POLICIES & REGULATIONS

New UK Legislation Announced to Unilaterally Change Northern Ireland Protocol

01 June 2022

The UK's foreign secretary Liz Truss has delivered an oral statement to the UK Parliament, in which she announced the UK’s intention to introduce legislation in the coming weeks to make (unilateral) amendments to the Northern Ireland Protocol, while also stating that the UK’s preference remains a negotiated solution with the EU. Should the amendments be adopted, this could trigger a trade war with the EU. More

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OFAC Issues Mainland China Sanctions Regulations

17 February 2022

The Office of Foreign Assets Control has issued the Chinese Military-Industrial Complex Sanctions Regulations to implement Executive Order 13959 of 12 November 2020, as amended by EO 14032 of 3 June 2021. These regulations, which are effective as of 16 February, include provisions on prohibited transactions, licences, authorisations, statements of licensing policy, penalties, reports and procedures. More

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Post-Brexit Renegotiation of Northern Ireland Protocol Continues in EU-UK Bid to Reach Agreement

15 February 2022

On 11 February 2022, the UK's foreign secretary Liz Truss and the European Commission’s Vice-President Maroš Šefčovič failed to reach agreement despite in-person negotiations over the existing Northern Ireland Protocol. The two sides have vowed to continue negotiations intensively, with a view to amending the existing deal. More

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SINGAPORE: Competition Regulator Issues Guidance Note on Business Collaborations

28 January 2022

The Competition and Consumer Commission of Singapore (CCCS) released a Business Collaboration Guidance Note (Guidance Note) on 10 January 2022 on business collaboration and potential breaches of the Competition Act 2004. More

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MEP Drafts Complete Overhaul of EU Carbon Boarder Levy

25 January 2022

The Member of the European Parliament (MEP) in charge of negotiating the proposed EU Carbon Border Adjustment Mechanism (“CBAM”) on behalf of the European Parliament has recommended far-reaching changes to the draft law which had been put forward by the European Commission last summer. The amendments include a wider product scope, a quicker roll-out and the creation of a new EU agency. More

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VIETNAM: Amendments to Rules on Import Goods Labelling

19 January 2022

Vietnam has issued amendments to goods labelling rules, which come into force on 15 February 2022. More

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Binding Acceptance Period of Nine Months for EU Digital COVID-19 Vaccination Certificates

14 January 2022

The European Commission has adopted Commission Delegated Regulation (EU) 2021/2288, amending the Annex to Regulation (EU) 2021/953 as regards the acceptance period of vaccination certificates issued in the EU Digital COVID Certificate format indicating the completion of the primary vaccination series. This introduces a harmonised nine-month period of validity of vaccination certificates across the EU. The new rules will become applicable from 1 February 2022. More

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Guidance Published on EU Law Concerning Unfair Business-to-Consumer Commercial Practices

13 January 2022

Just before the onset of the new year, a Commission Notice was published in the Official Journal which is relevant for Hong Kong sellers of consumer goods within the EU. The notice is titled “Guidance on the interpretation and application of Directive 2005/29/EC of the European Parliament and of the Council concerning unfair business-to-consumer commercial practices in the internal market”. More

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Proposal Presented for EU Directive on Minimum Taxation of Multinationals

12 January 2022

The European Commission has presented a proposal for a new Directive which would ensure a minimum effective tax rate for the global activities of large multinational groups. The proposal aims to implement the recent global tax reform agreement which, in turn, aims to bring fairness, transparency and stability to the international corporate tax framework. Any business or person interested in providing feedback to the Commission’s proposal for the Directive may do so by 1 March 2022. More

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Mexico Issues Foreign Trade Rules for 2022

29 December 2021

Mexico’s Tax Administration Service (SAT) recently issued its foreign trade rules for 2022, which set forth a range of requirements for Mexican importers and exporters. More

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