Wheels Within Wheels


By Global Tax Weekly

Let’s try to understand the trading rights and wrongs of the Great Indian Bicyle Story. Well, actually, I can’t. There are a lot of figures provided by ASSOCHAM in that story, and none of them are supported by believable statistics. It comes across as a compilation of protectionist statements by a domestic lobbying pressure group, and is certainly no basis on which to reach any conclusions. India doesn’t have any effective equivalent to the USITC, and most of the time its behaviour in the trading sphere appears incoherent, driven by this or that internal government faction in a way that is indecipherable to outside observers; and all the more so at present as politicians are focused on the upcoming election, which is quite likely to herald a major power shift with an unpredictable impact on international trading policies. So for those whose interests are affected by trading rules, it’s down to lobbying the Government as best you can. Maybe then I shouldn’t complain so much about the countries which do have official pro- or anti-trade organizations. At least there you know who to shoot at!





Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>



RELATED ARTICLES AND INFORMATION

Netherlands Cancels Planned Corporate Tax Reduction

The Dutch Government’s 2021 Tax Plan, unveiled in mid-September, revealed that a planned decrease in the headline corporate tax rate from 25% to 21.7%...

Germany Tackles Missing Trader Fraud

In Germany, plans were announced in the draft Annual Tax Act 2020 to impose the VAT reverse charge mechanism on supplies of certain telecommunication...

Ireland Reduces VAT

Ireland has reduced its standard rate of VAT from 23 percent to 21 percent from September 1, 2020, with the reduction to be in...