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THE EUROPEAN Union (EU) Council of Ministers today (December 5) adopted a money laundering blacklist, bringing widespread criticism because the listing – designed to prevent tax fraud and evasion – only covers countries outside the 28-nation bloc. Despite the European Commission screening 92 jurisdictions worldwide, the final list of non-cooperative jurisdictions in taxation matters only contains 17 jurisdictions: American Samoa, Bahrain, Barbados, Grenada, Guam (another US territory), South Korea, Macau (a China special administrative region), the Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad & Tobago, Tunisia and the United Arab Emirates (UAE).…

THE STRATEGY and business development director of global aviation and transport systems giant Thales predicts that a global set of comprehensive rules controlling unmanned aircraft could be in place by 2019. That would be the year of the next triennial assembly of the International Civil Aviation Organisation (ICAO), and allow enough time for expertise to be developed in countries such as the USA, Singapore, Australia, and the UK, that are leading on drone regulation.…

INTERNATIONAL specialists in exchanging aviation systems data are highlighting for the need for developing a comprehensive global guideline for rolling out SWIM (system wide information management), an international ATC conference has been told. Speaking to this week’s (December 11-15) GANIS (Global Air Navigation Industry Symposium) at the International Civil Aviation Organisation (ICAO) headquarters in Montréal, Canada, Alexander Pufahl, ICAO’s information management technical officer, declared: “It has to be a global system.…

OECD SAYS 49 JURISDICTIONS WILL AUTOMATICALLY EXCHANGE TAX INFORMATION THIS YEAR

THE IDENTITY of 49 jurisdictions that will automatically exchange tax information in 2017 under a global standard has been revealed by the Organisation for Economic Cooperation & Development (OECD).…

African clothing exporting countries are banking on rising costs in China and changing consumption patterns worldwide to attract buyers to the continent to take advantage of lower production costs.

Major hurdles abound, but manufacturers are hopeful that clothing facilities built from scratch that abide by international best practices will help the continent’s apparel sector develop.…

THE USA clothing industry, reliant on free trading, has not had much welcome from the populist policies of the administration of President Donald Trump and his Republican allies in the Congress. The sector has helped see off plans to impose a border adjustment tax (BAT), which would have crippled importers and is currently lobbying for a successful outcome to the decision to renegotiate the North American Free Trade Agreement (NAFTA).…

Prospects for trade deals that have underpinned the growth in American clothing and textile imports and exports appear increasingly precarious as the administration of President Donald Trump passes the 300-day mark, participants at a clothing industry conference heard this week.

Concern is especially severe regarding the North American Free Trade Agreement (NAFTA), as indicated by ‘SaveNAFTA’ being the password to access a mobile app provided to attendees at the 29^th annual Apparel Importers Trade & Transportation Conference held by the American Import Shippers Association (AISA) and the United States Fashion Industry Association (USFIA) on November 15, in New York City.…

DATA has been released by the Organisation for Economic Cooperation & Development (OECD) that shows how African governments collect less tax as a proportion of their countries’ wealth than in Latin America and the Caribbean. Africa’s average 2015 tax-to-GDP ratio was 19.1%; compared to 22.8% in Latin America/Caribbean and 34.3% for the 35 richer countries within the OECD.…

The trial of three former high-flying football executives kicked off in New York on Monday
(Nov 13). The former president of the Brazil Football Association (CBF) José Maria Marin;
former Paraguayan president of the South America football confederation (CONMEBOL)
Juan Ángel Napout; and former president of the Peruvian Football Association (FPF) Manuel
Burga are all charged with racketeering and bribery over TV rights to the Copa América and
Copa Libertadores football tournaments.…

Of course, it is not doing this by increasing policing and the number of suspicious transaction reports, but by liberalising what is now a criminal activity, the growing, processing, sale and consumption of cannabis for recreation.

By doing so, it plans to be the first G20 country to legalise and regulate the recreational use of cannabis nationwide by July 2018.…