Canada will apply existing foreign ownership laws to PetroChina’s Oilsands Bid

The government of Canada has publicly stated that foreign ownership review legislation shall apply to PetroChina’s bid to buy Canadian oil sands assets, but will not introduce further barriers to investing in the country.  Current regulations call for…

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South Africa: Stiff New Penalties for Price Collusion

The Competition Amendment Bill (South Africa) was signed into law this past weekend.  The new legislation will allow directors and managers to be sent to jail for 10 years or receive a fine of 45,000 euros if convicted…

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Department of Homeland Security – New Diretive on Search of Electronic Devices and Media

On August 27th, Department of Homeland Security (DHS) Secretary Janet Napolitano announced new directives to enhance and clarify oversight for searches of computers and other electronic media at U.S. ports of entry.  While this directive has general application,…

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India Turns Corner with 6.1% Quarterly Growth

The Indian economy is showing clear signs of pulling out of economic turmoil, and has recorded a gain in quarterly GDP (in the June Quarter), of 6.1%.  This compares with a Canadian GDP increase 0.1 per cent in…

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South Africa, Not Yet Participating in EU Economic Partnership Agreements (EPAs)

South Africa is wary of the obligations that the EU is imposing on trading partners within its Economic Partnership Agreements.  The EPAs result, claims South African Trade and Industry Minister Rob Davies, in inconsistent trade rules between the…

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India: Simplification of Mining Law

In the same vain as my post yesterday on the unveiling of the new Indian Tax Code, India is proposing a simplification of it’s mining laws, with the objective of doubling that sectors contribution to the Indian GDP. …

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Iraq: Tax Holiday for Foreign Companies

A new investment law offers corporate tax holidays of 10 years to foreign companies coming to Iraq.  By focusing on economic reform and an enhanced business environment,  Iraq’s chances of emerging from the devestation of the Saddam era,…

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Indian Finance Minister Unveiled Income Tax Code

Last fortnight, the Indian finance minister unveiled the much talked about new Income Tax code, which aims to enhance and modernize the Indian tax system, and which appears to envisage general anti-avoidance rules (otherwise known as GAAR), similar…

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Taxation Follows Recession and Fiscal Stimulus

This article from BusinessDay (South Africa) demonstrates that, like night follows day, taxation follows fiscal stimulus! Recession is taxing the mind of governments

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Canada’s Current Fiscal Imbalance

Personal and corporate income taxes, and excise tax revenue are down, with corresponding increases in program expenses.  Program expenses in June 2009 were $20.7 billion, up $4.2 billion, or 25.2 per cent, from June 2008. This increase is…

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