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Taxation: World


A US trade panel on Wednesday cleared the way for import duties on solar products made in China and Taiwan, saying they were unfairly dumped into the US market. The US International Trade Commission (ITC) said it had determined, after an anti-dumping investigation, that the solar products had been offered for sale in the US at below their market value, damaging the US solar sector.

A leading contender in Zambia's presidential elections, Hakainde Hichilema, on Sunday vowed to review a new 'penal' mining tax regime that has spooked investors in the copper-rich nation. Zambia tripled mining royalties to 20 percent from six percent on January 1, putting the government at loggerheads with mining firms already buckling under a fall in global commodity prices.
President Barack Obama's new tax plan ran into rapid criticism from the Republicans on Sunday, underscoring the challenges facing any attempt to overhaul the US tax code. With the start of a new Congress this month under Republican control, lawmakers have been discussing tax reform. However, with Congress deeply divided on fiscal policy, Obama's latest tax plan is likely to hit strong opposition.
China has broadened a tax refund scheme for overseas visitors to make it nationwide in a bid to attract tourists and boost domestic consumption, the state-run Xinhua news agency reported late on Friday. Under the plan, foreign tourists as well as visitors from Hong Kong, Macau and Taiwan who have lived on the mainland for no more than 183 days are eligible for an 11 percent rebate on consumer goods purchased at designated department stores, it said.
Brazil's finance minister said Tuesday a program of targeted tax increases was designed with the intention to not harm fragile growth in Latin America's largest economy. "We have no intention of producing a bag of tricks or packages - but we shall have to take some measures," Joaquim Levy told reporters as he sets about devising a strategy to lift an economy struggling after four years of low growth.
China''''s trade surplus soared by almost half last year to a record $382 billion, the government announced Tuesday, but the world''''s second-largest economy again missed its trade growth target due to weakness overseas. Exports increased 6.1 percent to $2.34 trillion in 2014, while imports rose 0.4 percent to $1.96 trillion, the General Administration of Customs said on its website.
Greek Prime Minister Antonis Samaras on Saturday vowed to pursue reforms while gradually lowering taxes as central planks of a programme he hopes will secure victory in January 25 elections. "Our national plan ... in 2015-2021 includes reforms to boost growth and competitiveness, " the prime minister of the centre-right coalition told hundreds of ministers and supporters of his conservative New Democracy party.


Index Closing Chg%
Arrow DJIA 17,191.37 1.13
Arrow Nasdaq 4,638.00 0.93
Arrow S&P 2,002.16 1.35
Arrow FTSE 6,825.94 0.21
Arrow DAX 10,710.97 0.78
Arrow CAC-40 4,610.94 0.29
Arrow Nikkei 17,795.73 0.15
Arrow H.Seng 24,861.81 0.22
Arrow Sensex 29,559.18 0.04

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln