US imposes tariffs on steel from nine countries
The International Trade Administration (ITA) of the US Department of Commerce (DOC) has issued a final decision to impose anti-dumping duties on certain Oil Country Tubular Goods (OCTG) from India, Korea, the Philippines, Saudi Arabia, Taiwan,
See MoreWTO issues mixed ruling in US-China trade remedy case
The WTO Appellate Body released its final ruling on a US countervailing duty law affecting Chinese products which is also known otherwise as the “GPX Legislation”. According to WTO ruling there was not enough factual analysis in a previous panel
See MoreUruguay- Signing of TIEA with Guernsey
Uruguay signed a tax information exchange agreement with Guernsey on 2 July 2014. After entering into force the agreement will apply in Uruguay to income tax and dwellings profits and in Uruguay the TIEA will apply to all taxes imposed or
See MoreNew Zealand and Canada welcome WTO environmental goods discussion
As part of a multilateral trade pact being negotiated at the World Trade Organization (WTO), New Zealand and Canada have to cut their import tariffs on a number of environmental goods and it was announced on July 8, 2014. According to their
See MoreUS: IRS limits Electronic Refund
The Inland Revenue Service is going to introduce new procedures to combat and sort out theft in US, with effect from January 2015. The process will limit to three the number of refunds that can be electronically deposited into a single financial
See MoreUS: ADD/CVD Roundup for June 2014
Following table shows the Federal Register notices related to ADD/CVD cases for June 2014 in the United States. Country Product Investigations Case Number Links Belgium Stainless Steel Plate in Coils Initiation of Antidumping Duty
See MoreUS: Ten IGAs Join ‘In Substance’ FATCA
At the eleventh hour another ten jurisdictions joined in FATCA after fulfilling the terms of intergovernmental agreements (IGAs). According to US transitional FATCA rules, agreements come into substance before July 1 can be regarded as being in
See MoreUS: 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Madagascar’s eligibility for African Growth and Opportunity Act (AGOA) tariff benefits, effective immediately, but has withdrawn Swaziland's eligibility, with effect from January 1, 2015.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 MoreUruguay and Guernsey signed Exchange of Information Agreement
Uruguay and Guernsey signed an Exchange of Information Agreement on 2 July 2014. The agreement will enter into force after ratification by both parties, and the possible date for entry into force is not
See MorePeru-New Resolution on VAT Withholding rate
The Tax Administration of Peru approved Resolution No. 203-2014/SUNAT on 27 June 2013. According to the Resolution, the VAT withholding rate will be reduced from 12% to 10% for certain services. The reduced rate will apply to services as in sections
See MoreChile: Exemption from Least Developed Countries’ exports
The World Trade Organization (WTO) has said that Chile has joined a number of developing countries that have opened their markets to products from least-developed countries (LDCs) by waiving duties and quotas on June 30, 2014. Since 28 February
See MoreIRS Warns To Expire Individual Taxpayer Numbers
IRS has announced that Individual Taxpayer Identification Numbers (ITINs) will be expired, effective from 2016, if the numbers have not been used on a federal income tax return for five consecutive years. This is revised policy, under the old policy
See MorePeru-Guidance on reporting of stocks and shares
The tax administration of Peru issued in June 2014 guidance-Resolución Superintendencia No. 169/2014/SUNAT giving approval for an electronic form for Peruvian taxpayers to provide information about the issuance, transfer, and cancelation of stocks
See MoreUS: FATCA comes into force
The United States Foreign Account Tax Compliance Act (FATCA) came into force on July 1 to prevent institutions hiding money on their clients' behalf. FATCA legislation, signed into law in 2010, requires foreign banks to hand over data on clients to
See MorePGA Highlights: June 2014
In United States, The following events have been taken place under the several PGA during the month of June 2014. Agencies Summary Link Federal Register Amendment of unprocessed western red cedar, crude oil, and petroleum products: The Bureau
See MoreSlovenia -United States ratified FATCA agreement 2014 by Slovenia
The Slovenia - United States FATCA Agreement (2014) has been signed on 2 June 2014. Slovenia also approved the Agreement on 19 June 2014 which has been published in the Official Gazette No. 8/14 of 30 June 2014. The approval law becomes effective
See MoreChina: FATCA Pact with US
China has reached an intergovernmental agreement (IGA) with the U.S. on cooperation with the Foreign Account Tax Compliance Act, according to the U.S. Treasury Department. In Accordance with Foreign Account Tax Compliance Act (FATCA), China will
See MoreCanada: CRA offers taxpayer relief provision
The Canada Revenue Agency (CRA) has offered taxpayer relief provisions those are available to taxpayers if they are unable to meet their tax obligations due to extreme weather conditions in Alberta and Ontario. Companies who were fail to file their
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