September 16, 2020 Wednesday

Foreign trade and economic information | Special Topics on global trade and investment law

Information source: Legal Affairs Department of Shenzhen Council for the Promotion of International Trade Release time: 2024-09-13

  1. Southeast Asia

  Singapore 【365买球软件】

  Singapore's Ministry of Health (MOH) will launch a three-week public consultation on the Food Safety and Security Bill from August 16, inviting the public to provide feedback and suggestions on the provisions of the bill。(b) The proposed Food Safety and Security Bill would prohibit the import of certain foods if they are likely to cause non-communicable diseases affecting public health in the local population;Food companies that do not properly label food, falsely describe food ingredients, or publish misleading food advertisements will also be punished accordingly。

  Ii. South Asia

  Nepal 【365备用网站】

  2024年5月,Nepal unveils Budget for 2024-2025,We plan to implement a series of new measures to improve the business environment and strengthen tax regulation,The main elements include: reducing the withholding tax rate on interest paid from overseas financing,Expansion of the permanent establishment,We will improve the model agreement on avoidance of double taxation。According to the budget, imports related to foreign investment projects will no longer be exempt from tax, but a tax refund system will be implemented。The above policy will come into effect on July 16, 2024。

  3. Russia

  1、【365买球软件】

  On August 19, members of the Liberal Democratic Party of Russia submitted a draft law to the State Duma to prohibit the family members of low-skilled workers from moving to Russia。If the draft law is adopted, the "labor contract or labor license" of a labor migrant will no longer be a reason for the family of the worker to stay with him in Russia。It is reported that if the draft is adopted, it will come into force on January 1, 2025。The term "low-skilled workers" in the draft refers to foreign workers who legally reside in Russia with a work permit or a labor permit only on the basis of a labor contract。The bill aims to improve the overall efficiency of the immigration management of foreign citizens and stateless persons in Russia and reduce the additional inflow of migrants。

  2、【365备用网站】

  According to the Russian government website, the Russian government passed a resolution on August 13 to extend the ban on gasoline exports until December 31, 2024。According to the resolution, the Russian government made this decision in order to maintain a stable situation in the fuel market while seasonal demand remains and refineries undergo regular maintenance。Earlier, the Russian government issued a decree at the end of February this year to ban gasoline exports from March 1 to August 31 in order to maintain market stability when domestic demand increases。From May 20 to the end of July, the Russian government decided to temporarily lift the ban due to the saturation of the domestic auto gasoline market and to prevent the reduction of oil refining by individual enterprises。

  Iv. Central Asia

  1. Kyrgyzstan [Exchange rate]

  The press service of the National Bank of Kyrgyzstan recently announced that the bank has included the renminbi in the list of official daily exchange rate currencies。The announcement said that the Board of Governors of the National Bank passed a resolution to amend the official exchange rate rules for foreign currencies to the national currency。Starting from September 1, 2024, the official exchange rate for the RMB to the Kyrgyz Som will be published daily。Currently, the National Bank of Kyrgyzstan publishes the official exchange rates for the US dollar, Russian ruble, euro and Kazakh tenge on a daily basis, and for other currencies such as the Chinese yuan on a weekly basis。

  2. Uzbekistan 【365备用网站】

  As of September 1, 2024, Uzbekistan will start implementing the Directive of Presidential Decree No. UP-84 "on measures to strengthen the regulation of the market for alcohol and tobacco products and to prevent their illicit trafficking", and carriers will be required to make deposits to customs accounts。The amount of the deposit will be equivalent to the excise duty, value added tax and customs duty payable on the import of tobacco products into Uzbekistan。The aim of this measure is to stop the practice of "interrupting transit", so that tobacco products in transit actually remain in the country and are sold on the black market。Measures relating to mandatory deposit of tobacco goods in transit are an important step in Uzbekistan's fight against the smuggling of tobacco products。

  V. West Asia

  Israel [Dispute Resolution]

  In early 2024, the draft of Israel's International Commercial Arbitration Law was finally enacted and implemented after several revisions。Building on the UNCITRAL Model Law, the bill strengthens the enforceability of Israeli arbitration agreements, modernizes the Israeli arbitration system and helps ensure that legal procedures for handling transnational disputes are both standardized and predictable。

  6. Central and Eastern Europe

  1. Serbia [Document]

  Recently, the Serbian Customs updated the regulations for the implementation of ATA documents, increasing the adjustment fee from 6,300 dinars to 9,920 dinars。According to the new regulations, the relevant ATA documents must be returned to the exit on time, and ensure that the exit stamp and endorsement are complete at the Serbian customs。Failure to re-exit within the required time, or failure to obtain a re-exit stamp and endorsement from the Serbian Customs as required, will be subject to an adjustment fee of 9,920 dinars。

  2. Poland 【365买球软件】

  The Polish government recently announced plans to increase the excise tax on cigarettes by 25%。The Polish Finance Ministry estimates that this adjustment will increase the state budget by an additional 4 to 5 billion zlotys per year。This substantial increase in cigarette excise tax will not only bring considerable fiscal revenue to the Polish government, but also is expected to have a positive impact on reducing smoking and improving public health。The Polish government said that it will continue to pay attention to the market reaction after the consumption tax adjustment and make corresponding adjustments in time to ensure the smooth implementation of the policy。

  Vii. European Union

  【365备用网站】

  On July 18, 2024, the EU Ecodesign Regulation for Sustainable Products came into force, requiring products to comply with ecodesign requirements before entering the EU market for circulation or use, with the aim of reducing the overall carbon and environmental footprint of products during their life cycle。The Ecodesign for Sustainable Products Regulation applies to all products, components and intermediate goods sold on the EU market, including imported products。The EU will roll out a list of regulated products in batches, prioritizing textiles, furniture, steel, aluminum, tires, detergents, paints, lubricants, chemicals, energy-related products, communications products and other electronics。

  (Source: China Council for the Promotion of International Trade Commercial Legal Service Center)


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