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EMEA Trade Report: Brexit, Tax Evasion, Tariffs, VAT



Britain hopes to join TPP after Brexit
It is likely that any agreement would have to wait until TPP has been revised after the U.S. left and following the UK settling its departure from the EU.

[The Guardian]
France seeking to strengthen trade ties with China and Russia
The initiative reflects increasingly uncertain trade relations with the U.S. and UK.
New EU rules to prevent tax evasion and money laundering take effect
As of 1 January national tax authorities have direct access to information on the beneficial owners of companies, trusts, and other entities as well as customer due diligence records of companies.

[European Commission]

Middle East

Turkey lower tariffs on rebar imports
Duties on rebar from the EU and Malaysia were reduced from 30 percent to 10 percent while tariffs on imports from South Korea were lowered to 5.6 percent.

[Hurriyet Daily]
Cyprus and Saudi Arabia conclude double tax agreement



Tunisia working to promote exports to African markets
The initiative aims to increase trade exchanges from $700 million currently to at least $1 billion by 2020 and will first target Côte d'Ivoire, Cameroon, and the Congo.

[Asharq Al-Awsat]
Tanzania VAT removal increases transit cargo
The number of containers handled at the country’s port rose 35.5 percent in 2017 after the government eliminated the value-added tax on transit goods in the 2016/2017 budget.

[Daily News]
African countries praise Chinese ban on ivory