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  • Tariff and Tax Primer Articles - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    Group of States ACP Group Established 6 June 1975 Aim to manage their preferential economic and aid relationship with the Categories SCM Resources Tariff and Tax Primer Additional Readings on Taxation Tariff and Tax in International Trade By Winston Cockburn MBA 05 Michael Johnston MBA 05 Steven Edwards Co Director SCRC North Carolina State University Posted 01 15 2011 Additional Readings on Taxation Standard sources on government finance More advanced works Useful works on the historical development of fiscal thought Academic thinking about tax policy Overviews of tax systems Categories SCM Resources Tariff and Tax Primer Trade Prohibitions Tariff and Tax in International Trade By Winston Cockburn MBA 05 Michael Johnston MBA 05 Steven Edwards Co Director SCRC North Carolina State University Posted 01 15 2011 Trade Prohibitions 1 Prohibited trading partners The Office of Foreign Assets Control OFAC of the US Department of the Treasury administers and enforces economic and trade sanctions based on US Categories SCM Resources Tariff and Tax Primer Trade Agreements Tariff and Tax in International Trade By Winston Cockburn MBA 05 Michael Johnston MBA 05 Steven Edwards Co Director SCRC North Carolina State University Posted 01 15 2011 Trade Agreements 1 MFN Most Favored Nation FTA Free Trade Agreement Other Applications of FTA MFN The most favored nation MFN clause binds a country to apply to its partner Categories SCM Resources Tariff and Tax Primer Harmonized Tariff Schedules Tariff and Tax in International Trade By Winston Cockburn MBA 05 Michael Johnston MBA 05 Steven Edwards Co Director SCRC North Carolina State University Posted 01 15 2011 Harmonized Tariff Schedules International trade has been facilitated by the use of harmonized tariff schedules Trading countries have agreed on the classification of goods by use and standardization of the Categories SCM Resources Tariff and Tax Primer Tariffs Tariff and Tax in International Trade By Winston Cockburn MBA 05 Michael Johnston MBA 05 Steven Edwards Co Director SCRC North Carolina State University Posted 01 15 2011 Tariffs Tariffs Transit Duties Export Duties Import Duties Tariffs 1 A tariff or customs duty is a tax levied upon goods as they cross national boundaries usually by the government Categories SCM Resources Tariff and Tax Primer Taxes Tariff and Tax in International Trade By Winston Cockburn MBA 05 Michael Johnston MBA 05 Steven Edwards Co Director SCRC North Carolina State University Posted 01 15 2011 Taxes Ad Valorem Supplemental Taxes Value added Summary Ad Valorem 1 Any tax imposed on the basis of the monetary value of the taxed item Literally the term means according to Categories SCM Resources Tariff and Tax Primer Glossary of Terms Tariff and Tax in International Trade By Winston Cockburn MBA 05 Michael Johnston MBA 05 Steven Edwards Co Director SCRC North Carolina State University Posted 01 15 2011 Glossary of Terms Common Market Other Taxes Customs Transit Retaliatory Tariffs Customs Union Rules of Origin Documentary Tax Surtaxes and Tariff Surcharges Duty Types Tariff Economic Union Treaties Free Trade Categories SCM Resources Tariff and Tax Primer Introduction

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  • List of International Trade Agreements: Tariff and Tax in International Trade - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    Nauru Niger Nigeria Niue Palau Papua New Guinea Rwanda Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Samoa Sao Tome and Principe Senegal Seychelles Sierra Leone Solomon Islands Somalia South Africa Sudan Suriname Swaziland Tanzania Togo Tonga Trinidad and Tobago Tuvalu Uganda Vanuatu Zambia Zimbabwe Andean Community of Nations CAN Note formerly known as the Andean Group AG the Andean Parliament and most recently as the Andean Common Market Ancom Established 26 May 1969 present name established 1 October 1992 effective 16 October 1969 Aim to promote harmonious development through economic integration Members 5 Bolivia Colombia Ecuador Peru Venezuela Arab Cooperation Council ACC Established 16 February 1989 Aim to promote economic cooperation and integration possibly leading to an Arab Common Market Members 4 Egypt Iraq Jordan Yemen note the ACC has remained inactive since the Gulf crisis Asia Pacific Economic Cooperation APEC Established 7 November 1989 Aim to promote trade and investment in the Pacific basin Members 21 Australia Brunei Canada Chile China Hong Kong Indonesia Japan South Korea Malaysia Mexico NZ Papua New Guinea Peru Philippines Russia Singapore Taiwan Thailand US Vietnam Observers 3 Association of Southeast Asian Nations Pacific Economic Cooperation Council Pacific Islands Forum Black Sea Economic Cooperation Zone BSEC Established 25 June 1992 Aim to enhance regional stability through economic cooperation Members 11 Albania Armenia Azerbaijan Bulgaria Georgia Greece Moldova Romania Russia Turkey Ukraine Observers 9 Austria Egypt France Germany Israel Italy Poland Slovakia Tunisia Caribbean Community and Common Market Caricom Established 4 July 1973 effective 1 August 1973 Aim to promote economic integration and development especially among the less developed countries Members 15 Antigua and Barbuda The Bahamas Barbados Belize Dominica Grenada Guyana Haiti Jamaica Montserrat Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Suriname Trinidad and Tobago Associate

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  • Additional Readings on Taxation: Tariff and Tax in International Trade - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    Europe The History and Sociology of Public Finance 1987 is a brief but informative collection of articles top Academic thinking about tax policy Tax policy is reported in economic journals and law reviews Among economic journals devoted primarily to tax analysis are The Canadian Tax Journal bimonthly National Tax Journal quarterly Public Finance three times a year Public Finance Quarterly Finanzarchiv Zeitschrift für das gesamte Finanzwesen three times a year Journal of Public Economics nine times a year provides highly mathematical analyses of taxation Proposals for tax reform and legislative judicial and regulatory developments in the United States are reported in Tax Notes weekly Excellent analyses of tax policy are offered in the annual Report of Proceedings of the Tax Conference Convened by the Canadian Tax Foundation John Eatwell Murray Milgate and Peter Newman eds The New Palgrave A Dictionary of Economics 4 vol 1987 includes comprehensive articles on taxation and related topics top Overviews of tax systems John A Kay and Mervyn A King The British Tax System 4th ed 1986 Joseph A Pechman Federal Tax Policy 5th ed 1987 Who Paid the Taxes 1966 85 1985 Sijbren Cnossen ed Tax Coordination in the European Community 1986 Organization for Economic Co operation and Development Personal Income Tax Systems Under Changing Economic Conditions 1986 Revenue Statistics of OECD Member Countries 1965 1985 1986 United States Internal Revenue Service Statistics of Income Compendium of Studies of International Income and Taxes 1985 provides statistical information on tax systems Council of Economic Advisers U S Annual Report also contains a useful statistical appendix Advisory Commission on Intergovernmental Relations Tax Capacity of the States annual provides information on state and local government finance Publications of the International Bureau of Fiscal Documentation such as its Bulletin monthly European Taxation monthly or Corporate Taxation in Latin America quarterly describe developments in tax policy around the world and summarize the important features of many tax systems Confederation of British Industry Taxation in Western Europe annual provides a comparative study of the modern tax systems of various countries Somewhat dated studies of the tax systems of particular countries may be found in the World Tax Series prepared by the International Program in Taxation at the Harvard Law School top Specifics of taxation in developing countries Haskell P Wald Taxation of Agricultural Land in Underdeveloped Economies A Survey and Guide to Policy 1959 Richard M Bird and Oliver Oldman Readings on Taxation in Developing Countries 3rd ed 1975 Richard Goode Government Finance in Developing Countries 1984 John F Due Indirect Taxation in Developing Economies rev ed 1988 Malcolm Gillis ed Fiscal Reform for Colombia 1971 David Newbery and Nicholas Stern eds The Theory of Taxation for Developing Countries 1987 a highly theoretical treatment of the topic top Taxation of income from capital Martin Feldstein Capital Taxation 1983 Arnold C Harberger Taxation and Welfare 1974 reprinted 1988 Charles R Hulten ed Depreciation Inflation and the Taxation of Income from Capital 1981 Mervyn A King and Don Fullerton eds The Taxation

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  • Trade Prohibitions: Tariff and Tax in International Trade - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    Enemy Act 50 U S C App 1 44 TWEA North Korea Cuba Transaction Control Regulations provides for ten years imprisonment a USD1 000 000 fine for corporations and a 100 000 fine for individuals as well as forfeiture of funds or other property involved in violations In addition 18 U S C 3571 provides that organizations or individuals convicted of violating a criminal statute may be fined the greater of the amount specified in the statute or twice the pecuniary gain or loss from the violation and that individuals may be fined 250 000 for felonies B International Emergency Economic Powers Act 50 U S C 1701 06 IEEPA Iraq Sudan Iran Terrorism Narcotics Nonproliferation Sierra Leone Zimbabwe the Balkans Syria and Burma provides for ten years imprisonment and a USD50 000 fine for corporations and individuals In addition 18 U S C 3571 provides that organizations or individuals convicted of violating a criminal statute may be fined the greater of the amount specified in the statute or twice the pecuniary gain or loss from the violation or 500 000 for felonies and that individuals may be fined 250 000 for felonies C Iraqi Sanctions Act Pub L 101 513 104 Stat 2047 55 ISA Iraq provides for twelve years imprisonment and a USD1 000 000 corporate or personal fine In addition 18 U S C 3571 pro vides that organizations or individuals convicted of violating a criminal statute may be fined the greater of the amount specified in the statute or twice the pecuniary gain or loss from the violation D United Nations Participation Act 22 U S C 287c UNPA Iraq and Diamond Trading provides for ten years imprisonment a 10 000 criminal fine for corporations and individuals and criminal forfeiture of funds or other property involved in violations In addition 18 U S C 3571 provides that organizations or individuals convicted of violating a criminal statute may be fined the greater of the amount specified in the statute or twice the pecuniary gain or loss from the violation or 500 000 for felonies and that individuals may be fined 250 000 for felonies E International Security and Development Cooperation Act ISDCA codified at 22 U S C 2349 aa 9 Iran has no criminal penalties but general Customs and other relevant penalty provisions may apply to particular circumstances F The Cuban Democracy Act CDA 22 U S C 6001 10 relating to Cuba has the same fines as TWEA above G The Cuban Liberty and Democratic Solidarity LIBERTAD Act 22 U S C 6021 91 relating to Cuba has the same fines as TWEA above and codifies the Cuban Assets Control Regulations H The Antiterrorism and Effective Death Penalty Act enacting 8 U S C 219 18 U S C 2332d and 18 U S C 2339b Cuba North Korea Iran Iraq Syria and Sudan provides for criminal penalties of 500 000 per count against corporations and ten years imprisonment and or 250 000 per count

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  • Trade Agreements: Tariff and Tax in International Trade - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    the 1930s led instead to a rise of restrictions in world trade Imperial or regional systems of preference came into being the Ottawa Agreements of 1932 for the British Commonwealth similar arrangements for the French empire and a series of tariff and preference agreements negotiated in eastern and central Europe from 1931 on top FTA Any contractual arrangement between states concerning their trade relationships is referred to as a Trade Agreement or a Free Trade Agreement Trade agreements may be bilateral or multilateral that is between two states or more than two states For most countries international trade is regulated by unilateral barriers of several types including tariffs non tariff barriers and outright prohibitions Trade agreements are one way to reduce these barriers thereby opening all parties to the benefits of increased trade In most modern economies the possible coalitions of interested groups are extremely numerous Additionally the variety of possible unilateral barriers is great Further there are other non economic reasons for some observed trade barriers such as national security or the desire to preserve or insulate local culture from foreign influences Thus it is not surprising that successful trade agreements are very complicated Some common features of trade agreements are 1 reciprocity 2 a most favored nation clause and 3 national treatment of non tariff barriers Reciprocity is a necessary feature of any agreement If each required party does not gain by the agreement as a whole it has no incentive to agree to it If agreement takes place it may be assumed that each party to the agreement expects to gain at least as much as it loses Thus for example Country A in exchange for reducing barriers to Country B s products thereby benefiting A s consumers and B s producers will insist that Country B reduce barriers to Country A s products benefiting Country A s producers and perhaps B s consumers The most favored nation clause protects against the possibility that one of the parties to the current agreement will subsequently selectively lower barriers further to another country For example Country A might agree to reduce tariffs on some goods from Country B in exchange for reciprocal concessions and then further reduce tariffs for the same goods from Country C in exchange for other concessions But if A s consumers can get the goods in question more cheaply from C because of the tariff difference B gets nothing for its concessions Most favored nation status means that A is required to extend the lowest existing tariff on specified goods to all its trading partners having such status Thus if A agrees to a lower tariff later with C B automatically gets the same lower tariff A national treatment of non tariff restrictions clause is necessary because most of the properties of tariffs can be easily duplicated with an appropriately designed set of non tariff restrictions These can include discriminatory regulations selective excise or sales taxes special health requirements quotas voluntary restraints on importing special

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  • Harmonized Tariff Schedules: Tariff and Tax in International Trade - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    and similar articles modeling pastes dental waxes and dental preparations with a basis of plaster Chapter 35 Albuminoidal substances modified starches glues enzymes Chapter 36 Explosives pyrotechnic products matches pyrophoric alloys certain combustible preparations Chapter 37 Photographic or cinematographic goods Chapter 38 Miscellaneous chemical products SECTION VII PLASTICS AND ARTICLES THEREOF RUBBER AND ARTICLES THEREOF Chapter 39 Plastics and articles thereof Chapter 40 Rubber and articles thereof p SECTION VIII RAW HIDES AND SKINS LEATHER FURSKINS AND ARTICLES THEREOF SADDLERY AND HARNESS TRAVEL GOODS HANDBAGS AND SIMILAR CONTAINERS ARTICLES OF ANIMAL GUT OTHER THAN SILKWORM GUT Chapter 41 Raw hides and skins other than fur skins and leather Chapter 42 Articles of leather saddlery and harness travel goods handbags and similar containers articles of animal gut other than silkworm gut Chapter 43 Fur skins and artificial fur manufactures thereof SECTION IX WOOD AND ARTICLES OF WOOD WOOD CHARCOAL CORK AND ARTICLES OF CORK MANUFACTURERS OF STRAW OF ESPARTO OR OF OTHER PLAITING MATERIALS BASKETWARE AND WICKERWORK Chapter 44 Wood and articles of wood wood charcoal Chapter 45 Cork and articles of cork Chapter 46 Manufactures of straw of esparto or of other plaiting materials basket ware and wickerwork SECTION X PULP OF WOOD OR OF OTHER FIBROUS CELLULOSIC MATERIAL WASTE AND SCRAP OF PAPER OR PAPERBOARD PAPER AND PAPERBOARD AND ARTICLES THEREOF Chapter 47 Pulp of wood or of other fibrous cellulosic material waste and scrap of paper or paperboard Chapter 48 Paper and paperboard articles of paper pulp of paper or of paperboard Chapter 49 Printed books newspapers pictures and other products of the printing industry manuscripts typescripts and plans SECTION XI TEXTILE AND TEXTILE ARTICLES Chapter 50 Silk Chapter 51 Wool fine or coarse animal hair horsehair yarn and woven fabric Chapter 52 Cotton Chapter 53 Other vegetable textile fibers paper yarn and woven fabric of paper yarn Chapter 54 Man made filaments Chapter 55 Man made staple fibers Chapter 56 Wadding felt and non woven special yarns twine cordage ropes and cables and articles thereof Chapter 57 Carpets and other textile floor coverings Chapter 58 Special woven fabrics tufted textile fabrics lace tapestries trimmings embroidery Chapter 59 Impregnated coated covered or laminated textile fabrics textile articles of a kind suitable for industrial use Chapter 60 Knitted or crocheted fabrics Chapter 61 Articles of apparel and clothing accessories knitted or crocheted Chapter 62 Articles of apparel and clothing accessories not knitted or crocheted Chapter 63 Other made up textile articles sets worn clothing and worn textile articles rags SECTION XII FOOTWEAR HEADGEAR UMBRELLAS SUN UMBRELLAS WALKING STICKS SEATSTICKS WHIPS RIDING CROPS AND PARTS THEREOF PREPARED FEATHERS AND ARTICLES MADE THEREWITH ARTIFICIAL FLOWERS ARTICLES OF HUMAN HAIR Chapter 64 Footwear gaiters and the like parts of such articles Chapter 65 Headgear and parts thereof Chapter 66 Umbrellas sun umbrellas walking sticks seat sticks whips riding crops and parts thereof Chapter 67 Prepared feathers and down and articles made of feathers or of down artificial flowers articles of human hair

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  • Tariffs: Tariff and Tax in International Trade - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    more than 200 articles With the growth of free trade in the 19th century export duties became less appealing they were abolished in England in 1842 in France in 1857 and in Prussia in 1865 At the beginning of the 20th century only a few countries levied export duties for example Spain still levied them on coke and textile waste Bolivia and Malaya on tin Italy on objects of art and Romania on hides and forest products The neo mercantilist revival in the 1920s and 1930s brought about a limited reappearance of export duties In the United States export duties were prohibited by the Constitution mainly because of pressure from the South which wanted no restriction on its freedom to export agricultural products Export duties are now generally levied by raw material producing countries rather than by advanced industrial countries Differential exchange rates are sometimes used to extract revenues from export sectors Commonly taxed exports include coffee rubber palm oil and various mineral products The state controlled pricing policies of international cartels such as the Organization of Petroleum Exporting Countries have some of the characteristics of export duties Export duties may act as a form of protection to domestic industries As examples Norwegian and Swedish duties on exports of forest products were levied chiefly to encourage milling woodworking and paper manufacturing at home Similarly duties on the export from India of untanned hides after World War I were levied to stimulate the Indian tanning industry In a number of cases however duties levied on exports from colonies were designed to protect the industries of the mother country and not those of the colony If the country imposing the export duty supplies only a small share of the world s exports and if competitive conditions prevail the burden of an export duty will likely be borne by the domestic producer who will receive the world price minus the duty and other charges But if the country produces a significant fraction of the world output and if domestic supply is sensitive to lower net prices then output will fall and world prices may rise and as a consequence not only domestic producers but also foreign consumers will bear the export tax How far a country can employ export duties to exploit its monopoly position in supplying certain raw materials depends upon the success other countries have in discovering substitutes or new sources of supply top Import Duties Import duties are the most important and most common types of custom duties As noted above they may be levied either for revenue or protection or both but tariffs are not a satisfactory means of raising revenue because they encourage uneconomic domestic production of the dutied item Even if imports constitute the bulk of the available revenue base it is better to tax all consumption rather than only consumption of imports in order to avoid uneconomical protection Import duties are no longer an important source of revenues in developed countries In the United States for

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  • Taxes: Tariff and Tax in International Trade - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    upon the final consumer Although the tax is collected at each stage of the production distribution chain the fact that sellers receive a credit for their tax payments causes the tax in effect to be passed on to the final consumer who receives no credit The tax can be regressive i e the percentage of income paid in tax rises as income falls but most countries have at least partly avoided this effect by applying a lower rate to necessities than to luxury items In 1954 France was the first country to adopt the value added tax on a large scale It served as an improvement on the earlier turnover tax by which a product was taxed repeatedly at every stage of production and distribution without relief for taxes paid at previous stages Although easier to administer such a tax discriminated heavily against industries and sectors in which products were bought and sold several times encouraging an undesirable concentration of economic power In 1968 West Germany adopted the value added tax and since then most other western European nations have followed suit largely as the result of a desire to harmonize tax systems All members of the European Union are required to implement value added taxes that conform to a model prescribed by the union Many countries in South America Asia and Africa have also adopted the tax top Supplemental Taxes GST HST PST are charged by certain government entities on good and services imported purchased or transacted within the country Below is a sample of the application of such taxes as conducted in Canada The text contains hyperlinks to allow the reader to investigate in more detail top Summary Most goods and services sold or provided in Canada are taxable at the rate of 7 GST or 15 HST The HST applies in the provinces of New Brunswick Nova Scotia and Newfoundland and Labrador Certain items such as sales of basic groceries and prescription drugs are also taxable at a rate of 0 These are referred to as zero rated goods and services A limited number of goods and services are exempt from the GST HST The GST HST applies to most transactions throughout the production and marketing process Business and organizations required to or who voluntarily choose to register for the GST HST are referred to as registrants Businesses must register to obtain a Business Number with a GST HST account Registrants can claim a credit to recover the GST HST that is paid or payable on purchases used to provide taxable goods and services This credit is called an input tax credit and can be claimed for the GST HST paid or payable for goods or services acquired or imported for use consumption or supply in their commercial taxable activities GST HST registrants who provide taxable goods or services have to charge and collect the GST or HST on their sales If the GST HST collected is greater than the GST HST paid or payable the difference

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