* Canada-Jordan FTA Enters Into Force
The free trade agreement (FTA) between Canada and Jordan was signed in June, 2009 and it is to enter into force on October 1, 2012.
* US Forbids To Comply With EU ETS
US Senate Forbids US’s airlines to complying with the European Union’s emissions trading scheme (ETS).
* Basel III monitoring exercise as of 31 December 2011
The Bank for International Settlements (BIS) published the report regarding the implications of the Basel III standards for financial markets.
The World Trade Organization (WTO) published “WTO Annual Report 2012”: an overview of 2011 and a detailed review of the WTO’s main areas of activity (trade negotiations; implementation of WTO agreements and trade monitoring; dispute settlement; building trade capacity; and outreach).
* US & UK Sign FATCA Agreement
US and UK announced the signing of a bilateral agreement to implement the information reporting and withholding tax provisions within the Foreign Account Tax Compliance Act (FATCA).
Kindly check here.
* US Intents to Extend FATCA to EU & Asia
US will send its Deputy Assistant Secretary for International Tax Affairs to EU and Asian countries to discuss the implementation of the Foreign Account Tax Compliance Act (FATCA). This action is part of the US Treasury Department strategy on the global efforts to combat offshore tax evasion.
20 September 2012, Brussels
The Memorandum of Understanding (MoU) signed between the European Union (EU) and China covers legislation, enforcement and technical cooperation regarding cartels, other restrictive agreements and the abuse of dominant market positions.
Please check the press release.
* Liechtenstein & Germany – Tax Data Exchange
Liechtenstein and Germany are currently considering the idea of concluding a withholding tax agreement with an automatic exchange of tax information.
For more information please follow the link.
* New Rules in the EU Standardisation System
The European Union (EU) prepare a new regulation modernising the EU Standardisation system and will also be better plugged into the international standardisation system.
The new rules enter into force on 1 January 2013 and will apply directly in all member states.
Kindly check here.
* Equasis 2011 Annual Report published
“The world merchant fleet in 2011” has been published and is available for download.
Equasis is database containing safety-related information on the world’s merchant fleet from both public and private sources.
* New ISO standard for eco-efficiency assessment
13 September 2012
The International Organization for Standardization (ISO) published a new standard describing the principles, requirements and guidelines for eco-efficiency assessment for product systems.
ISO 14045:2012, Environmental management – Eco-efficiency assessment of product systems – Principles, requirements and guidelines is available through the ISO Store.
* Singapore & Vietnam Sign DTA Protocol
12 September 2012
Singapore and Vietnam signed a protocol to amend the existing double taxation agreement (DTA) between the two countries.
For more, please check here.
11 September 2012, Paris
The OECD’s published its annual report “Education at a Glance” which is the leading international compendium of comparable national statistics measuring the state of education worldwide.
The report analyses the education systems of the 34 OECD member countries, as well as those of Argentina, Brazil, China, India, Indonesia, Russia, Saudi Arabia and South Africa.
With the banking union the European Union (EU) wants to break the link between Member States and their banks, to restore the credibility of the financial sector, to preserve tax payers’ money and to make sure that banks serve society and the real economy.
Three European supervisory authorities (ESAs) started work on 1 January 2011 to provide a supervisory framework:
– the European Banking Authority (EBA)
– the European Securities and Markets Authority (ESMA)
– the European Insurance and Occupational Pensions Authority (EIOPA)
For more information please refer to the EU’s webpage.