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HMRC plans to implement a change on 1 April 2012, bringing forward the due date for the submission of Intra-Community Trade Statistics (Intrastat) to the 21st day of the month following the month in which the trade occurred, eg data for April 2012 should reach HMRC by 21 May 2012.
Successive supplementary declarations will then need to reach HMRC by the 21st of the following month, or the last working day before then.
EU Trade Commissioner Karel De Gucht has been in Moldova and Georgia this week to launch negotiations on establishing what he called Deep and Comprehensive Free Trade Areas (DCFTAs) between the EU and the two countries.
“I am confident that these negotiations will move ahead swiftly and pave the way to closer economic ties with the EU,” the Commissioner said. “The opening of negotiations confirms the EU’s commitment to deepen progressive economic integration and political association with our Eastern Partners.”
The Commissioner’s visit takes place ahead of the first negotiation rounds scheduled for 19-23 March (Moldova) and 26-30 March 2012 (Georgia).
The DCFTAs will be part of the Association Agreements currently being negotiated with Georgia and Moldova, which have the overall objective of significantly deepening political association and economic integration with these Eastern Partner countries.
They are very ambitious in nature, aiming to tackle trade obstacles at the borders and eliminating those behind the border. One objective is to bring legislation of its trade partners closer together with EU legislation in trade-related areas (this is the “deep” part of the deal).
In addition, the scope of the agreements is very broad, addressing matters that are considered fundamental to a modern, transparent and predictable trade and investment regime, such as competition, government procurement and intellectual property rights (hence “comprehensive”).
Both countries currently enjoy preferential access to the EU market through the autonomous lower import duties of the Generalised System of Preferences, with further incentives for good governance (GSP+ for Georgia) and Autonomous Trade Preferences (Moldova).
The future trade agreements will extend significantly beyond the scope of current co-operation, governed by the Partnership and Cooperation Agreements, in force since July 1998 (Moldova) and July 1999 (Georgia).
Progress achieved in dismantling barriers to the markets of six strategic economic partners – China, India, Japan, the Mercosur, Russia and the USA – has been described in a new report by the European Commission.
The second Trade and Investment Barriers Report highlights some success stories in the removal of certain trade barriers, such as in India, but also underlines the overall persistence of barriers for European business to access these key markets.
Dismantling these barriers would improve and open up new export and investment opportunities for European companies and people, the Commission argues.
“With protectionism an ever-present threat, we need to make sure that trade remains open in order to boost jobs and growth,” EU Trade Commissioner Karel De Gucht explained. “Today’s report shows that our enforcement strategy is paying off in fighting unfair barriers to trade and investment; yet, we need to strengthen our vigilance and double our efforts in order to make sure that openness is maintained worldwide.”
The latest report assesses the progress achieved on the 21 barriers that were identified in 2011 in the first edition.
It also identifies six new priorities: in China, the national security review mechanism for mergers and acquisitions involving foreign investors and export financing and subsidies; in India, the National Manufacturing Policy; in Brazil, the tax on industrial products (IPI) and import procedures for textiles and clothing; and in Argentina, the restrictions on reinsurance services.
The Trade and Investment Barriers Report is part of a broader enforcement strategy that aims to ensure that the EU’s trade partners abide by their commitments and maintain open markets.
The purpose of the report is to focus attention on efforts needed – including at the highest political level – to ensure market access for European companies in these important markets.
It’s that time of year again when the Arab Embassies review their legalisation costs so if there are to be any changes, they normally come into force from 1st April.
If you are looking to ship goods to any of the Arab League countries and will require legalised paperwork, please ensure that you check with us exactly what the costs will be.
For more information, please contact the International Trade Team on 01603 729712 or [email protected]
Australia recorded a seasonally-adjusted trade deficit of A$673 million in January 2012, the first monthly deficit since February 2011, according to figures released by the Australian Bureau of Statistics.
Exports of metal ores and minerals fell 15 per cent, or A$1.1 billion. This was in part caused by cyclone Heidi, which prevented companies like Rio Tinto and Fortescue Metals loading ships in Port Hedland in Western Australia.
Non-monetary gold, exports of which fell 56 per cent, or another A$1.1 billion, is a volatile item whose shipment mostly depends on the Perth Mint. It imports, refines and exports large quantities of gold, often in different months.
Services trade, however, contributed positively to January’s trade balance. Services exports rose 3 per cent for the month, with travel up 4 per cent and other services – mainly business – up 3 per cent. Services imports rose 2 per cent.
Manufacturing exports were also up, by 5 per cent, with transport equipment shipments ahead 29 per cent.
Weaker demand in Asia was reflected by a 17 per cent drop in exports to Japan, and a 28 per cent decrease in exports to ASEAN economies. Exports to China fell 23 per cent to A$5.2 billion, in part reflecting lower economic activity during the Lunar New Year holiday in January. However, there was continuing growth in exports to India, up 7 per cent in January.
Imports of intermediate and other merchandise goods fell 5 per cent, while capital goods dropped 1 per cent. There was an increase in imports of consumption goods – up 3 per cent – and non-monetary gold, up 6 per cent.
If you went to Germany on a business trip or exhibited at a German trade fair in 2011, you can potentially save approximately 16 percent of your business expenses by claiming back the German VAT you incurred during the trip.
Since 2010, British businesses can submit their claims via an online system with HM Revenue and Customs (HMRC). Applications can be filed directly via standardised forms and, in most cases, original invoices will not have to be provided. Claims for 2011 have to be submitted to HMRC by 30 September 2012.
VAT may be claimed back on many products and services, such as hotel accommodation, training courses, expenses for conferences and exhibitions, meals and beverages, car rental and car fuel, parking, public transport and taxi fares.
In order to qualify for the refund procedure, you must not be resident in Germany, or have a place of business or domicile in Germany, nor own property or maintain a branch in Germany.
Angelika Baumgarte, Deputy Director General of the German-British Chamber, explains: ‘The online procedure makes it easier for British companies to file their claims for refund of German VAT. However, the claims will still be dealt with by the German tax authorities. Therefore, any requests regarding further information and all correspondence will be in German.’
More information on reclaiming your German VAT can be obtained from the Tax Services Department of the German-British Chamber of Industry & Commerce. The staff can also carry out the whole application process on behalf of your company: from preparing your application, to filing it online and responding to enquiries of the German tax authorities in German.
World-leading sustainability expert Gunter Pauli will be one of the speakers at Norfolk and Suffolk Chambers’ Sustainability 2012 Conference on 10 May at the John Innes Centre, Norwich.
Gunter Pauli is an entrepreneur, lecturer, author and commentator on culture, science, politics, sustainability and the environment. His presentation at the event is entitled ‘Redefining competitiveness by changing the rules of the game’.
Gunter Pauli said: “I am delighted to be speaking at Sustainability 2012, because it’s established as the largest show of its kind in East Anglia and therefore plays a vital role in keeping the region up to date with sustainability issues.
“I hope my presentation will get delegates thinking. The main challenge of the ‘Green Economy’ is that it requires companies to invest more and consumers to pay more. This is justified when the world economy is expanding and unemployment is decreasing, but is a more difficult strategy when demand drops, consumer confidence dwindles and people know their jobs are in jeopardy.
“The aim of The ‘Blue Economy’ is to stimulate entrepreneurs to bring innovations to the market that has been inspired by the way ecosystems work; moving from the core business competencies to the search for a bundle of activities where the best is cheap, social capital is built and everyone aims to meet the basic needs of everyone else.”
Gunter Pauli also writes children’s fables. To date, he has written 36 which have been translated into more than 100 different languages. They are special because of the unique way they stimulate children to think and ask the kind of questions parents usually do not know how to answer.
Gunter says: “These are exactly the kind of questions that inspire children to be innovative and, for sure, we need more innovators as there is little doubt that we are creating a world where our children will have to find ways to solve the problems our generation has created, and, sadly, is still creating.”
The Government of China has recognised this, and has recently approved Gunter’s fables as the staple of all schools across China. So pleased are they with his fables that they have asked Gunter to write one fable for every day of the year. In true Gunter spirit, as if taking on that challenge is not enough, has started talks with TATA, India’s largest integrated power utility, as well.
Caroline Williams, CEO of Norfolk Chamber of Commerce, commented: “We are delighted to that Gunter Pauli has agreed to speak at the Sustainability 2012 conference. He is a very distinguished spokesman on the key issues which we need to address at the conference and we know that he will raise some thought-provoking issues. Securing Gunter, plus a host of other industry-leading speakers, shows how important this event has become for tackling sustainability issues.”
There will also be other expert speakers at Sustainability 2012, including George Padelopoulos, Sustainability Manager, Ethical Trade, B&Q; Tom McGarry, from EDF Energy: and Mark Pendlington, from Anglian Water.
Now in its third year, the Sustainability 2012 conference will focus on Low Carbon Technologies and Built Environment Innovation. The aim of the event is to highlight the clear distinction between how small and large companies need to react and plan for a range of new initiative.
Delegates will be offered a global insight into the need for sustainable developments, the UK-based regional perspectives, as well as county-based opportunities. The conference will also offer a wide choice of learning and interactive workshops and include an exhibition to showcase new products and innovations.
Caroline Williams added: “This conference is a must-attend for regional businesses of all sizes because it clearly sets out the opportunities that are available in the short and long term and the benefits of getting involved.”
For more information, to book a place on the conference, or to book a stand, go to www.sustainability2012.com or call 01603 625977.
UK GDP in Q4 2011 fell 0.3% on the quarter; revised down from previous estimate of 0.2% fall
Commenting on the revised GDP figure for the fourth quarter of 2011, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“The revised GDP figure for the fourth quarter is disappointing, with most analysts expecting the ONS to confirm its previous estimate of a 0.2% fall. The downward revision is largely due to the new estimate that the service sector fell by 0.1% on the quarter, with the ONS previously suggesting that services were unchanged. Although the fall in investment was much smaller than expected, the improvement in net exports was not as strong as we had hoped.
“The UK economy faces huge challenges, but we still believe that GDP has returned to positive growth in the first quarter of 2012 and there will be no new recession. But the austerity measures and unresolved problems in the eurozone will continue to put pressure on the economy, so it is crucial that policies to support growth are put at the top of the agenda.
“The recent Budget has not done enough to benefit small- and medium-sized businesses. More must be done as a matter of urgency to help firms create jobs, export and invest. While the government perseveres with measures to reduce the deficit, priorities must be reallocated within the overall spending envelope. The credit easing programme needs to be made more substantial, and the MPC must ensure that the QE programme encourages increased lending for smaller firms. Ministers must also look seriously at prospects for the creation of an SME bank.”
Commenting on the government’s decision to move ahead with crucial reforms to planning laws, John Longworth, Director General of the British Chambers of Commerce (BCC), said:
“This country’s impossible planning regime has for too long prevented our development and growth. We have said that without reform, businesses will shelve development projects, and our economy will lose out on crucial inward investment from overseas.
“Business will warmly welcome the government’s decision to push ahead with planning reform. If implemented properly, the new National Planning Policy Framework could give companies greater clarity and certainty when looking to expand. It will also allow planning to be restored to a positive tool, rather than a weapon used to fight reactionary battles against change, growth and jobs. Ministers must ensure that the new system works for companies of all sizes, whether in urban centers or rural idylls, North and South.
“The opponents of planning reform have been voluble in recent months. They have said there’s no need to change the planning system – but the evidence from good businesses trying to expand proves them wrong. The BCC’s own research shows that the complexity, cost and inconsistency of the current system discourage demand from companies that want to grow. That in turn limits economic growth. So a failure to reform the planning system would not just be a blow to business’s bottom line. It would also undermine Britain’s ability to pay for the public services we all want to see.
“No one in business wants to concrete over the countryside, damage the environment, or allow reckless and poor development. Businesses understand the need for planning to promote sustainable and responsible growth. But in its current form, that system limits even the most modest expansion, tying companies up in red tape, heaping costs upon owners and discouraging firms from applying in the first place.”
On the ‘presumption in favour of sustainable development’:
“We welcome the government’s decision to maintain a presumption in favour of sustainable development at the heart of the new system. This presumption will encourage growth while retaining the environmental safeguards that have long been part of the British planning system. It will also provide a powerful incentive for local authorities to complete their local plans to guide growth if they do not already have one in place.”
On the use of brownfield land first:
“The reinstatement of a ‘brownfield-first’ approach clarifies the government’s original intention in the draft. While we broadly support this change, local authorities must work to ensure this supports future business growth. An adequate supply of commercial land must be maintained.”
On the greenbelt:
“Local authorities must be careful not to score an own goal by putting too much protection around greenbelt land, some of which has little amenity value and could be better used to provide jobs and homes. Our cities require an adequate supply of land for commercial development, and in some cases this may require making the tough choice to use close-by greenbelt areas, rather than see environmentally-unsustainable development many miles away.”
On implementing the policy:
“We welcome the additional detail on how the changes will be implemented. But government and local authorities must work hard to provide certainty and consistency for businesses looking to expand over the 12-month transition period.”
BCC research shows:
70% of applicants had to pay for planning support during the application process, demonstrating the system’s complexity and cost
21% of businesses that needed planning permission but did not submit an application said it was because of negative perceptions of the planning process, demonstrating discouraged demand
Of those that considered applying but did not, 44% said their decision damaged their plans for growth or constrained output, demonstrating negative economic impact
65% of those who had applied for planning permission in different parts of the country said that they received different advice across local authorities, demonstrating inconsistency and complexity
Over half (53%) of applicants said that when a decision on an application is finally reached, it runs contrary to the advice of expert planning officers. This shows that under the current system politics too often trumps the need for growth.
Commenting on the threat of a strike by fuel tanker drivers, Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said:
Norfolk is a rural county and relies heavily on access to fuel, add in the fact that Norfolk has a high percentage of small to medium size businesses and it shows that a fuel strike could be very detrimental to businesses large and small. – Caroline Williams
“Norfolk employers are working flat out to keep their businesses afloat and deliver growth during challenging economic times. The last thing they need to contend with is a fuel strike, which could have a damaging effect on their businesses. Norfolk is a rural county and relies heavily on access to fuel, add in the fact that Norfolk has a high percentage of small to medium size businesses and it shows that a fuel strike could be very detrimental to businesses large and small.
Not only will firms struggle to access the goods they need to run their business, staff won’t be able to get to work, and smaller companies will be forced to shut down and lose takings. Public services could end up being affected, and parents who can’t get childcare will have to take time off and lose pay. Furthermore, many Norfolk jobs depend on sending goods to ports and markets overseas.
“People have already started panic buying, which will lead to further shortages and make the problem even worse. For this strike to go ahead would be totally reckless. With the Queen’s Jubilee and the Olympic Games only months away, the world’s eyes are watching the UK and any decisions to strike will only tarnish our reputation to global investors.”
The government today launched its National Loan Guarantee Scheme, which is intended to help businesses with a turnover of less than £50m access funding more cheaply.
The guarantees will apply to new term loans, hire-lease arrangements and refinancing of loans (where the term amount has changed). Please see the attached information from the government, designed to help businesses understand the scheme. Currently, the banks participating in the scheme are RBS, Lloyds, Santander, Barclays and Aldermore (further banks may join).