This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
Business Welcomes US Review Of Andean Trade Preferences,
by Leroy Baker, Tax-News.com, New York
Monday, July 06, 2009
Business and trade organizations representing some of the largest US multinationals
have welcomed the Obama administration’s review of country eligibility for
trade preferences under the Andean Trade Preference Act (ATPA).
As a result of the review of ATPA, the administration has declined to extend
preferences for Bolivia and put Ecuador on notice that preferences may not be
extended again unless long-standing rule of law issues are addressed.
“These trade preferences are a privilege, not a right,” commented
Myron Brilliant, the American Chamber of Commerce’s senior vice president
for International Affairs. “Congress established clear eligibility criteria
for the Andean countries to receive duty-free access to the US market under
the ATPA, including respect for the rule of law and fair treatment of US companies.
Colombia and Peru have easily met these criteria, but US investors have faced
an increasingly hostile environment in Ecuador and Bolivia.”
The Andean Trade Preference Act was enacted in December 1991, to help
four Andean countries (Bolivia, Colombia, Ecuador, and Peru) in their fight
against drug production and trafficking by expanding their economic alternatives.
The Andean Trade Promotion and Drug Eradication Act, enacted on August
6, 2002, renewed and amended the ATPA to provide duty-free treatment for certain
products previously excluded under the ATPA. The benefits are subject to the
countries meeting the program's eligibility criteria.
Congress last year extended ATPA preferences for Colombia and Peru through
December 31, 2009, while establishing a mid-year review of the eligibility of
Bolivia and Ecuador due to mounting complaints about the deteriorating treatment
of US investors.
Bolivia is currently not receiving benefits under the ATPA program after then
President George W. Bush suspended Bolivia’s designation as a beneficiary
country in November 2008, citing the country’s failure to meet eligibility criteria in
the area of counter-narcotics cooperation.
“We look forward to the day when Bolivia and Ecuador are prepared to
move forward to a mature, reciprocal trading relationship in similar fashion
to Peru and Colombia,” added Brilliant, “As of now, that day seems
distant.”
The National Foreign Trade Council (NFTC) also commended the administration
for acknowledging the difficulties American investors face in Ecuador in its
decision to extend trade preferences under ATPA.
“Recent experience has shown that American companies face significant
challenges there in terms of rule of law and political interference in the judicial
process, and we expect the administration to continue to monitor developments
there carefully,” NFTC President Bill Reinsch stated.
“ATPA is an important tool to promote economic development and growth
within the hemisphere, but to ensure that the system remains fair and mutually
beneficial, our trading partners must demonstrate a commitment to abiding by
the rules and refrain from interfering in judicial processes,” Reinsch
concluded.
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
Advertising & Marketing
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising,
sponsorship and marketing opportunities:
Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Could your corporate web-site or newsletter benefit
from incorporating regularly updated news and content
tailored to serve your clients' interests? We can provide
a variety of maintenance-free news and content solutions
that can be seamlessly integrated and dynamically delivered:
Click here for a brief introduction
to RSS and instructions on how to get the Tax-News feed.
IMPORTANT NOTICE: THE LOWTAX NETWORK has
taken reasonable care in sourcing and presenting the information contained on
this site, but accepts no responsibility for any financial or other loss or damage
that may result from its use. In particular, users of the site are advised to
take appropriate professional advice before committing themselves to involvement
in offshore jurisdictions, offshore trusts or offshore investments. All materials
on this site copyright THE LOWTAX NETWORK 1999 to 2010. Contact
us for further information.
TAX-NEWS.COM
Free Tax-News Feed