As they are no longer classified as ‘developing nations,’ the United States government announced on Monday that both Barbados and Antigua & Barbuda are to lose preferential trade status on their exports.
Under the scheme, goods and products from poorer states are subject to reduced tariffs and customs levies when exported to developed nations, with no obligation placed on the developing countries to reduce their own levies in return.
However, the two Caribbean countries have been re-designated as ‘high income’ states, and will therefore lose their preferential status from January 1, 2006.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com 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.
Write a comment