Russia starts tax free system with a pilot project

April 23, 2018 10:29 amComments Off on Russia starts tax free system with a pilot project
Russia starts tax free system with a pilot project

Russia starts working on tax free system with a pilot project. The tax-free system began operating in Moscow and St Petersburg on April 12. From April 13th, the refund of paid VAT can received by foreigners in Sochi as well. The tax-free system allows foreigners to refund VAT on purchases made abroad when they leave the country. This concerns the taxes included in the price of each product, such as […]

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The EU and Mexico modernize their free trade agreement

9:53 amComments Off on The EU and Mexico modernize their free trade agreement
The EU and Mexico modernize their free trade agreement

The EU and Mexico reached a general agreement in Brussels on the modernization of the free trade agreement, which was signed in 2000. “Now our negotiators will continue to work on resolving the remaining technical issues and drafting the full legal text”, said in a joint statement signed by European Commissioner for Trade Cecilia Malmstrom and the Mexican Economy Minister Ildefonso Guajardo Villarreal. The two sides hoped to reach an […]

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Japanese exports rose by 2.1% in March

April 18, 2018 7:22 pmComments Off on Japanese exports rose by 2.1% in March
Japanese exports rose by 2.1% in March

Japanese exports rose by 2.1% yoy in March to 7.38 trillion JPY (68.9 billion USD). Thus, for the 16th consecutive month, Japan’s exports are rising due to strong demand from China. The imports declined by 0.6% compared to the same month a year earlier to 6.58 trillion JPY, leading to a trade surplus of 797.3 billion JPY, according to a preliminary report by the Finance Ministry of Japan. The exports […]

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Eurozone trade surplus expanded in February 2018

April 17, 2018 1:24 pmComments Off on Eurozone trade surplus expanded in February 2018
Eurozone trade surplus expanded in February 2018

Eurozone trade surplus expanded in February 2018 to 18.9 billion EUR. By comparison, in February 2017 it was 23.8 billion EUR. Single currency countries have exported goods to the rest of the world (including other non-euro area EU members) for 177.5 billion EUR, up 3% on an annual basis. At the same time, imports for February amounted to 158.6 billion EUR, 1.5% more than in February 2017. The intra-Eurozone trade […]

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China warned for counter measures against new US duties

April 3, 2018 8:19 amComments Off on China warned for counter measures against new US duties
China warned for counter measures against new US duties

Authorities in Beijing will take countermeasures at “the same ratio” and scale if the US imposes more duties on Chinese goods. This was stated by the Chinese ambassador to Washington, further stirring worries about a possible trade war. His comment was made at the start of the week that the US authorities are expected to announce the introduction of customs duties on Chinese goods worth up to 60 billion USD. […]

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