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Brazil Provides New Fiscal Stimulus 5/24/2012 The Brazilian government has announced a package of tax measures worth around USD1bn to stimulate growth in key economic sectors, to ensure the nation meets this year's growth target of 4.5%.
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CEPA Boosts Hong Kong's Industries 5/24/2012 The China/Hong Kong Closer Economic Partnership Arrangement services liberalization measures have boosted the development of Hong Kong’s traditional industries, Financial Secretary John Tsang says.
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US Imposes Anti-Dumping Duties On Chinese Solar Cells 5/22/2012 Despite concerns that its decision may raise prices and harm the United States
alternative energy sector, the Department of Commerce has announced
a preliminary determination to impose antidumping duties on imports of crystalline
silicon photovoltaic cells, whether or not assembled into solar cells, from China.
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Dubai Economy Expected To Exceed Forecasts 5/21/2012 Dubai's Economic Council believes that the Emirate will achieve economic growth above the estimates of international institutions, with strong performance anticipated in many of its key sectors in 2012.
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China, Switzerland Make Progress In FTA Talks 5/16/2012 The latest round of negotiations on the proposed free trade agreement between
China and Switzerland, which was held in Beijing on May 8-10, is said to
have reached some consensus and made significant progress.
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Democrats Introduce In-Sourcing Bill Into US Congress 5/15/2012 Democrats in the Senate and House of Representatives have introduced into the
United States Congress the main tax measure out of President Barack Obama’s
recently-announced “To Do List”, to provide a tax credit for companies
over the cost of moving operations back to the country.
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USTR Urges Extension Of AGOA's Textile Provision 5/11/2012 The United States Trade Representative has confirmed that the Administration
is committed to boosting trade with African nations through the African Growth
and Opportunity Act and, in that respect, renewal of its Third-Country
Fabric provision is seen as crucial.
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Obama Presents Tax 'To Do List' To Congress 5/10/2012 President Barack Obama has used remarks at the State University of New York in
Albany to present a ‘To Do List’ of tax measures that, in his opinion,
the United States Congress should pass to increase employment and economic growth.
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China Introduces CorporateTax Breaks For IT 5/7/2012 To encourage innovation in information technology and industrial technical
upgrading, China’s State Administration of Taxation
has announced preferential corporate income taxes for producers of software and
integrated circuits.
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Hong Kong Will Not Change Depreciation Rules 5/3/2012 In reply to a question in the Legislative Council, Hong Kong’s Secretary
for Commerce and Economic Development, Gregory So, said that the government could
not permit Hong Kong enterprises with import processing subsidiaries in Mainland
China to submit claims for depreciation for machinery used there.
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Canada Highlights Trade Support For Manufacturing 5/2/2012 Speaking at a manufacturing summit in Ontario, Canada’s Minister of Finance
Jim Flaherty has highlighted the government’s contributions to helping build
a strong domestic manufacturing sector through investment incentives and reduced
trade tariffs.
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Canada-EU Trade Talks Entering Final Straight 4/26/2012 An ambitious Canada-European Union trade agreement will benefit businesses and workers, ministers from Canada and Denmark said after they met to discuss the ongoing negotiations.
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Canada, Costa Rica To Expand FTA 4/25/2012 Canada and Costa Rica have concluded a third round of talks on the expansion and modernization of their existing free trade agreement.
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St Kitts, Brazil To Sign Free Trade Pact 4/25/2012 The government of Saint Kitts and Nevis has received notification
from Brazil that it is ready to sign the Partial Scope Agreement on trade that the two territories
have been negotiating for a year.
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US, Colombia FTA Effective In May 4/18/2012 The Presidents of the United States and Colombia announced at a joint
press conference in Cartagena that a landmark Free Trade Agreement between the two nations will become effective
on May 15, 2012, gradually exempting the vast majority of goods from bilateral trade taxes.
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Study Sresses Tax Contribution Of US Auto Industry 4/17/2012 A study from the Center for Automotive Research has highlighted the 'significant' contribution that the auto industry now provides to state and federal tax revenues, as
it makes a recovery from the recent economic recession.
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US Report Highlights Role of IP in Creating Jobs, Economic Growth 4/13/2012 The Commerce Department has released a comprehensive report, prepared by its Economics
and Statistics Administration and United States Patent and Trademark Office,
and entitled “Intellectual Property and the US Economy: Industries in Focus”,
which focuses on the impact of intellectual property on the American economy
and job creation.
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Brazil Prepares Payroll Tax Cuts To Prop Up Economy 4/6/2012 Brazilian President Dilma Rousseff has announced a number of measures aimed at
boosting economic growth in ailing sectors of the economy, including through payroll
tax concessions.
|
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Indian FinMin To Meet With Jewellers Over Tax Row 4/5/2012 India's Finance Ministry is to meet with representatives of the jewellery manufacturing industry following a row over a new excise duty.
|
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ATO Reviews Effective Life Determination Process 4/4/2012 The Australian Taxation Office has launched a review of assets used in the flour and starch manufacturing industry, with a view to making new 'effective life' determinations.
|
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Gordhan Reviews South African Tax Season 4/3/2012 South Africa’s Minister of Finance, Pravin Gordhan, has disclosed the preliminary
tax collection results of the South African Revenue Service for the 2011/12
fiscal year, and introduced its new five-year Compliance Programme.
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French Research Credit Key For Foreign Investors 4/3/2012 A recent report on 2011 foreign investment in France, published by the French agency for international investment, has shown that France remains an attractive destination for foreign investors, mainly attributable to the availability of the popular consolidated research tax credit.
|
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Thailand Boosts Tax Incentives For Flood-Hit Companies 3/29/2012 In addition to other emergency measures to help companies and entrepreneurs affected
by Thailand’s recent floods, the Board of Investment will provide
further corporate income tax exemptions for businesses in the badly-affected Pathum
Thani and Ayutthaya provinces.
|
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New Zealand, Malaysia Discuss TPP 3/26/2012 New Zealand’s trade minister has been discussing the ongoing Trans Pacific Partnership negotiations as part of a Malaysian trade visit.
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Argentina Eyes Protectionist Trade Measures 3/26/2012 The Argentinian government is set to announce increases to import duties on 100 items, and will seek to revise a long-standing vehicle trade pact with Mexico - mirroring an earlier move by Brazil - as part of a package of measures to mitigate the nation's growing trade deficit.
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Germany Targets Lost Revenues In Textile Industry 3/23/2012 The German finance ministry has recently announced that it has concluded a
joint agreement with the country’s social partners in the textile industry, to combat illicit work and illegal employment, thereby improving the
situation in the labour market and securing much-needed tax revenues for
the state.
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US Explains Anti-Dumping Investigative Process 3/23/2012 As the Department of Commerce is scheduled to release shortly a series
of determinations regarding antidumping duties, when a foreign company sells
a product in the United States at less than fair value, and countervailing duties to offset the benefits of foreign government subsidies, it has issued an
explanation of how its investigative process works in that regard.
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Indian Budget Signals Further Reform Delays 3/20/2012 India’s 2012 Budget has been unveiled, including a raft of tax measures designed to signal progress in the implementation of a direct tax code and a goods and services tax regime.
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Brazil, Mexico Clash Over Auto Agreement 3/19/2012 The Mexican government has resisted the Brazilian government's request to significantly
limit car imports for the next three years in talks initiated after Brazil threatened
to walk away from a long-standing agreement that provides preferential tax treatment
for bilateral automobile trade.
|
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IoM Plans Clean Tech Promotional Tour 3/16/2012 The Isle of Man's Department of Economic Development has announced that it
will be heading a trade delegation of Isle of Man 'Clean Tech' companies to the
UK, Europe and the USA, in the latter part of this year.
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European Aviation Fears EU ETS Backlash 3/19/2012 In joint letters, the heads of some of Europe's major airlines and aviation engine manufacturers have called upon European Union leaders to take action and stop an escalating trade conflict with China and other countries opposing the European Emissions Trading Scheme.
|
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South Korea-US FTA Comes Into Effect 3/16/2012 The long-delayed South Korea-United States free trade agreement,
which was originally signed in 2007, entered into force on March 15, 2012.
|
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CII Calls On India To Cut Coal Duty 3/6/2012 The Indian government should consider a reduction in customs duty on non-coking coal, the Confederation of Indian Industry has said.
|
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International Patent Filings Set New Record In 2011 3/7/2012 Despite difficult global economic conditions, international patent filings under
the World Intellectual Property Organization-administered Patent Cooperation
Treaty set a new record in 2011 with 181,900 applications – up 10.7% on 2010 and the fastest growth since 2005.
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Indonesia Mulls Tax Breaks For 'Green' Car Makers 3/6/2012 Indonesia’s Minister of Finance, Agus D.W. Martowardojo, has disclosed that
his ministry is looking at the granting of tax incentives to encourage the production
of environmentally-friendly vehicles in the country.
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Japan, Peru EPA In Force 3/6/2012 Japan and Peru have ratified the Economic Partnership Agreement signed between
the two nations in January 2012, so that the agreement, akin to a Free Trade
Agreement, entered into force on March 1, 2012.
|
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China To Expand VAT Pilot To Beijing 3/5/2012 Following the beginning of China’s pilot scheme to replace the existing
business tax on the country’s service sector with value-added tax in Shanghai on January 1 this year, it has been confirmed that it will
be extended to Beijing, commencing on July 1.
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US Study Attacks Chinese 'Innovation Mercantilism' 3/2/2012 A paper issued by the Information Technology and Innovation Foundation in Washington,
DC, entitled ‘Enough is Enough: Confronting Chinese Innovation Mercantilism’,
attacks the seeking by China of not merely competitive advantage, but absolute
advantage in a wide range of industries, especially advanced technology products
and services.
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WTO Announces Progress On Trade Disputes 2/28/2012 The World Trade Organization's Dispute Settlement Body at its meeting
on February 22, 2012, established a panel to examine US anti-dumping measures
on Korean steel products, and adopted a report in respect of China's export restraints
on certain raw materials.
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Japanese TPP Negotiations Depends On US Go-Ahead 2/28/2012 While the Japanese government has now concluded a first round of talks with each
of the nine countries that are presently in negotiations for an extension to the
Trans-Pacific Partnership, it is becoming apparent that it
will be up to the United States to make the final decision whether to allow Japan
to join those negotiations.
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South Africa's Carbon Tax In Effect From 2013 2/27/2012 Within a white paper issued in October last year, the South African government
reviewed its climate change policy, and the Minister of Finance Pravin Gordhan
has now, in his 2012 Budget, provided the proposed design for a carbon emissions
tax.
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Obama Proposes Corporate Tax Cut 2/24/2012 The United States Treasury has issued a report presenting President Barack Obama’s
revenue-neutral proposals for corporate tax reform, cutting the tax rate to 28%
from the current 35% rate, but also closing loopholes used by corporations to reduce
their tax burdens.
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Brazil Rethinks Vehicle Import Tax Hike 2/20/2012 The Brazilian government has confirmed its intention to soften
its controversial protectionist tax hike on vehicles comprised mainly
of foreign components, in place since November 15, 2011.
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US, Canada Consult on TPP 2/16/2012 It has been disclosed by the Office of the United States Trade Representative
that the United States and Canada have held a senior-level bilateral consultation
on Canada’s interest in joining the Trans-Pacific Partnership negotiations.
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Obama Produces Election Budget 2/15/2012 United States President Barack Obama has announced his proposed budget for the
next fiscal year beginning on October 1, which, with over USD1.5bn in net new
revenue from taxes on the wealthy and more spending on job creation and education,
will provide his platform for re-election.
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Canada, Costa Rica Hold Talks To Improve FTA 2/14/2012 Canada and Costa Rica have concluded a second round of talks on the improvement of their existing free trade agreement.
|
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Canada, China Conclude FIPA Negotiations 2/13/2012 Canadian Prime Minister Stephen Harper has announced the conclusion of negotiations toward a Foreign Investment Promotion and Protection Agreement between Canada and China.
|
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First Jersey Firm Lists On NYSE 2/10/2012 Delphi Automotive PLC has become the first Jersey company to have its shares directly
listed on the New York Shock Exchange, having been advised on its initial public
offering by Channel Islands law firm Carey Olsen.
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Korean Opposition Promises To Axe KORUS FTA 2/13/2012 South Korea’s main opposition Democratic Party has confirmed that it
would cancel the free trade agreement with the United States if it became
the majority party in parliamentary elections due in April this year.
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Brazil May Pull Out Of Auto Trade Deal With Mexico 2/8/2012 The Mexican government is to meet for negotiations with Brazil after the latter nation threatened to call an end to a trade agreement which allows Mexican car exporters tariff-free access to the Brazilian auto market.
|
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WTO Members Approve Pakistan Trade Aid 2/7/2012 World Trade Organization member states have approved trade aid to be granted on an exceptional basis to Pakistan by the European Union to support the country in its recovery following massive floods in 2010.
|
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Indonesia, Pakistan Sign Expanded Trade Deal 2/6/2012 In an effort to increase economic cooperation between the two countries, and as
a possible forerunner to a full bilateral free trade agreement, Indonesia
and Pakistan signed a preferential trade agreement on February 3 in Jakarta.
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WTO Finds Against China’s Raw Materials Export Restraints 2/2/2012 A World Trade Organization Appellate Body has upheld a previous panel's
ruling, made in July last year, against the duties, quotas, and price and licensing
requirements, that China imposes on its exports of raw materials.
|
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US Senate Studies Options On 'Tax Extenders' 2/2/2012 During a recent hearing, the United States Senate Committee on Finance looked
at the group of tax provisions requiring frequent annual renewal, commonly called
the 'tax extenders', in the context of seeking longer term solutions
and, thereby, providing tax certainty.
|
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Ireland Launches Immigrant Investor Programme 1/26/2012 The Irish government is to introduce two major new immigration initiatives aimed at encouraging non-European migrant entrepreneurs and investors.
|
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Taiwan Eases Expat Worker Rules 1/25/2012 A revision to the Employment Services Act passed by Taiwan’s parliament
has not only extended the maximum number of years that foreigners may work in
Taiwan from nine to twelve years, but also lowered the fine for late payment of
their employment stabilization fees.
|
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South Africa Introduces Waste Tyre Levy 1/20/2012 Under South Africa’s new Integrated Industry Waste Tyre Management Plan,
a recycling levy will be charged on the purchase price of new tyres, with effect
from February 1, 2012.
|
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IoM Showcased In Korea 1/17/2012 The Isle of Man is to receive welcome international promotion as a result of a
documentary being made by leading Korean broadcaster Korean Broadcasting System
(KBS) with a focus on the island's economy and investment opportunities.
|
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Raspberry Pi Balks At UK Tax Regime 1/17/2012 The UK's tax regime makes it far too expensive for an electronics company to manufacture in the country, the computer company Raspberry Pi has said, looking to Taiwan and China instead to produce its goods.
|
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Obama To Propose 'Insourcing' Tax Breaks 1/13/2012 United States President Barack Obama has announced that he will put forward new tax proposals in the coming weeks designed to reward companies that choose to invest or bring back jobs to the United States, and to eliminate tax advantages for companies moving jobs overseas.
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Argentina Hikes Import Taxes On Luxury Vehicles 1/11/2012 The Argentine government has announced a change to the country's customs duty
regime to introduce higher taxes on imported vehicles and motorbikes, imitating Brazil's earlier decision to introduce protectionist tax measures to support its domestic car manufacturing industry.
|
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Malta, China Pledge To Support Economic Alliance 1/9/2012 Maltese Deputy Prime Minister Tonio Borg has lauded the dramatic increase in bilateral
economic activity with China as the two countries look to enhance their business
relationship.
|
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Mercosur Announces Protectionist Import Duty Hikes 1/4/2012 The South American trade bloc, Mercosur is to slap the maximum rate imposable, 35%, on the import of one hundred additional goods, likely on a temporary basis until December 2014, Brazil's
Minister for Finance has announced.
|
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Flaherty Sets Out 2012 Canadian Tax Reliefs 1/4/2012 Jim Flaherty, Canadian Finance Minister, in a speech on December 29, 2011, highlighted tax reliefs coming into effect in 2012.
|
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USTR Issues GSP, AGOA Annual Reviews 1/3/2012 United States Trade Representative Ron Kirk has announced the outcome of
the 2010 Annual Review under the Generalized System of Preferences programme,
as well as the results of the annual African Growth and Opportunity Act Eligibility Review.
|
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Record Export Year For Ireland 12/29/2011 Irish firms experienced record levels of exports in 2011 and are now using a renewed confidence to aggressively target opportunities in international markets, according to the latest figures from Enterprise Ireland.
|
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Barbados Seeks Prosperity Through Economic Diversification 12/29/2011 Barbados' Former Prime Minister and the nation's ambassador to China, Lloyd Erskine
Sandiford has warned the island that the days of preferential market access are
over, and Barbados must now urgently revamp its stance and actions to diversify
the economy, and in particular enhance its share of world trade.
|
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Thailand Considers Further Tax Relief For Flood Victims 12/26/2011 Thailand's Finance Minister, Thirachai Phuvanatnaranubala, has disclosed that
further tax relief, for both individuals and companies affected by the country’s
recent floods, will be proposed for Cabinet approval shortly.
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Canadian Budget Measures Enacted 12/20/2011 Canadian Finance Minister Jim Flaherty has announced that several tax measures announced as part of the 2011 Budget in June have received Royal Assent.
|
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Progress Made In Canada, India FTA Talks 12/16/2011 A third round of talks towards a free trade agreement between Canada and India have taken place, with a view to tripling bilateral trade within the next four years.
|
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Nigerian 2012 Budget For 'Jobs And Growth' 12/15/2011 Nigeria’s President Goodluck Jonathan, during his announcement of the Federal
Government’s 2012 Budget proposals on December 13 to the National Assembly
in Abuja, said that their prime objective was, 'not only to create jobs,
but also to lay a solid foundation for sustainable economic growth'.
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Japan Agrees On 2012 Tax Proposals 12/13/2011 After reaching an agreement with its colleagues in the ruling Democratic Party
of Japan, the Japanese government is readying its tax proposals for the next
fiscal year from April 2012.
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Thailand Confirms Import Tariff Exemptions 11/30/2011 To help businesses with plants damaged by the floods in the country, Thailand’s
government has approved the waiving of duties on their imports of machinery and
spare parts, until the end of June 2012.
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President Lee Signs Bills To Implement KORUS FTA 12/1/2011 Despite continued opposition protests in South Korea, President Lee Myung-bak has signed
the fourteen bills that will enable the implementation by his government of the
South Korea–United States free trade agreement.
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IoM Showcases Clean Tech Sector Progress 11/30/2011 The Isle of Man government has announced that it is in negotiations towards establishing a partnership with Japanese-British organization UBrainTV, to further promote the island as a centre of excellence for Clean Tech product development.
|
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Canada Axes Tariffs For Manufacturers 11/30/2011 Canada's Minister of Finance, Jim Flaherty, has announced that a further 70 tariff items are being eliminated to cut the operational costs of Canadian manufacturers by CAD32m (USD31m) annually, as part of the government's efforts to lower taxes and trade barriers for business.
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South Korea To Expand Preferential Tariffs 11/29/2011 South Korea’s Ministry of Strategy and Finance has announced a further expansion
of its tariff exemption programme for products from least-developed countries, with effect from January 1 next year.
|
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Indonesia Increases Cigarette Taxes 11/28/2011 With effect from January 1, 2012, the Indonesian government has decided to increase
the excise tax on cigarettes next year by an overall 15%, with the intention,
it was said, both to discourage smoking and to increase tax revenue.
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WTO Members Resisting Protectionism 11/24/2011 The World Trade Organisation has published its annual report on developments in
the international trading environment, which comprehensively tracks measures implemented by nations over the past twelve months
that restrict or liberalize global trade.
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US, China Conclude Joint Commerce and Trade Meeting 11/24/2011 American representatives at the 22nd session of the United States-China Joint
Commission on Commerce and Trade, held in Chengdu, China, announced meaningful
progress on key elements of the bilateral trade relationship, but also underscored
that much more work remains to be done to open China’s market to US exports
and investment.
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China Confirms VAT Pilot In Shanghai 11/23/2011 China’s Ministry of Finance and the State Administration of Taxation have
confirmed that, from January 1, 2012, the pilot scheme to replace the existing
business tax on the country’s service sector with value added tax will start in Shanghai.
|
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Taiwan Limits Income Tax Exemption On Royalties 11/22/2011 Taiwan’s National Tax Administration has confirmed that the income
tax exemption for royalties paid to foreign enterprises will be limited to the
extent of their domestic use.
|
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Canada Legislates For Panama, Jordan FTAs 11/21/2011 Canada's implementation of its free trade agreements with Jordan and Panama will result in expanded opportunities in priority regions, benefiting the country's business and workers, the minister in charge has said.
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Russian WTO Accession Terms Published 11/16/2011 The World Trade Organization has published comprehensive details of the tax and trade commitments made
by Russia as part of its accession bid, due to be deliberated upon at the WTO Ministerial Plenary in December at which Russia is tipped to be granted membership to the global trade
body.
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TPP Participants Reach Outline Agreement 11/16/2011 Following talks on the sidelines of the Asia-Pacific Economic Cooperation Leaders Meeting in Honolulu, the countries negotiating the proposed extension
to the Trans-Pacific Partnership - Australia, Brunei Darussalam, Chile,
Malaysia, New Zealand, Peru, Singapore, the United States and Vietnam –
announced they had reached the broad outlines of an agreement.
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Australia Passes Clean Energy Legislation 11/14/2011 On November 8, the multiple Bills comprising the Clean Energy legislative
package were passed into law by the Australian Senate, a package that will force about 500 of the country’s biggest polluters to pay
a levy of AUD23 (USD23) for each tonne of carbon dioxide they emit.
|
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Canada, Costa Rica Look At Improving FTA 11/9/2011 Negotiations have begun between Canada and Costa Rica on the proposed modernization of their existing free trade agreement, it has been announced.
|
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Japanese Car Makers Look For Lower Car Taxes 11/8/2011 The Japan Automobile Manufacturers Association organized a press conference
recently, together with automobile manufacturers, trade unions and dealer representatives,
to request the government to come to the industry’s aid by reducing car
taxation in the country.
|
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Czech Republic Launches New R And D Incentives 11/4/2011 The Czech government has announced a number of tax incentives for firms establishing
operations to engage in research and development in the Czech Republic.
|
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UK 'Business Friendliness' Declines 11/3/2011 More UK companies perceive the UK as less business-friendly than a year ago, particularly
as a result of new regulatory burdens introduced during 2011, according to a recent
report from the Institute of Chartered Accountants in England and Wales.
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Ireland Launches International Start-Up Fund 11/2/2011 The Irish government has launched a EUR10m International Start-Up Fund, aimed at encouraging overseas entrepreneurs to locate start-up businesses in Ireland.
|
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Brazil Court Suspends Auto Tax 10/24/2011 The tax hike proposed by the Brazilian government on the manufacture of foreign cars has been suspended. The Brazilian Supreme Court has ruled the planned tax increase unconstitutional due to its rapid implementation, with the President of the Supreme Court, Cezar Peluso calling it unlawful.
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Australian Business Urges Carbon Bill Changes 10/20/2011 The Australian Industry Group and the Business Council of Australia have written to all members of the Australian Parliament urging them to act in Australia’s long-term economic interest and amend the Clean Energy Future legislation to include essential safeguards to protect Australia’s competitiveness.
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Panel Urges Canada To Simplify Research Tax Credit 10/20/2011 With CAD5bn (USD4.95bn) offered at a federal level in research and development funding each year, Canada's government must implement a simplified and more focused approach to the aid, according to a new report that also argues changes to the tax credit system are needed.
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Political Problems Persist For KORUS FTA In Seoul 10/19/2011 South Korea’s main opposition Democratic Party remains implacably opposed
to the passing of the South Korea–United States free trade agreement through parliament, and is continuing to demand its renegotiation.
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Brazilian Car Import Tax Hike Concerns WTO Members 10/19/2011 Japan is said to be leading a chorus of protest at the World Trade Organization against a protectionist measure announced by Brazilian authorities in September to shield the nation's car manufacturing and car assembly industry from cheap foreign imports.
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Canada, EU Edge Closer To Trade Deal 10/19/2011 Canada and the European Union are holding a ninth round of talks on a free trade agreement, with the negotiations described by the Canadian government as the most significant trade initiative in fifteen years.
|
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Mauritian Exporters Seek Tax Incentives 10/14/2011 Hot on the heels of the Mauritius Employers’ Federation, the Mauritius
Export Association has now also submitted its pre-budget memorandum to
Mauritian Finance Minister Xavier-Luc Duval, in which it underlines the need to
introduce fiscal incentives for investment and training in the sector to improve
productivity.
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South Korea To Provide Electric Car Tax Breaks 10/14/2011 South Korea’s Ministry of Knowledge Economy has stated that the government
intends to offer tax incentives for buyers of electric cars, in an attempt to
increase further the country’s market for energy-efficient motor vehicles.
|
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Mexico Extends Tax Breaks For Export Companies 10/13/2011 Mexico’s President Felipe Calderón has announced the extension, to December 31, 2013, of the corporate tax breaks provided under the IMMEX scheme, which provides incentives for the country’s export companies.
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