Tariff and Tax Primer

Jan 15, 2011  |  Articles

Trade Agreements: Tariff and Tax in International Trade

Trade Agreements (1) MFN – Most Favored Nation FTA – Free Trade Agreement Other Applications of FTA MFN The most-favored-nation (MFN) clause binds a country to apply to its partner country any lower rate of import duties that it may […]

Jan 15, 2011  |  Articles

Harmonized Tariff Schedules: Tariff and Tax in International Trade

Harmonized Tariff Schedules International trade has been facilitated by the use of harmonized tariff schedules. Trading countries have agreed on the classification of goods, by use and standardization of the chapter and sub-chapter definitions of traded goods. Each country maintains […]

Jan 15, 2011  |  Articles

Tariffs: Tariff and Tax in International Trade

Tariffs Tariffs Transit Duties Export Duties Import Duties Tariffs (1) A tariff or customs duty is a tax levied upon goods as they cross national boundaries, usually by the government of the importing country. The words tariff, duty, and customs […]

Jan 15, 2011  |  Articles

Taxes: Tariff and Tax in International Trade

Taxes Ad Valorem Supplemental Taxes Value-added Summary Ad Valorem (1) Any tax imposed on the basis of the monetary value of the taxed item. Literally the term means “according to value.” Traditionally, most customs and excises had “specific” rates; the […]

Jan 15, 2011  |  Articles

Glossary of Terms: Tariff and Tax in International Trade

Glossary of Terms Common Market Other Taxes Customs Transit Retaliatory Tariffs Customs Union Rules of Origin Documentary Tax Surtaxes and Tariff Surcharges Duty Types Tariff Economic Union Treaties Free Trade Agreement Value Added Tax (VAT) Common Market Common Market amalgamates […]

Jan 15, 2011  |  Articles

Introduction: Tariff and Tax in International Trade

Introduction This resource is provided to be used as a basic learning tool for personnel new to the international procurement function in a firm. The purpose for the learning included in the document is to allow an in depth snapshot […]

Jan 15, 2011  |  Articles

List of Trade Unions: Tariff and Tax in International Trade

List of Trade Unions (1) Benelux Economic Union (Benelux) Note – acronym from Belgium, Netherlands, and Luxembourg Established 3 February 1958; effective – 1 November 1960 Aim to develop closer economic cooperation and integration Members (3) Belgium, Luxembourg, Netherlands Big […]

Jan 15, 2011  |  Articles

List of International Trade Agreements: Tariff and Tax in International Trade

List of International Trade Agreements (1) p. African, Caribbean, and Pacific Group of States (ACP Group) Established 6 June 1975 Aim to manage their preferential economic and aid relationship with the EU Members (77) Angola, Antigua and Barbuda, The Bahamas, […]

Jan 15, 2011  |  Articles

Additional Readings on Taxation: Tariff and Tax in International Trade

Additional Readings on Taxation Standard sources on government finance More advanced works Useful works on the historical development of fiscal thought Academic thinking about tax policy Overviews of tax systems Specifics of taxation in developing countries Taxation of income from […]

Jan 15, 2011  |  Articles

Trade Prohibitions: Tariff and Tax in International Trade

Trade Prohibitions (1) Prohibited trading partners The Office of Foreign Assets Control (“OFAC”) of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries, […]