To
receive our free monthly network newsletter enter your
email address below:
ADVERTISING
ADVERTISE
ON THIS SITE!
Our sites have more than 100,000 visitors every month. Like
our international site, this new US site will quickly grow
to be one of the most-visited
American tax sites.
If you want to advertise with us, be an exclusive launch partner
for new US sections, or show our highly-rated news content
on your own site, just e-mail paul@ustax
network.com.
We'll get right back to you! If you give us a number to call
you, we'll do just that. For
more information, click
here.
>
Information provided on this site is for general guidance only and
is often simplified. Actual IRS procedures are complex, and taxpayers
should obtain professional assistance or use IRS sources for complete
information.
US Files WTO Case Against Philippines' Excise Taxes On Alcohol,
by Mary Swire, Tax-News.com, Hong Kong
Monday, January 18, 2010
United States Trade Representative, Ron Kirk, has announced that the US has
requested World Trade Organization (WTO) dispute settlement consultations with
the Philippines regarding the latter’s excise taxes on imported distilled
spirits, such as whisky and gin.
As the Philippines taxes imported distilled spirits at significantly higher
rates than domestic distilled spirits, Kirk said: "We are going to
the WTO because we want to ensure that US producers have access to their markets
overseas." He urged “the Philippine government to eliminate that
discrepancy and level the playing field for our exports immediately."
WTO rules generally bar WTO members from discriminating between imported and
domestic products in their tax regimes. It was confirmed that the US government
has raised concerns over this issue with the Philippines over the past several
years, both bilaterally and in WTO forums.
In addition, after the European Union (EU) requested WTO dispute settlement
consultations on these taxes in July 2009, the US joined these consultations
and participated in meetings between the EU and the Philippines in October 2009.
After there had been no resolution of its dispute, the EU requested the establishment
of a WTO panel last month. It has been reported that the EU is considering a
renewal of that request, given that the problem remains.
It was explained that the Philippines applies tax rates to distilled spirits
that differ depending on the product from which the spirit is distilled. The
Philippines taxes distilled spirits made from certain materials that are typically
produced in the Philippines at a low rate. Imported distilled spirits are taxed
at significantly higher rates (from approximately 10 to 40 times higher) than
the low rate applied to domestic products.
In the Philippines, producers use domestic materials, such as sugar and palm,
to create a variety of different distilled spirits, including whisky, brandy,
gin, vodka, and tequila. These distilled spirits compete with US and EU imports
of the same spirits made from other materials (such as whisky distilled from
wheat).
According to US figures, since 2003, imports – including US products – never
exceeded 5% of the total sales of spirits in the Philippine market. The US distilled
spirits industry contributed to more than USD113bn of US economic activity
and over 1.2m jobs in 2007.
.
New On The Lowtax Network Today
This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
One of the web's
largest and most authoritative business and investment information
sources. Alongside topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
Our 16 constantly
updated intelligence reports cover every important aspect
of 'offshore' and international tax-planning in depth, including
banking secrecy, the EU's savings tax directive, offshore
funds, e-commerce, offshore gaming and transfer pricing. Reports
are available for immediate downloading or as subscription
services with news pages.
IMPORTANT NOTICE:
THE LOWTAX NETWORK has taken reasonable care in sourcing and presenting
the information contained on this site, but accepts no responsibility
for any financial or other loss or damage that may result from its use.
In particular, users of the site are advised to take appropriate professional
advice before committing themselves to involvement in offshore jurisdictions,
offshore trusts or offshore investments. All materials on this site copyright
The Lowtax Network 1999 - 2009. Contact
us for further information.
USA-TAX-NEWS.COM 
