India soars high
A new wave of reforms have been launched by the government under several new campaigns. Campaigns like Make in India, Digital India, Skill India and Start-up India are pushing the economy for a change by…
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Latin American fiscal weakness and lack of ‘tax culture’ addressed in ECLAC forum
Evasion is one of the main weaknesses of the tax systems in the Latin America and the Caribbean economies, accounting for 320 billion dollars in 2014 – according to the Fiscal Panorama of Latin America…
China Auto Regulatory Trends 2016: New-Energy, Materials Restrictions, Recalls and Emissions Figure Prominently
China has launched or announced a significant number of regulatory initiatives in the automotive sector over the first months of 2016. I have selected a number of regulatory initiatives representing such trends, below, from my…
NAFTA Supply Chains Show Signs of Softening
The value of U.S.-Canada freight totaled $45.0 billion in December 2015, which was down 15.2 percent annually as all modes of transportation carried a lower value of U.S.-Canada freight annually. The Department of Transportation’s Bureau…
Who is Killing American Manufacturing?
In the week before Valentine’s Day, United Technologies expressed its love for its devoted Indiana employees, workers whose labor had kept the corporation profitable, by informing 2,100 of them at two facilities that it was…
Thailand: New Work Permit Policy for ASEAN Workers
In this GMS Flash Alert we discuss recent changes from the Thai immigration authorities dealing with relaxed work permit rules for workers from ASEAN member countries and ban periods for foreigners who have over-stayed in…
Hong Kong proposes changes to law on employee reinstatement claims
Hong Kong proposes to amend the Employment Ordinance by removing the pre-requisite requirement for an employer to agree to an order reinstating or re-engaging an employee who has been dismissed without any valid reason in…
EU Anti-Tax Avoidance Package goes much further than stewardship of the implementation of the OECD’s BEPS measures
Commenting on the new proposals to tackle corporate tax avoidance announced by the European Commission yesterday, Robin Walduck, Tax Partner at KPMG in the UK said: “The EU’s Anti-Tax Avoidance Package provides a considerable amount…
Mexico: Extension granted to nonresidents operating under maquiladora shelter regime
Mexico’s Miscellaneous Tax Rules for 2016, which were published in the official gazette on 23 December 2015 and apply as from 1 January 2016, include changes to the rules governing nonresidents that carry out operations…
Top 20 Facts About (U.S.) Manufacturing
In the most recent data, manufacturers contributed $2.17 trillion to the U.S. economy. This figure has risen since the second quarter of 2009, when manufacturers contributed $1.70 trillion. Over that same time frame, value-added output…