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In Trade and Foreign Investment

Canada: Trade Outlook – Fall 2023 Trade & Customs compliance outlook (Video Chat)

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2023 has proven to be another dynamic year under the Government of Canada’s trade agenda, which showed no signs of slowing over the summer. From May to August 2023, the Government passed into law novel supply chain transparency legislation and introduced amendments and legislative proposals that are impacting, or will impact, compliance with Canadian customs, export controls, and economic sanctions legislation.
Watch the companion videos highlighting our compliance tips in relation to developments in Canadian customs, sanctions, export controls, and forced labor laws.

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In Global

Global Legal Guide for Luxury & Fashion Companies

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The luxury and fashion industry has grown rapidly in recent years, driven by the rising worldwide demand of the image-conscious, growing middle classes in emerging markets, and the incredible advancement and evolution in online retail sales and marketing. These developments have ushered in new challenges for the industry with companies facing more stringent regulations as they expand into new markets and a heightened demand from consumers for greater transparency around sustainability, supply chain, as well as complex tax and corporate issues. This is a Comprehensive global guide to all legal matters relating to the luxury and fashion industry.

In Connected Compliance

Global: Post-Acquisition Integration Handbook

by 2 Mins Read

This is the 20th anniversary edition of the Global Post-Acquisition Integration Handbook, which since its first publication in 2003 has served as a practical reference tool for any company contemplating, or currently executing, a multinational business acquisition and integration. Key topics such as tax, corporate and employment law are considered, and regional comparison tables summarize the main aspects of integrations in more than 30 jurisdictions. Since our last update in 2017, there has been a great deal of change in the global legal and business landscape, hence this current edition includes new content on recent legal developments in the areas of compliance and risk management (including antitrust, bribery, sanctions and customs), foreign investment review, privacy and data protection.

In Trade and Foreign Investment

Middle East Customs and Transfer Pricing Briefing

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We are delighted to invite you to our Baker McKenzie Middle East Customs and Transfer Pricing Briefing.
Hosted at our Dubai International Financial Centre (DIFC) office on 12 October 2023 at 8:30 – 11:30 am GST, the session is designed to provide you with first-hand insights from our Middle East and international experts in the fields of Customs, Transfer Pricing and VAT.

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In Trade and Foreign Investment

Indonesia: Customs targets examination of companies that utilize under-name import

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On behalf importation, locally known as “under-name importation” or “QQ” importation, has been used by companies for more than a decade, ever since the Directorate General of Customs and Excise first allowed the name of the owner of goods to be included in the import declaration form (PIB). Under Indonesia’s Customs Law, the importer of record is the party that is subject to an audit or a re-examination (Penelitian Ulang), and there is no audit or re-examination of the owner of goods in a PIB using under-name importation. However, in mid-August this year, the Minister of Finance issued Regulation No. 78 of 2023 on Re-examination in the Field of Customs, which will come into force on 21 October this year. One of the objects of re-examination is the owner of goods

In Trade and Foreign Investment

United Kingdom: Border ambitions reach next stage with recommendations for the Ecosystem of Trust

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The UK government published an evaluation report for the six pilot initiatives on an ‘Ecosystem of Trust’ (“EoT”) on 29 August 2023, which was first set out in the government’s 2025 UK Border strategy. Aimed at using technology to create the so called EoT around the border, the UK proposed an automated assurance and reliability model that could allow a simplification of the current customs and border processes. Such an ecosystem would be built on three pillars: technological capabilities, real time data and trusted relationships.

In Trade and Foreign Investment

UK: Introduction of new border model postponed

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The UK government has released its final plans for the new Border Target Operating Model (“the Model”). The Model was initially set for implementation from October this year and has now been delayed to January 2024. The UK Government has agreed to this delay of three months following input from public consultation from the private sector and stakeholders.

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In Trade and Foreign Investment

Venezuela: National Executive decrees the creation and amendment of Special Economic Zones

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Pursuant to the Organic Law of Special Economic Zones, the National Executive issued on 10 August 2023 Decree Nos. 4,838; 4,839; 4,840; and 4,841. The Decrees create the Special Economic Zone (SEZ) of the Federal Dependency La Tortuga Island, adapt the Special Military Economic Zone No. 1 of the State of Aragua and SEZ of Peninsula Paraguaná of the state of Falcón, and create the SEZ of the State of La Guaira, respectively.

In Trade and Foreign Investment

Argentina: Decree 433/2023 ̶ Benefits for companies that subscribe to price agreements

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By Decree 433/2023 and General Resolution No. 5414/2023 of the Federal Tax Administration, new benefits were established until 31 October 2023 for companies that enter into price agreements — or adjust the existing ones — with the Secretary of Commerce.

In Trade and Foreign Investment

South Africa and China: Trade relations grow stronger

by 6 Mins Read

South Africa’s trade relationship with China is growing, resulting in several announcements regarding trade at the BRICS Summit in August 2023. Among the announcements was the news that Chinese companies had signed deals to buy South African products worth around USD 2.2 billion. Also announced were plans for China to import more South African beef and other South African agricultural products, as well as the donation of Chinese energy equipment worth USD 8.9 million to South Africa, in addition to a grant valued at USD 26.9 million to assist the country with its energy crisis.

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