US imposes tariffs on steel from nine countries

11 July, 2014

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,

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WTO issues mixed ruling in US-China trade remedy case

11 July, 2014

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

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US: IRS limits Electronic Refund

09 July, 2014

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

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US-Israel FATCA agreement details

08 July, 2014

The US Treasury Department has published the official text of the intergovernmental agreement (IGA) between the United States and Israel that was signed on June 30, 2014 for implementation of the Foreign Account Tax Compliance Act (FATCA). The

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US: ADD/CVD Roundup for June 2014

07 July, 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

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India: With US reached an “agreement in substance” Status of Model 1 IGA under FATCA 

07 July, 2014

India and the United States reached an “agreement in substance" for a Model 1 intergovernmental agreement (IGA) for purposes of implementing the FATCA (Foreign Account Tax Compliance Act) regime. The Reserve Bank of India declared in 30 June

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US: Ten IGAs Join ‘In Substance’ FATCA

06 July, 2014

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

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US: Re-establishes Duty-Free Aid Commitment To Africa

06 July, 2014

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

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IRS Warns To Expire Individual Taxpayer Numbers

04 July, 2014

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

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US: FATCA comes into force

03 July, 2014

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

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PGA Highlights: June 2014

03 July, 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

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Slovenia -United States ratified FATCA agreement 2014 by Slovenia

03 July, 2014

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

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China: FATCA Pact with US

02 July, 2014

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

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Israel and US FATCA agreement signed

02 July, 2014

The Israel - United States Foreign Account Tax Compliance Act (FATCA) Agreement (2014) was signed on June 30, 2014. Further details of the agreement will be reported

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New Zealand and United States signs FATCA IGA to share tax information

29 June, 2014

On 12 June, New Zealand signed an intergovernmental agreement with U.S to improve international tax compliance and to implement the Foreign Account Tax Compliance Act.  According to the IGA, New Zealand financial institutions will disclose account

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FATCA agreement between US and Latvia signed

29 June, 2014

Latvia and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement, on June 27, 2014. Under the agreement, Foreign Financial Institutions (FFIs) in Latvia will report the information required under FATCA about U.S. accounts

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Russian banks help IRS after new FATCA law passed

22 June, 2014

The State passes legislation allowing Russian banks to pass information on their U.S. clients to the IRS, as demanded by the Foreign Account Tax Compliance Act (FATCA). FATCA will come into force on July 1, 2014, and by this time the law that

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OECD agrees with US tax reform

18 June, 2014

The Organization for Economic Cooperation and Development's (OECD) chimes in on US tax reform. OECD’s Secretary-General Angel Gurría presented the latest economic survey of the United States which identifies some tax-based reforms required to

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