Archive for category Financial Transactions
EU, Andorra Sign AEOI Agreement
The European Union (EU) and Andorra have signed a deal to automatically exchange tax information.
See more here.
FTA Talks – China & GCC
FTA talks between China and the GCC – comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates – originally began in 2004 but faltered in 2009. They resumed the talks this month and they are seeking to complete them by the end of 2016.
See more following the link.
Canada, Taiwan Sign Double Tax Treaty
Canada and Taiwan have signed a double tax agreement (DTA) that will limit the withholding tax rates on income from dividends, interest, and royalties, and provide for the exchange of tax information.
Read more here.
New DTA Protocols
Switzerland has signed protocols to its double taxation agreements (DTAs) with Norway and Albania.
See more following the link.
EFTA and Georgia Start FTA Talks
The member states of the European Free Trade Association (EFTA) and Georgia held a first round of negotiations towards a free trade agreement (FTA).
Check for more here.
New Zealand Seeks Signature of Gulf FTA
New Zealand is looking for a free trade agreement with the Gulf States.
Check for more here.
* UNCTAD – World Investment Report 2015
The World Investment Report focuses on trends in foreign direct investment (FDI) worldwide.
* New WCO Guide to Customs Valuation and Transfer Pricing
The WCO launched a major new guide on the topic of Customs valuation and transfer pricing.
The guide is available to download via this link.
* ICC Launches New Tool to Promote Business Sustainability
The International Chamber of Commerce (ICC) launched the 3rd and radical update of its respected Business Charter for Sustainable Development.
* OECD – Government at a Glance 2015
Monday, 6 July, the OECD will publish Government at a Glance 2015.
The biannual report presents more than 50 indicators to compare governments’ performance in everything from public finances (including government spending per person), cuts to staffing and pay in central government and the level of private asset disclosure by government officials to access to and satisfaction with the healthcare, education and the justice systems.
* The OECD-FAO Agricultural Outlook 2015-2024
The OECD-FAO Agricultural Outlook 2015-2024 will be published on Wednesday 1 July.
The report analyses agriculture production, discusses how global markets are reacting to price volatility in both food and commodity markets and looks at farm sector trends for the coming decade.
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.
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.
Check here for more.
* 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.
- 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).
——————————————————————————————————————————————–—* New Global Innovation Index ICC launched the 7th edition Global Innovation Index 2014 (GII). New Global Innovation Index recognizes innovation as a driver of economic growth, read more here. ——————————————————————————————————————————————–—
* Guide on Effective Management of Arbitration The ICC guide “Effective Management of Arbitration: A Guide for In-House Counsel and Other Party Representatives” provides a practical toolkit for in-house counsel all around the world. Check here for more.