedures
See MoreEU: Consultation on Limiting the Impact of non-EU subsidies
A consultation on measures to limit the impact of non-EU subsidies was launched with the publication of a White Paper by the European Commission on 17 June 2020. The consultation will run until 23 September 2020 and the EU is looking at the
See MoreOECD: Overview of tax measures to combat the coronavirus pandemic
On 1 April 2020 the OECD published on its website detailed information on measures taken by countries to help businesses and individuals during the coronavirus crisis. Measures to help business case flow These include tax administration
See MoreWTO: Trade Policy Review of European Union
The World Trade Organisation (WTO) issued a report in connection with the trade policy review of the European Union (EU) conducted on 18 and 20 February 2020. The review looked at developments in EU trade policy in the period from March 2017 to
See MoreUK notifies the WTO of withdrawal from the European Union
A communication from the UK on 1 February 2020 (WT/GC/206) has set out detail on the implications for the World Trade Organisation (WTO) of its departure from the European Union (EU). The communication notifies the WTO that the UK ceased to be a
See MoreWTO: Discussions on Investment Facilitation for Development
A meeting of the WTO’s Structured Discussions on Investment Facilitation for Development took place on 12 December 2019. The initiative was launched two years ago and WTO members aim to make progress on this issue before the 12th Ministerial
See MoreWTO: Trade restrictions at historic highs in G20 countries
A Trade Monitoring Report was issued by the WTO on 21 November 2009 covering the period from mid-May to mid-October 2019. The report indicates that the G20 countries introduced import-restrictive measures affecting goods worth around USD 460.4
See MoreFinland: MFN clause applies in tax treaty with Lithuania
On 2 September 2019, Finnish tax authority published a statement no.67/2019 regarding the application of the most-favored nation (MFN) clause in article 12(7) (Royalties) of Finland’s tax treaty with Lithuania. Under the MFN clause, effective
See MoreWTO issues 2019 annual report
On 4 June 2019 the World Trade Organisation (WTO) published its annual report covering developments in 2018 and early 2019. The period was characterised by growing trade tension and economic uncertainty. A deceleration in economic activity led
See MorePGA Highlights: August 2018
In the United States the following events have taken place under the several PGA during the month of July 2018. Agencies Summary Federal Register Environmental Technologies Trade Advisory Committee (ETTAC) public meeting: This notice sets forth
See MorePGA Highlights: July 2018
In the United States the following events have taken place under the several PGA during the month of June 2018. Agencies Summary Federal Register Correction in advance notification of sunset review: This notice serves to correct the July 2018
See MorePGA Highlights: June 2018
In the United States the following events have taken place under the several PGA during the month of May 2018. Agencies Summary Federal Register Subsidy programs for softwood lumber and softwood lumber products: The Department of Commerce seeks
See MorePGA Highlights: April 2018
In the United States the following events have taken place under the several PGA during the month of April 2018. Agencies Summary Federal Register Subsidy programs on cheese subject to an in-quota rate of duty: This notice provides Commerce's
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