|After the UK Brexit referendum of 23 June the implications on the political, economic and legal relations between the UK and the EU have been discussed from many angles. But what about...|
China’s new VAT regulations may significantly increase charges on China exports
According to Circular No. 37, while international shipping is not subject to VAT, logistics, and ancillary services such as shipping agents, freight forwarding, customs clearance, and warehousing are subject to a 6 per cent VAT (domestic shipping is subject to an 11 per cent VAT). Circular No. 37 also appears to repeal the “net calculation basis” provided under the previous business tax regime and the VAT pilot program, which allowed logistics service providers to deduct international freight from the taxable income.
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The Department of Energy (DOE) recently published its revised Part 810 Guidance on compliance with the amended Part 810 Regulations on nuclear export controls (10 C.F.R. Part 810). The 2015 ...24 June 2016
FinCEN Designates North Korea as a Jurisdiction of Primary Money Laundering Concern, Triggering Additional Due Diligence Requirements for Financial Institutions
Pursuant to the North Korea Sanctions and Policy Enhancement Act of 2016’s requirement that the Secretary of the Treasury determine whether North Korea is a jurisdiction of...16 June 2016