Month: February 2017

Feb 28

WebPort Global speeds up exports for Irish SMEs

Last year was one when Irish business was thrust onto a new level of uncertainty following the Brexit vote and, pending the triggering of Article 50 of the Lisbon Treaty, the UK’s withdrawal from the European Union by March 2019. Given the prospect of such an occurrence, the focus of Irish businesses working in new export markets has arguably become more heightened than at any point since joining the EU in 1973. To aid SMEs in their bid to grow Read Full Details…

Feb 28

WTO deal to cut red tape comes into force

GENEVA. — A global agreement to boost trade by cutting red tape and streamlining border checks came into force on Wednesday, promising a 0.5 percent lift to the world economy by 2030 even as it faces renewed protectionism from the United States. World Trade Organization Director General Roberto Azevedo hailed the start of the pact, which he said was the “biggest reform of global trade this century”. He also sought to play down potentially difficult trade issues with US President Read Full Details…

Feb 27

WTO’s Trade Facilitation Agreement enters into force

A major milestone for the global trading system was reached on February 22, 2017 when the first multilateral deal concluded in the 21-year-old history of the World Trade Organization (WTO) entered into force. In receiving four more ratifications for the Trade Facilitation Agreement (TFA), the WTO has obtained the two-thirds acceptance of the agreement from its 164 members needed to bring the TFA into force. Rwanda, Oman, Chad and Jordan submitted their instruments of acceptance to WTO Director-General, Mr Roberto Read Full Details…

Feb 01

Indirect Taxes Proposals Involving Change In Duty/Tax Rates: Customs & Excise Duty

PROPOSALS INVOLVING CHANGE IN DUTY / TAX RATES: CUSTOMS:   Commodity Rate of Duty   From To I. Incentivizing domestic value addition, ‘Make in India’ A. Reduction in Customs duty on inputs and raw materials to reduce costs Mineral fuels and Mineral oils 1. Liquefied Natural Gas BCD – 5% BCD – 2.5%     Chemicals & Petrochemicals 2. Medium Quality Terephthalic Acid (MTA) & Qualified Terephthalic Acid (QTA) BCD – 7.5% BCD – 5%     Metals 3. Nickel Read Full Details…

Feb 01

Highlights of Union Budget 2017-18

Budget Highlights (Key Features) Introduction In the last two and half years administration has moved from discretionary, favouritism based to system and transparency based Inflation brought under control. CPI-based inflation declined from 6% in July 2016 to 3.4% in December, 2016 Economy has moved on a high growth path. India’s Current Account Deficit declined from about 1% of GDP last year to 0.3% of GDP in the first half of2016-17. FDI grew 36% in H1 2016-17 over H1 2015-16, despite Read Full Details…