US

US: IRS now accepting CbC reports

Posted on Updated on

On 11 August 2017 the US IRS in its latest bulletin of news and information on country by country (CbC) reporting advised that parent entities of U.S. multinational enterprise (MNE) groups with $850 million or more of revenues in a previous annual reporting period can now file Form 8975, Country-by-Country Report, with their annual income tax return.

Form 8975, and attached Schedules A, will report a U.S. MNE group’s income, taxes paid, and other indicators of economic activity on a country-by-country basis.

U.S. and Estonia sign an agreement on the exchange of CbC reports

Posted on Updated on

According to an IRS announcement on its website, the competent authorities of the U.S. and Estonia have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of country-by-country reports is on the basis of a double tax convention (DTC). The agreement was signed on 26 July 2017.

Under the arrangement, the first fiscal year for which the U.S. and Estonia intend to exchange CbC reports is the fiscal years of MNE Groups commencing on or after January 1, 2016. The CbC report is intended to be exchanged as soon as possible and no later than 18 months after the last day of the fiscal year of the MNE Group to which the CbC report relates. CbC reports with respect to fiscal years of MNE Groups commencing on or after January 1, 2017 are intended to be exchanged as soon as possible and no later than 15 months after the last day of the fiscal year of the MNE Group to which the CbC report relates.

The Competent Authorities intend to exchange the CbC Reports automatically through a common schema in Extensible Markup Language (XML).

U.S. and Australia sign an agreement on the exchange of CbC reports

Posted on

According to an IRS announcement on its website, the competent authorities of the U.S. and Australia have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of country-by-country reports is on the basis of a double tax convention (DTC). The agreement was signed on 1 August 2017.

Under the arrangement, the first fiscal year for which the U.S. and Australia intend to exchange CbC reports is the fiscal years of MNE Groups commencing on or after January 1, 2016. The CbC report is intended to be exchanged as soon as possible and no later than 18 months after the last day of the fiscal year of the MNE Group to which the CbC report relates. CbC reports with respect to fiscal years of MNE Groups commencing on or after January 1, 2017 are intended to be exchanged as soon as possible and no later than 15 months after the last day of the fiscal year of the MNE Group to which the CbC report relates.

The Competent Authorities intend to exchange the CbC Reports automatically through a common schema in Extensible Markup Language (XML).

United States: ADD/CVD Roundup for July 2017

Posted on

Following table shows the Federal Register notices related to ADD/CVD cases for July 2017 in United States.

Country Product Investigations Case Number Details
Belgium Citric Acid and Certain Citrate Salts Determinations A-423-813 See the Federal Register notification
Brazil Emulsion Styrene-Butadiene Rubber Final Affirmative Determination of Sales at Less Than Fair Value and Final Negative Determination of Critical Circumstances A-351-849 See the Federal Register notification
Brazil Stainless Steel Bar Institution of Five-Year Reviews A-351-825 See the Federal Register notification
Brazil Stainless Steel Bar Initiation of Five-Year (Sunset) Reviews A-351-825 See the Federal Register notification
Canada Softwood Lumber Scheduling of the Final Phase of Antidumping Duty Investigations A-122-838 See the Federal Register notification
Canada Softwood Lumber Scheduling of the Final Phase of Countervailing Duty Investigations C-122-839 See the Federal Register notification
Canada Citric Acid and Certain Citrate Salts Initiation of Antidumping Duty Administrative Reviews A-122-853 See the Federal Register notification
Canada Polyethylene Terephthalate Resin Initiation of Antidumping Duty Administrative Reviews A-122-855 See the Federal Register notification
Canada 100- to 150-Seat Large Civil Aircraft Postponement of Preliminary Determination in the Countervailing Duty Investigation C-122-860 See the Federal Register notification
China (PRC) Chlorinated Isocyanurates Preliminary Results of Antidumping Duty Administrative Review; 2015-2016 A-570-898 See the Federal Register notification
China (PRC) Aluminum Extrusions Affirmative Final Determination of Circumvention of the Antidumping and Rescission of Minor Alterations Anti-Circumvention Inquiry A-570-967 See the Federal Register notification
China (PRC) Aluminum Extrusions Affirmative Final Determination of Circumvention of the Countervailing Duty Orders and Rescission of Minor Alterations Anti-Circumvention Inquiry C-570-968 See the Federal Register notification
China (PRC) Fine Denier Polyester Staple Fiber Determinations A-570-060 See the Federal Register notification
China (PRC) Fine Denier Polyester Staple Fiber Determinations C-570-061 See the Federal Register notification
China (PRC) Narrow Woven Ribbon With Woven Selvedge Preliminary Results of Administrative Review and Partial Rescission of Antidumping Duty Administrative Review A-570-952 See the Federal Register notification
China (PRC) Fresh Garlic Notice of Court Decision Not in Harmony With Final Rescission and Notice of Amended Final Results A-570-831 See the Federal Register notification
China (PRC) Aluminum Extrusions Notice of Second Amended Final Scope Ruling Pursuant to Court Decision A-570-967 See the Federal Register notification
China (PRC) Aluminum Extrusions Notice of Second Amended Final Scope Ruling Pursuant to Court Decision C-570-968 See the Federal Register notification
China (PRC) Certain Hardwood Plywood Products Amended Preliminary Determination of Sales at Less Than Fair Value A-570-051 See the Federal Register notification
China (PRC) Crystalline Silicon Photovoltaic Cells, Whether or Not Assembled Into Modules Final Results of Countervailing Duty Administrative Review, and Partial Rescission of Countervailing Duty Administrative Review; 2014 C-570-980 See the Federal Register notification
China (PRC) Certain Crystalline Silicon Photovoltaic Products Final Results of Antidumping Duty Administrative Review and Final Determination of No Shipments; 2014-2016 A-570-010 See the Federal Register notification
China (PRC) Hardwood Plywood Scheduling of the Final Phase of Antidumping Duty Investigations A-570-051 See the Federal Register notification
China (PRC) Hardwood Plywood Scheduling of the Final Phase of Countervailing Duty Investigations C-570-052 See the Federal Register notification
China (PRC) Fresh Garlic Initiation of Semiannual Antidumping Duty New Shipper Review; 2016-2017 A-570-831 See the Federal Register notification
China (PRC) Honey Preliminary Rescission of the New Shipper Review and Preliminary Results of the Administrative Review; 2015-2016 A-570-863 See the Federal Register notification
China (PRC) Aluminum Extrusions Initiation of Antidumping Duty Administrative Reviews A-570-967 See the Federal Register notification
China (PRC) Pure Magnesium Initiation of Antidumping Duty Administrative Reviews A-570-832 See the Federal Register notification
China (PRC) Aluminum Extrusions Initiation of Countervailing Duty Administrative Reviews C-570-968 See the Federal Register notification
China (PRC) Tapered Roller Bearings and Parts Thereof, Finished and Unfinished Preliminary Results and Preliminary Rescission of New Shipper Review; 2015-2016 A-570-601 See the Federal Register notification
China (PRC) Certain Tool Chests and Cabinets Postponement of Preliminary Determination in Countervailing Duty Investigation C-570-057 See the Federal Register notification
China (PRC) Certain Preserved Mushrooms Final Results of Antidumping Duty Administrative Review and Final Determination of No Shipments; 2015-2016 A-570-851 See the Federal Register notification
China (PRC) Carbon Steel Butt-Weld Pipe Fittings Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-570-814 See the Federal Register notification
China (PRC) Certain Potassium Phosphate Salts Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-570-962 See the Federal Register notification
China (PRC) Certain Steel Grating Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-570-947 See the Federal Register notification
China (PRC) Circular Welded Carbon Quality Steel Pipe Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-570-910 See the Federal Register notification
China (PRC) Cold-Rolled Steel Flat Products Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-570-029 See the Federal Register notification
China (PRC) Corrosion-Resistant Steel Products Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-570-026 See the Federal Register notification
China (PRC) Persulfates Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-570-847 See the Federal Register notification
China (PRC) Xanthan Gum Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-570-985 See the Federal Register notification
China (PRC) Certain Potassium Phosphate Salts Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-570-963 See the Federal Register notification
China (PRC) Circular Welded Carbon Quality Steel Pipe Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-570-911 See the Federal Register notification
China (PRC) Cold-Rolled Steel Flat Products Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-570-030 See the Federal Register notification
China (PRC) Corrosion-Resistant Steel Products Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-570-027 See the Federal Register notification
China (PRC) Prestressed Concrete Steel Wire Strand Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-570-946 See the Federal Register notification
China (PRC) Steel Grating Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-570-948 See the Federal Register notification
China (PRC) Lined Paper Products Initiation of Five-Year (Sunset) Reviews A-570-901 See the Federal Register notification
China (PRC) Tapered Roller Bearings Initiation of Five-Year (Sunset) Reviews A-570-601 See the Federal Register notification
China (PRC) Silicon Metal Final Results of the Expedited Fourth Sunset Review of the Antidumping Duty Order A-570-806 See the Federal Register notification
China (PRC) Tapered Roller Bearings Institution of a Five-Year Review A-570-601 See the Federal Register notification
China (PRC) Certain Lined Paper School Supplies Institution of Five-Year Reviews A-570-901 See the Federal Register notification
Colombia Citric Acid and Certain Citrate Salts Determinations A-301-803 See the Federal Register notification
France Brass Sheet and Strip Scheduling of Expedited Five-Year Reviews A-427-602 See the Federal Register notification
France Brass Sheet and Strip Final Results of the Expedited Fourth Sunset Reviews of the Antidumping Duty Orders A-427-602 See the Federal Register notification
Germany Brass Sheet and Strip Scheduling of Expedited Five-Year Reviews A-428-602 See the Federal Register notification
Germany Brass Sheet and Strip Final Results of the Expedited Fourth Sunset Reviews of the Antidumping Duty Orders A-428-602 See the Federal Register notification
Germany Seamless Line and Pressure Pipe Antidumping Duty Order, Finding, or Suspended Investigation; Advance Notice of Sunset Reviews A-428-820 See the Federal Register notification
India Certain Oil Country Tubular Goods Notice of Correction to Amended Final Determination and Amendment of Antidumping Duty Order A-533-857 See the Federal Register notification
India Fine Denier Polyester Staple Fiber Determinations A-533-875 See the Federal Register notification
India Fine Denier Polyester Staple Fiber Determinations C-533-876 See the Federal Register notification
India Finished Carbon Steel Flanges From India Supplemental Schedule for the Subject Investigations A-533-871 See the Federal Register notification
India Finished Carbon Steel Flanges Supplemental Schedule for the Subject Investigations C-533-872 See the Federal Register notification
India Polyethylene Terephthalate Resin Initiation of Antidumping Duty Administrative Reviews A-533-861 See the Federal Register notification
India Polyethylene Terephthalate Resin Initiation of Countervailing Duty Administrative Reviews C-533-862 See the Federal Register notification
India Stainless Steel Bar Institution of Five-Year Reviews A-533-810 See the Federal Register notification
India Corrosion-Resistant Steel Products Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-533-863 See the Federal Register notification
India Polyethylene Terephthalate (Pet) Film Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-533-824 See the Federal Register notification
India Corrosion-Resistant Steel Products Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-533-864 See the Federal Register notification
India Polyethylene Terephthalate (Pet) Film Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-533-825 See the Federal Register notification
India Lined Paper Products Initiation of Five-Year (Sunset) Reviews A-533-843 See the Federal Register notification
India Lined Paper Products Initiation of Five-Year (Sunset) Reviews C-533-844 See the Federal Register notification
India Stainless Steel Bar Initiation of Five-Year (Sunset) Reviews A-533-810 See the Federal Register notification
India Certain Lined Paper School Supplies Institution of Five-Year Reviews A-533-843 See the Federal Register notification
India Certain Lined Paper School Supplies Institution of Five-Year Reviews C-533-844 See the Federal Register notification
Iran Certain In-Shell (Raw) Pistachios Continuation of Antidumping Duty Order A-507-502 See the Federal Register notification
Iran In-Shell Pistachios Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-507-502 See the Federal Register notification
Italy Certain Pasta Preliminary Results of Countervailing Duty Administrative Review; 2015 C-475-819 See the Federal Register notification
Italy Brass Sheet and Strip Scheduling of Expedited Five-Year Reviews A-475-601 See the Federal Register notification
Italy Finished Carbon Steel Flanges Italy Supplemental Schedule for the Subject Investigations A-475-835 See the Federal Register notification
Italy Brass Sheet and Strip Final Results of the Expedited Fourth Sunset Reviews of the Antidumping Duty Orders A-475-601 See the Federal Register notification
Italy Certain Pasta Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-475-818 See the Federal Register notification
Italy Corrosion-Resistant Steel Products Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-475-832 See the Federal Register notification
Italy Certain Pasta Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-475-819 See the Federal Register notification
Italy Corrosion-Resistant Steel Products Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-475-833 See the Federal Register notification
Japan Brass Sheet and Strip Scheduling of Expedited Five-Year Reviews A-588-704 See the Federal Register notification
Japan Gray Portland Cement and Cement Clinker Continuation of Antidumping Duty Order A-588-815 See the Federal Register notification
Japan Steel Concrete Reinforcing Bar Amended Final Affirmative Antidumping Duty Determination and Antidumping Duty Orders A-588-876 See the Federal Register notification
Japan Steel Concrete Reinforcing Bar Final Affirmative Antidumping Duty Determination A–588–876 See the Federal Register notification
Japan Diffusion-Annealed Nickel-Plated Flat-Rolled Steel Initiation of Antidumping Duty Administrative Reviews A-588-869 See the Federal Register notification
Japan Brass Sheet and Strip Final Results of the Expedited Fourth Sunset Reviews of the Antidumping Duty Orders A-588-704 See the Federal Register notification
Japan Gray Portland Cement and Cement Clinker Determinations A-588-815 See the Federal Register notification
Japan Stainless Steel Bar Institution of Five-Year Reviews A-588-833 See the Federal Register notification
Japan Clad Steel Plate Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-588-838 See the Federal Register notification
Japan Cold-Rolled Steel Flat Products Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-588-873 See the Federal Register notification
Japan Polyvinyl Alcohol Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-588-861 See the Federal Register notification
Japan Stainless Steel Sheet and Strip in Coils Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-588-845 See the Federal Register notification
Japan Stainless Steel Bar Initiation of Five-Year (Sunset) Reviews A-588-833 See the Federal Register notification
Malaysia Certain Steel Nails Final Results of the Changed Circumstances Review A-557-816 See the Federal Register notification
Malaysia Steel Nails Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-557-816 See the Federal Register notification
Malaysia Welded Stainless Steel Pressure Pipe Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-557-815 See the Federal Register notification
Mexico Emulsion Styrene-Butadiene Rubber Final Affirmative Determination of Sales at Less Than Fair Value A-201-848 See the Federal Register notification
Mexico Large Residential Washers Final Results of Antidumping Duty Administrative Review; 2015-2016 A-201-842 See the Federal Register notification
Mexico Sugar Amendment to the Agreement Suspending the Antidumping Duty Investigation A-201-845 See the Federal Register notification
Mexico Sugar Amendment to the Agreement Suspending the Countervailing Duty Investigation C-201-846 See the Federal Register notification
Oman Polyethylene Terephthalate Resin Initiation of Antidumping Duty Administrative Reviews A-523-810 See the Federal Register notification
Oman Steel Nails Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-523-808 See the Federal Register notification
Poland Emulsion Styrene-Butadiene Rubber Final Affirmative Determination of Sales at Less Than Fair Value A-455-805 See the Federal Register notification
Republic of Korea Certain Cut-to-Length Carbon-Quality Steel Plate Products Rescission of Antidumping Duty Administrative Review in Part; 2016-2017 A-580-836 See the Federal Register notification
Republic of Korea Certain Tapered Roller Bearings Initiation of Less-Than-Fair-Value Investigation A-580-894 See the Federal Register notification
Republic of Korea Low Melt Polyester Staple Fiber Initiation of Less-Than-Fair-Value Investigations A-580-895 See the Federal Register notification
Republic of Korea Fine Denier Polyester Staple Fiber Determinations A-580-893 See the Federal Register notification
Republic of Korea Emulsion Styrene-Butadiene Rubber Final Affirmative Determination of Sales at Less Than Fair Value, and of Critical Circumstances, in Part A-580-890 See the Federal Register notification
Republic of Korea Certain Oil Country Tubular Goods Amended Final Results of Antidumping Duty Administrative Review; 2014-2015 A-580-870 See the Federal Register notification
Republic of Korea Polyester Staple Fiber Initiation of Antidumping Duty Administrative Reviews A-580-839 See the Federal Register notification
Republic of Korea Stainless Steel Pipe Rescission of Antidumping Duty Administrative Review; 2015-2016 A-580-810 See the Federal Register notification
Republic of Korea Tapered Roller Bearings Institution of Antidumping Duty Investigation and Scheduling of Preliminary Phase Investigation A–580–894 See the Federal Register notification
Republic of Korea Corrosion-Resistant Steel Products Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-580-878 See the Federal Register notification
Republic of Korea Stainless Steel Sheet and Strip in Coils Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-580-834 See the Federal Register notification
Republic of Korea Steel Nails Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-580-874 See the Federal Register notification
Republic of Korea Corrosion-Resistant Steel Products Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-580-879 See the Federal Register notification
Republic of Korea Large Power Transformers Initiation of Five-Year (Sunset) Reviews A-580-867 See the Federal Register notification
Republic of Korea Low Melt Polyester Staple Fiber (PSF) Institution of Antidumping Duty Investigations and Scheduling of Preliminary Phase Investigations A-580-895 See the Federal Register notification
Republic of Korea Large Power Transformers Institution of a Five-Year Review A-580-867 See the Federal Register notification
Russia Certain Hot-Rolled Flat-Rolled Carbon-Quality Steel Products Final Results of Antidumping Duty Administrative Review; 2014-2015 A-821-809 See the Federal Register notification
Spain Ripe Olives Initiation of Less-Than-Fair-Value Investigation A-469-817 See the Federal Register notification
Spain Ripe Olives Initiation of Countervailing Duty Investigation C-469-818 See the Federal Register notification
Spain Stainless Steel Bar Institution of Five-Year Reviews A-469-805 See the Federal Register notification
Spain Stainless Steel Bar Initiation of Five-Year (Sunset) Reviews A-469-805 See the Federal Register notification
Taiwan Certain Oil Country Tubular Goods Notice of Amended Final Determination and Revocation of Antidumping Duty Order A-583-850 See the Federal Register notification
Taiwan Light-Walled Rectangular Pipe and Tube Determinations A-583-803 See the Federal Register notification
Taiwan Steel Concrete Reinforcing Bar Final Determination of Sales at Less Than Fair Value A-583-859 See the Federal Register notification
Taiwan Low Melt Polyester Staple Fiber Initiation of Less-Than-Fair-Value Investigations A-583-861 See the Federal Register notification
Taiwan Fine Denier Polyester Staple Fiber Determinations A-583-860 See the Federal Register notification
Taiwan Certain Crystalline Silicon Photovoltaic Products Final Results of Antidumping Duty Administrative Review; 2014-2016 A-583-853 See the Federal Register notification
Taiwan Certain Circular Welded Carbon Steel Pipes and Tubes Initiation of Antidumping Duty Administrative Reviews A-583-008 See the Federal Register notification
Taiwan Certain Stilbenic Optical Brigtening Agents Initiation of Antidumping Duty Administrative Reviews A-583-848 See the Federal Register notification
Taiwan Corrosion-Resistant Steel Products Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-583-856 See the Federal Register notification
Taiwan Polyethylene Terephthalate (Pet) Film Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-583-837 See the Federal Register notification
Taiwan Stainless Steel Sheet and Strip in Coils Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-583-831 See the Federal Register notification
Taiwan Steel Nails Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-583-854 See the Federal Register notification
Taiwan Low Melt Polyester Staple Fiber (PSF) Institution of Antidumping Duty Investigations and Scheduling of Preliminary Phase Investigations A-583-861 See the Federal Register notification
Thailand Citric Acid and Certain Citrate Salts Determinations A-549-833 See the Federal Register notification
Thailand Citric Acid and Certain Citrate Salts Determinations C-549-834 See the Federal Register notification
Thailand Carbon Steel Butt-Weld Pipe Fittings Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-549-807 See the Federal Register notification
Thailand Weld Stainless Steel Pressure Pipe Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-549-830 See the Federal Register notification
Thailand Certain Frozen Warmwater Shrimp Final Results of Antidumping Duty Administrative Review; Final Determination of No Shipments; 2015-2016 A-549-822 See the Federal Register notification
Turkey Steel Concrete Reinforcing Bar Amended Final Affirmative Antidumping Duty Determination and Antidumping Duty Orders A-489-829 See the Federal Register notification
Turkey Steel Concrete Reinforcing Bar Amended Final Affirmative Countervailing Duty Determination and Countervailing Duty Order C-489-830 See the Federal Register notification
Turkey Steel Concrete Reinforcing Bar Final Affirmative Antidumping Duty Determination A–489–829 See the Federal Register notification
Turkey Steel Concrete Reinforcing Bar Final Affirmative Countervailing Duty Determination C–489–830 See the Federal Register notification
Turkey Circular Welded Carbon Steel Pipes and Tubes Initiation of Antidumping Duty Administrative Reviews A-489-501 See the Federal Register notification
Turkey Light-Walled Rectangular Pipe and Tube Initiation of Antidumping Duty Administrative Reviews A-489-815 See the Federal Register notification
Turkey Certain Pasta Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-489-805 See the Federal Register notification
Turkey Certain Pasta Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-489-806 See the Federal Register notification
UAE Certain Steel Nails Initiation of Antidumping Duty Administrative Reviews A-520-804 See the Federal Register notification
Ukraine Certain Oil Country Tubular Goods Amendment to the Agreement Suspending the Antidumping Duty Investigation A-823-815 See the Federal Register notification
Ukraine Oil Country Tubular Goods Suspended Investigation; Opportunity To Request Administrative Review A-823-815 See the Federal Register notification
Vietnam Fine Denier Polyester Staple Fiber Termination of Investigation A-552-822 See the Federal Register notification
Vietnam Fine Denier Polyester Staple Fiber Termination of Less-Than-Fair-Value Investigation A-552-822 See the Federal Register notification
Vietnam Steel Nails Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-552-818 See the Federal Register notification
Vietnam Welded Stainless Pressure Pipe Antidumping Duty Order, Finding, Investigation; Opportunity To Request Administrative Review A-522-816 See the Federal Register notification
Vietnam Steel Nails Countervailing Duty Order, Finding, Investigation; Opportunity To Request Administrative Review C-552-819 See the Federal Register notification

PGA Highlights: July 2017

Posted on Updated on

In the United States the following events have taken place under the several PGA during the month of July 2017.

Agencies Summary
Federal Register Upcoming public hearing on 2016/2017 GSP review:
The GSP Subcommittee of the Trade Policy Staff Committee (TPSC) will join a public hearing on the GSP country practice review of Bolivia on September 26, 2017. Deadline for submission of post-hearing briefs is October 17, 2017 and deadline for submission of comments, pre-hearing briefs and requests to appear at the public hearing is September 5, 2017. See Details
Notice of request for Panel Review:
A request for Panel Review was filed on behalf of Maquilacero S.A. de C.V. with the United States Section of the NAFTA Secretariat on July 12, 2017, pursuant to NAFTA Article 1904. Panel Review was requested of the Department of Commerce’s final determination regarding Certain Circular Welded Non-Alloy Steel Pipe from Mexico. See Details
Fiscal year 2018 tariff-rate quota allocations for sugar and sugar products:
The United States Trade Representative (USTR) provided notice of country-by-country allocations of the Fiscal Year (FY) 2018 (from October 1, 2017 through September 30, 2018) in-quota quantity of the tariff-rate quotas for imported raw cane sugar, certain sugars, syrups and molasses (also known as refined sugar), specialty sugar, and sugar-containing products. See Details
Extension of import restrictions on some objects from Cyprus:
This document amends the CBP regulations to reflect an extension of import restrictions on pre-classical and classical archaeological objects, and Byzantine and post-Byzantine ecclesiastical and ritual ethnological materials from Cyprus. The restrictions are due to expire on July 16, 2017. See Details
Electronic information for cargo exported from the U.S.:
This final rule amends U.S. CBP regulations regarding the requirements to provide data for certain exported cargo to conform to current requirements. Various CBP regulations regarding exported cargo refer to outdated regulations or requirements of the U.S. Census Bureau, including the requirement to submit a paper Shipper’s Export Declaration (SED). See Details
CBP CBP releases Harmonized System Update:
The U.S. Customs and Border Protection (CBP) issued Cargo Systems Messaging Service (CSMS) #17-000421 on July 26, 2017, announcing that the Harmonized System Update (HSU) 1706 was created on July 25, 2017, containing 834 ABI records and 157 harmonized tariff records. Adjustments required by the verification of the 2017 Harmonized Tariff Schedule (HTS) are also included. See Details
ACE current deployment updates:
The U.S. CBP released Cargo Systems Messaging Service (CSMS) #17-000423 on July 27, 2017, announcing an updated release schedule for the ACE post release capabilities, including liquidation (excluding the already deployed notice of liquidation), reconciliation, drawback, duty deferral, statements, collections, and the Automated Surety Interface (ASI). The ACE Deployment G is to be scheduled on September 16, 2017 for non-ABI entry summary/lineless (for CBP only), duty Deferral, e214. In case of statements, the ACE Deployment G will be scheduled on December 17, 2017 and for reconciliation, ACE Core Drawback and Trade Facilitation and Trade Enforcement Act (TFTEA) Drawback, liquidation and Automated Surety Interface (ASI), the ACE Deployment G is to be dated on February 24, 2018. Another opportunity was disclosed in this updates. That is, trade users will have the option to file either Core Drawback or TFTEA Drawback between February 2018 and February 2019. See Details
Drawback in ACE system:
The U.S. Customs and Border Protection (CBP) will deploy Drawback capabilities in ACE on February 24, 2018, at which time Drawback entries will no longer be filed/processed in ACS and must be done via ACE. Between February 2018 and February 2019, trade users will have the option to submit either Core Drawback or TFTEA Drawback. The rescheduled deployment date will be published at least 30 days in advance of the mandatory transition. Additionally, when filing an ABI drawback claim the paper CBP Drawback entry form 7551 and the Certificate of Manufacturer form 7552 will no longer be required. Note that, there will be a limit on the number of records per claim. See Details
Duty Deferral in ACE:
The U.S. Customs and Border Protection (CBP) will deploy Duty Deferral capabilities in ACE on September 16, 2017, at which time Duty Deferral entries will no longer be filed/processed in ACS and must be done via ACE. This news describes some changes for the trade community with respect to Duty Deferral entries in ACE. See Details
Liquidation in ACE:
The U.S. CBP will deploy Liquidation capabilities in ACE on February 24, 2018, at which time liquidations will no longer be filed/processed in ACS and must be done via ACE. This phased approach ensures that the ACE core post release capabilities continue to interface seamlessly with collections in the legacy system. Note that, liquidations will be posted 365 days a year, including holidays.  The trade will be able to search the electronic bulletin by filer or date the event occurred. Postings will be kept online for 15 months to allow time to search for a liquidation.  After 18 months, a request will need to be made to CBP to view a past liquidation. See Details
Reconciliation in ACE:
The U.S. Customs and Border Protection (CBP) will deploy Reconciliation capabilities in ACE on February 24, 2018.  This phased approach ensures that the ACE core post release capabilities continue to interface seamlessly with collections in the legacy system. Note that, No longer need to submit original amounts for transmitting Reconciliation Entry Type 09. ACE will automatically populate the original values, duties, taxes, and fees. This information will be pulled from the associated entry summaries. See Details
CBP declares alert on EPA FIFRA requirements:
The U.S. CBP released Cargo Systems Messaging Service (CSMS) #17-000416 on July 24, 2017, providing a reminder on special import requirements for imported goods subject to the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA). Starting from August 1, 2017, if trade provides EPA Pesticides with disclaim codes C or D for commodities subject to FIFRA import requirements, ACE will automatically send an SO70 message to trade that indicates that EPA has put a “Documents Required” on that entry, to signify ‘additional information required’. This is because PGA data is evaluated in parallel with CBP data. See Details
FSIS process for certain fish and fish products:
The CBP published CSMS #17-000393 on behalf of the Food Safety and Inspection Service (FSIS). The FSIS is announcing that starting from August 2, 2017, all shipments of imported siluriformes fish and fish products that make U.S. Customs entry on or after August 2, 2017, must be presented at an Official Import Inspection Establishment for reinspection by FSIS personnel prior to entering U.S. commerce. FSIS has posted an updated letter with instructions for filing the import application (FSIS form 9540-1). Note that, the Partner Government Agency (PGA) Message Set for these products under FSIS jurisdiction will not be available for use until further notice. See Details
FCC FCC announces plans to eliminate Form 740 for RF devices:
The Federal Communication Commission (FCC) streamlined and modernized the authorization requirements for most radio frequency devices, such as cell phones or TV receivers, that are imported, marketed, or operated within the United States on July 13, 2017. The commission also eliminates FCC Form 740 – the FCC’s unique import declaration for RF devices brought into the United States. See Details

IMF report looks at US economic prospects and tax reform

Posted on

On 26 July 2017 the IMF issued a staff report following the conclusion of consultations with the US under Article IV of the IMF’s articles of agreement.

The report suggests that in the medium term reforms should include a more efficient tax system; a more effective regulatory system; an increase in infrastructure spending; and reform of the welfare system. The reforms could raise productivity, labor supply and investment. This would require changes in fiscal spending and revenue priorities and a steady fiscal consolidation course.

The IMF Directors consider that the tax reform should lead to a higher tax-to-GDP ratio but the burden of the fiscal adjustment should not be borne by low and middle income households. The US personal and business tax system should be simpler and less distortionary with lower rates and fewer exemptions. Labor force participation should be increased and support given to low and middle income households. The tax reform should be revenue enhancing over the medium term.

To maintain a flexible workforce the measures should aim to improve educational opportunities, offer childcare support for low and middle income families, expand the earned income tax credit, increase the federal minimum wage and provide better social assistance programs for the poor. Measures to reform the social security system could include raising the income ceiling for social security contributions; indexing benefits to inflation; increasing the retirement age; and introducing more progressivity into the benefit structure.

The IMF notes that there is broad agreement on the objectives of tax reform that include simplifying the system; reducing tax preferences; lowering marginal rates; encouraging labor force participation, business investment and innovation; reducing the polarization of incomes; and supporting low and middle income households.

The US corporate income tax could be reformed by moving to a rent tax such as a cashflow tax or an allowance for corporate capital tax with a lower marginal tax rate. The aim would be to encourage business investment and reduce the incentive to use debt finance.  Many of the current corporate tax preferences could be removed. This reform would affect domestic activity and investment but also have international consequences such as effect on international investment location and on incentives for profit shifting,

A transition to a territorial system of taxation has been suggested by the administration but would need to be combined with a minimum tax for profits from low tax jurisdictions to reduce the scope for profit shifting. The administration’s proposal for a one-time tax on the stock of unrepatriated profits of multinationals could be incorporated into the tax reform. The profits could be taxed at rates that are a little lower than the current tax rate. This would be efficient as the profits are past profits but on the other hand deferring the tax has already brought benefits for the taxpayers keeping profits offshore.

Income tax relief for low and middle income groups could help reduce income polarization and increase labor force participation. Most specific tax deductions could be removed and instead the standard tax deduction could be increased. Tax deductions that are not abolished, for example mortgage interest relief, could be capped. Eligibility for the earned income tax credit (EITC) could be expanded and the credit could be increased. This could be combined with an increase in the federal minimum wage so that an increase in the EITC does not lead to a decrease in pre-tax wages for lower income workers.

If the effective tax rate on pass-through entities is lower than the effective tax rate on distributed corporate profits or lower than the top marginal personal income tax rate there is an incentive for some firms to become pass-through entities and for higher income employees to become independent contractors for tax reasons. Any tax rate reduction for pass-through entities must be combined with anti-avoidance provisions to limit the recharacterization of income but this would add an administrative burden.

To ensure that the tax reform results in more revenue the US could rely more on other revenue sources such as a federal consumption tax, a broad based carbon tax or a higher federal gas tax. A move from direct to indirect taxes would have a positive effect on long-term economic growth. The IMF notes however that the proposal to introduce either a carbon tax or a consumption tax is not politically feasible at the moment.

 

U.S. and Slovakia sign an agreement on the exchange of CbC reports

Posted on Updated on

According to an IRS announcement on its website, the competent authorities of the U.S. and Slovakia have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of country-by-country reports is on the basis of a double tax convention (DTC). The agreement was signed on 21 June 2017.

Under the arrangement, the first fiscal year for which the U.S. and Slovakia intend to exchange CbC reports is the fiscal years of MNE Groups commencing on or after January 1, 2016. The CbC report is intended to be exchanged as soon as possible and no later than 18 months after the last day of the fiscal year of the MNE Group to which the CbC report relates. CbC reports with respect to fiscal years of MNE Groups commencing on or after January 1, 2017 are intended to be exchanged as soon as possible and no later than 15 months after the last day of the fiscal year of the MNE Group to which the CbC report relates.

The Competent Authorities intend to exchange the CbC Reports automatically through a common schema in Extensible Markup Language (XML).