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The Canada Border Services Agency (CBSA) regularly conducts
audits or verifications of importers, to assess
compliance with Canada s customs laws. Such verifications could
result in additional duties, GST and/or other levies payable on
imported goods, as well as required self-corrections and
administrative monetary penalties (AMPS) in cases of
non-compliance. Twice a year (in January and July), the CBSA
publishes its verification priorities giving importers
advance notice of a CBSA customs audit.
CBSA customs verifications target three principal program areas,
namely: origin, tariff classification, and value for duty. The CBSA
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On November 15, 2020, leaders of fifteen Asia-Pacific countries
signed the Regional Comprehensive Economic Partnership (RCEP) via a
virtual signing ceremony.
Members of the RCEP include
Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos,
Malaysia, Myanmar, New Zealand, Philippines, Singapore, South
Korea, Thailand, and Vietnam. To many, the significance of
the RCEP is that it will connect approximately thirty percent of
the world s population and strengthen economic integration
between the member countries. Specifically, RCEP aims to
progressively lower tariffs, increase investment, and streamline
Customs procedures to facilitate the free movement of goods. The
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The Customs Union Agreement between Turkey and the European
Union was enacted into law on December 31, 1995. The EU-Turkey
Customs Union Agreement covers products such as industrial goods
and processed agricultural products. According to the ageement,
parties goods can move freely within the customs area, provided
that they are exempt from tariffs and equivalent taxes.
United Kingdom plays a critical role in Turkey s economy.
According to 2019 data, the UK ranks second among the list of
countries which Turkey exports the most goods to, and ninth in the
Will the CCI s Market Study on Private Equity Investments
Provide Clarity for Minority Investments?
In light of the growing trend of private equity
(
PE ) firms acquiring minority stakes
in multiple firms in the same sector, the Chairperson of the
Competition Commission of India (the
CCI ) has recently announced that the
CCI proposes to conduct a market study to analyse the incentives
and rights associated with such minority investments, and its
impact on competition in India.
1
Meru
v.
Ola/Uber
2 in June 2018, where the CCI
examined allegations of anti-competitive conduct against two cab
aggregators, Ola and Uber. The CCI noted that common investors held
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On 25 September 2020, President Joko Widodo signed Presidential
Regulation No. 97 of 2020, which ratified the Agreement between the
Indonesian government and the Singapore government on the Promotion
and Protection of Investments
(
Treaty ). The Treaty complements the
ASEAN Comprehensive Investment Agreement, which is designed to
promote greater investment flow between Singapore and
Indonesia.
Under the Treaty, investors from Indonesia and Singapore that
invest in either country will enjoy specific legal protection,
including access to international arbitration to resolve disputes.
The Treaty also affirms two principles: national treatment and most