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Malaysia: Audit Framework for Goods and Services Tax Issued

(Oct. 17, 2016) The Royal Malaysian Customs Department has recently placed on its website a document outlining auditing procedures for the goods and services tax (GST). The Audit Framework was issued on June 20, 2016, and is designed to make audits systematic, transparent, and fair. (Janice Loke, Malaysia: GST Audit Framework Published, TAX NEWS SERVICE […]

Iceland/European Union: Reduction in Import Duties, Increase in Quotas for Agricultural Products

(Oct. 20, 2015) On September 17, 2015, Iceland’s government and the European Union agreed on new terms for agricultural trade. (Press Release, EU and Iceland Strike Deal to Protect Geographical Indications and Enhance Trade for Agricultural and Food Products (Sept. 18, 2015) EUROPA.) Under the new agreement, Iceland will reduce the tariffs on agricultural products […]

European Union: New Rules on the Generalized System of Preferences

(Jan. 16, 2014) On January 1, 2015, a revised Generalized System of Preferences (GSP) came into force in the European Union. The GSP, originally established in 1971, basically determines which countries will pay less or no duty when exporting their products to the EU. (European Commission, Memo, Revised EU Trade Scheme to Help Developing Countries […]

Economic Community of West African States: Single Customs Tariff Agreement

(Nov. 15, 2013) On October 25, 2013, the nations of the Economic Community of West African States (ECOWAS), a 15-country regional cooperative bloc, agreed to establish a single customs tariff system. (ECOWAS Member States, ECOWAS website (last visited Nov. 8, 2013); West African Bloc Moves Further Towards Regional Economic Integration, ALLAFRICA.COM (Oct. 26, 2013).) According […]