The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by the government of China.
At least 47 countries and territories from five continents have applied to join the Beijing-led Asian Infrastructure Investment Bank as founding members.
Sweden and Kyrgyzstan were among the last to apply before the deadline, 31 March 2015, adding further weight to the regional financing body, which has seen its influence grow even before it officially starts operation.
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Posted by Bogdan Marius Beleuz in Agriculture & Food Security, Auditing & Accounting, European Union Issues, European Union Regulation, Financial & Investment Markets, Financial Transactions, Fiscality, Fiscality, Auditing & Accounting, Global Financial System, Global Tax Agreements, Intellectual Property, International Trading, Law & Legislation, More Trade News in Brief, Reports & Analysis, Statistics, Reports & Analysis on March 23, 2015
* Switzerland, EU Ink New Savings Tax Pact
Switzerland and the European Union (EU) have initialled an agreement on the automatic exchange of tax information (AEOI). Account data will be collected from 2017, with the first exchange scheduled for 2018.
See more clicking here.
* EU: Combatting Corporate Tax Avoidance
The European Commission presented a package of tax transparency measures as part of its ambitious agenda to tackle corporate tax avoidance and harmful tax competition in the EU. A key element of this Tax Transparency Package is a proposal to introduce the automatic exchange of information between Member States on their tax rulings
Read more here.
* China and US Telecoms Giants Lead Global Patent Activity in 2014
According to the UN World Intellectual Property Organization (WIPO) annual review of international patent filings, a leading Chinese telecoms giant overtook a Japanese firm as the largest applicant last year, and China and the US together accounted for 87 per cent of the total growth in filings under WIPO’s Patent Cooperation Treaty (PCT).
Under that system, some 215,000 applications were filed in 2014, a 4.5 per cent increase over the previous year, WIPO said in a news release.
* WTO: Assistance in Food Safety, Animal and Plant Health
Five agencies and their partners operating a programme to help developing countries meet international standards on food safety and animal and plant health have approved plans for 2015–2019 designed to further strengthen safe trade.
The decision will allow the Standards and Trade Development Facility (STDF) to continue to provide assistance to developing countries,
The STDF was set up in 2004 by the UN Food and Agriculture Organization (FAO), World Organization for Animal Health (OIE), World Bank, World Health Organization (WHO) and World Trade Organization (WTO), and is run by the five partners together with donor countries and representatives of developing countries.
* UNWTO World Tourism Barometer 2014
International tourist arrivals reached 1,138 million in 2014, a 4.7% increase over the previous year, according to the latest UNWTO World Tourism Barometer. For 2015, UNWTO forecasts international tourism to grow by 3% to 4%, further contributing to the global economic recovery.
UNWTO World Tourism Barometer
Infographic: International Tourist Arrivals 2014 (per region)
Infographic: International Tourist Arrivals 2014 (growth per region)
Infographic: Why Tourism Matters
UNWTO Tourism Highlights, 2014 Edition
* UNIDO – Global Manufacturing Growth Stayed Low in 2014
According to the last UNIDO report, world manufacturing production has been trapped in low growth for a prolonged period and there was no breakthrough in 2014.
For further information on the report, please click here.
* World Oil Outlook
OPEC’s World Oil Outlook (WOO) is a means to highlight and further the understanding of the many possible future challenges and opportunities that lie ahead for the oil industry.
Check here the 2014 Edition.
* Global Investment Trends in 2014 and Prospects for 2015
Global foreign direct investment (FDI) inflows declined by 8% in 2014. A solid FDI rise remains distant, reports the latest UNCTAD Global Investment Trends.
Download: Global Investment Trends Monitor No. 18.
* UNCTAD and WTO launch partnership on Integrated Trade Database
UNCTAD and the WTO agreed to cooperate in assisting the WTO members in implementing notification requirements for the WTO Integrated Data Base (IDB).
An integrated customs management system for international trade and transport operations in a modern automated environment.
Posted by Bogdan Marius Beleuz in Banking System, Financial & Investment Markets, Financial Transactions, Geopolitical Issues, International Trading, Law & Legislation, More Trade News in Brief, Reports & Analysis, Restrictions, Sanctions & Embargos, Statistics, Reports & Analysis on December 20, 2014
* US and Cuba to Normalize Relations
The leaders of the United States and Cuba agreed to restore full diplomatic relations between the two countries.
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* Russia to Launch Alternative to SWIFT Bank Transaction System
Russia plans to launch its own international inter-bank system by May 2015. The national payment system department of the Central Bank of Russia (CBR) will be in charge of the new project.
Find more here.
* The 2014 edition of the World Intellectual Property Indicators
WIPO’s World Intellectual Property Indicators 2014 provides a wide range of indicators covering the following areas of intellectual property: patents, utility models, trademarks, industrial designs, microorganisms and plant variety protection.
It draws on data from national and regional IP offices, WIPO and the World Bank.
* World Economic Situation and Prospects 2015 (WESP) Report
The UN World Economic Situation and Prospects 2015 (WESP) report, which was launched today, estimates growth in 2015 of 3.1 per cent and in 2016 of 3.3 per cent.
Read more about it here.
——————————————————————————————————————————————–—* ASEAN to Pilot Customs Transit System An ASEAN Customs Transit System (ACTS) will be piloted in Malaysia, Singapore and Thailand. The system, aimed at facilitating the movement of transit goods by road within ASEAN. Read more following the link.
Posted by Bogdan Marius Beleuz in Agriculture & Food Security, Auditing & Accounting, Banking System, Energy & Natural Resources, Geopolitical Issues, Global Financial System, Global Tax Agreements, Globalization Challenges, International Trading, More Trade News in Brief, Statistics, Reports & Analysis, Sustainable Development on November 9, 2014
——————————————————————————————————————————————–—* WTO Report Says Restrictive Trade Measures Continue to Rise in G-20 Economies Restrictive trade measures introduced by G-20 economies since 2008 continue to rise, according to the latest WTO report on recent trade developments issued on 6 November 2014. > WTO Report on G-20 Trade Measures (mid-May 2014 to mid-October 2014) > Summary and Status of G-20 trade and trade-related measures since October 2008 (Excel Format) > OECD/UNCTAD Report on G-20 Investment Measures
Posted by Bogdan Marius Beleuz in Corporate Business & Management, European Union Issues, Fiscality, Auditing & Accounting, Geopolitical Issues, Global Financial System, Global Tax Agreements, Globalization Challenges, International Trading, More Trade News in Brief, Reports & Analysis, Statistics, Reports & Analysis on October 20, 2014
- ensure the coherence of corporate income taxation at the international level, through new model tax and treaty provisions to neutralise hybrid mismatch arrangements (Action 2);
- realign taxation and relevant substance to restore the intended benefits of international standards and to prevent the abuse of tax treaties (Action 6);
- assure that transfer pricing outcomes are in line with value creation, through actions to address transfer pricing issues in the key area of intangibles (Action 8);
- improve transparency for tax administrations and increase certainty and predictability for taxpayers through improved transfer pricing documentation and a template for country-by-country reporting (Action 13);
- address the challenges of the digital economy (Action 1);
- facilitate swift implementation of the BEPS actions through a report on the feasibility of developing a multilateral instrument to amend bilateral tax treaties (Action 15); and
- counter harmful tax practices (Action 5).