Argentina updated its export tax regime this month for certain agricultural products, according to a U.S. Department of Agriculture Foreign Agricultural Service report released March 9. The changes, announced March 4, increased export tax rates from 30% to 33% for soybeans and soybean products, the USDA said, while wheat, corn and sorghum export rates remained at 12%. Other goods, including corn flour, paddy rice, peanuts and sunflower seeds saw decreases in their export tax rates.
The government of Canada issued the following trade-related notices as of March 9 (note that some may also be given separate headlines):
Ecuador recently renewed its tariff exemptions for imports of soybean meal and wheat from all origins, according to a U.S. Department of Agriculture Foreign Agricultural Service report released March 2. The exemptions took effect Jan. 1 and will last for five years, the agency said. The extension marks the first time Ecuador has announced a five-year renewal, the agency said, adding that previous extensions have covered only two- to three-year periods.
Costa Rica introduced an interest rate for late or incorrect payments on taxes made to the country’s customs authority, according to a March 5 KPMG alert. The new rate will be 12.2% and will take effect April 1. KPMG said the rate also applies to “interest in the case of fines imposed by the National Customs Service.”
The government of Canada issued the following trade-related notices as of March 6 (note that some may also be given separate headlines):
Global Affairs Canada is seeking comment on the “Origin Quota commitment for Vehicles under the Comprehensive Economic Trade Agreement (CETA) with the European Union,” it said in a notice. Comments are due April 22.
The government of Canada issued the following trade-related notices as of Mar. 4 (note that some may also be given separate headlines):
Brazil and Paraguay signed an agreement in February that is expected to strengthen trade and customs cooperation, according to a Feb. 28 KPMG post. The deal calls for both countries to grant “free trade” treatment for certain auto products, the post said, and provides rules of origin for auto goods and “preferential access conditions.” The deal must still be ratified in both countries.
The Dominican Republic introduced a new method of calculating customs value when imports of goods are made under a distribution agreement or “between related companies,” according to a Feb. 28 KPMG post. The country’s customs authority will first evaluate information contained in the single customs declaration along with a tax return relating to payments made abroad, the post said. The import will be assessed by Dominican Customs “specifically to include the value of royalties with the cost, insurance, and freight of the merchandise.” The imported merchandise will then be revalued and taxes and customs tariffs are resettled, KPMG said.
The government of Canada issued the following trade-related notices as of Feb. 28 (note that some may also be given separate headlines):