Tax & Accounting Blog

Will the Wave of Protectionism Make International Trade Great Again?

Will the Wave of Protectionism Make International Trade Great Again?

Unquestionably, international trade flows have exploded throughout the century.  Countries have been using the global transaction of goods as a main source to obtain foreign exchange. A main objective for countries is to maintain a favorable trade balance. To achieve this objective, most countries take the position to export as much as possible and import … Read More

Canada’s 2017 Federal Budget Does Not Contain New BEPS Measures

Canada’s 2017 Federal Budget Does Not Contain New BEPS Measures

On March 22, 2017, Canada’s Liberal Party-run government issued its 2017 Federal Budget (the “Budget”) before Parliament. The Budget contains one international tax legislative proposal that would extend Canada’s anti-avoidance rules to foreign branches of Canadian life insurance companies. While the Budget does not contain any new legislative measures relating to the OECD … Read More

Flanders Implements EU DAC 3 on Automatic Exchange of Tax Ruling Information

Flanders Implements EU DAC 3 on Automatic Exchange of Tax Ruling Information

On March 14, 2017, Belgium published the Decree of February 17, 2017 in the official gazette, implementing in Flanders, the Dutch-speaking northern portion of Belgium, the December 8, 2015 amendments to the EU Mutual Assistance Directive (2015/2376) ("Directive" or DAC 3) on the automatic exchange of tax ruling and advance pricing … Read More

The WCO 2017 Tariff Classification Changes and the Effects upon Thailand Adoption

The WCO 2017 Tariff Classification Changes and the Effects upon Thailand Adoption

WCO 2017 Version of the Harmonized System Every 5 years the World Customs Organization has the duty under the 1983 HS Convention Article 16 to provide an update amendment, guideline and recommendation of an “Internationally Standardized and Recognized System of Names and Numbers”.  The “Harmonized Commodity Description and Coding System”, abbreviated as “HS”, … Read More