Progressive Agreement for Trans-Pacific Partnership – news
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect Wednesday in Brunei, the last of the original 11 signatories to implement the trade pact.
The United Kingdom is set to officially join the agreement on Sunday at a CPTPP ministerial-level commission meeting in New Zealand, which will extend to Europe an economic zone that originally comprised Pacific rim countries.
The CPTPP, which includes Japan, will phase out tariffs on nearly all items. The agreement is characterized by a high level of liberalization, including protection of intellectual property rights, and restrictions on data distribution and excessive subsidies to state-owned enterprises.
Although the combined gross domestic product of CPTPP member countries is less than that of the 15 members of the Regional Comprehensive Economic Partnership (RCEP) — which includes Japan, China and South Korea. However, such trade pacts are expected to increase business transactions beyond goods trade.
Negotiations for a trade pact based around the Pacific rim began in 2010 with the United States and seven other countries, and Japan joined the group in 2013.
In 2016, 12 countries signed the agreement. But in 2017, then U.S. President Donald Trump withdrew the United States from the pact. As a result, the remaining 11 countries negotiated a new agreement.
The CPTPP entered into force in six countries in 2018, and since then, the other five original signatories have implemented the agreement in turn.
The United Kingdom will be the first new member of the pact. Britain has been looking for trade partners outside Europe since leaving the European Union in 2020. It applied for CPTPP membership in February 2021 and received the green light from the 11 signatories in March.
Britain’s participation will increase the global GDP share of CPTPP members from 12% to 15%, and the total population from 510 million to 580 million.
“Britain’s accession will contribute to further promoting free trade, open and competitive markets and a rules-based trading system,” economic revitalization minister Shigeyuki Goto told reporters Tuesday.
Britain concluded an Economic Partnership Agreement (EPA) with Japan in 2021. Countries such as Malaysia that have not yet signed such agreements with the United Kingdom will be able to increase trade via the CPTPP. And as a result, Japanese companies in those countries might also be able to strengthen supply chains and expand business opportunities.
China, Taiwan, Ukraine and others have applied to join the CPTPP. Kyiv is thought to be aiming to secure support and investment from member countries with a view to reconstruction after the Russian-triggered war in Ukraine. Meanwhile, Beijing is expected to become the biggest focus of accession talks.
China’s huge market has raised expectations in some quarters, but others think Beijing’s subsidization of state-owned enterprises is a problem. There is also a strong sense of caution about the threat of economic coercion, such as trade curbs, to apply pressure on other members.
Consensus among member countries will be necessary to begin accession talks. If China is allowed to join, America’s return to the pact — which Japan and other countries are seeking — may become more difficult.
Goto, who handles CPTPP affairs, said Tuesday, “We will deal with new memberships while evaluating if they are ready to fully meet [the high level of liberalization in] the agreement.”
Osamu Tanaka, chief economist at Dai-ichi Life Research Institute Inc., said: “With Britain’s accession, the CPTPP has the potential to become a global framework. However, we have yet to see contenders for disucssions on the next accession.”
ca: japannews.jomiuri
2024. Január 1-től, új szabály lép életbe magyarországon a cégekkel kapcsolatban:
Új szabályok jönnek a cégeknek januártól, ami egyszerűbbé és átláthatóbbá teszi a vállalatok pénzügyeit. Ezek a változások különösen fontosak lesznek a bankok és más hitelezők számára.
- Új jellemzők a cégek adatlapján: A változások lehetővé teszik, hogy a cégek adatlapján feltüntessék, ha valamilyen korlátozás van a cég tulajdonában (pl. nem adhatják el vagy terhelhetik meg bizonyos részeit), és hogy milyen egyéb más korlátozások vannak a cégen, Ez segít a hitelezőknek könnybben, gyorsabban és jobban megérteni, milyen jogokkal és korlátozásokkal találkozhatnak, ha kölcsönt akarnak nyújtani egy cégnek.
- Részletesebb információk a zálogjogról: Ha egy cég biztosítékot nyújt a hitelezőinek (pl. a cég részét használják fel zálogként egy kölcsönért cserébe), vagy csak hitelt vesz fel egy cég, az új szabályok szerint a felvett hitel részleteit is fel kell tüntetni a céginformációk között. Ez azt jelenti, hogy a hitelezők, a versenytársak, és a vásárlók is pontosabban láthatják, mennyit ér az adott cég biztosíték, és hogy milyen forrásból él vagy fejleszt a cég, (éppen milyen pénzügyi helyzetben van a cég) amelyet a nyilvános adatbázisból lekérve, 2024. Január elsejétől mindenki díjmenetesen meg tud nézni.
Lásd: https://www.e-cegjegyzek.hu/?cegkereses
3. Nagyobb átláthatóság és biztonság: Ezek a változások segítenek a cégeknek és hitelezőiknek jobban átlátni a cégek pénzügyi helyzetét. Ezáltal könnyebben dönthetnek arról, hogy kölcsönt adjanak-e a cégnek, és ha igen, akkor azt milyen feltételekkel.
Összességében ezek a változások hozzájárulnak a cégek és hitelezőik közötti nagyobb átláthatósághoz és biztonsághoz, ami elősegítheti a jobb pénzügyi döntéseket és az üzleti kapcsolatok fejlődését.
Januártól ismét egy új szabály érinti a magyar vállalkozásokat: kötelezővé válik számukra a környezetvédelmi felelősségbiztosítás is.
Ez a követelmény minden olyan vállalkozásra vonatkozik, amely évente meghatározott mennyiségű hulladékot termel:
- Nem veszélyes hulladék: 2000 kg felett
- Veszélyes hulladék: 200 kg felett
- Nem veszélyes építési-bontási hulladék: 5000 kg felett
Akár kisebb üzletek, éttermek, szálláshelyek, fodrászatok vagy kozmetikák is érintettek lehetnek, ha a heti hulladéktermelésük meghaladja a 38 kg-ot, ami éves szinten 2000 kg.
Ennek a biztosításnak a célja, hogy ha a vállalkozások tevékenysége környezetszennyezést okoz, legyen pénzügyi fedezet a károk helyreállítására és a környezetvédelmi kötelezettségek teljesítésére. A biztosítás minimum összege 10 millió forint. A már korábban ilyen biztosítással rendelkező vállalkozásoknak is frissíteniük kell szerződéseiket az új előírásoknak megfelelően.
2023.12.28.
16.11.2023
We are presented at our new extra start-up package offers:
11th October 2023.
New Email Address – For you!
Dear Customer!
Today we are pleased to announce the launch of our new email registration service!
Starting today, if you want to create a special email address for yourself or your company, you can do it with us!
In keeping with the Symfalogic Corporation name, we are offering the domain name symails.com for use by our valued customers.
Check out our website at https://symails.com!
Register an email address for yourself or your new business with us!
Use the registration form to send us your new username and we will send you the login details the same day!
The product is under continuous development, so we will periodically come up with new additions and solutions.
We hope you will enjoy using our new product!
Best regards,
Mr Gabor Nemeth
Symfalogic Corporation
CEO
Holiday
Dear Customers,
Please be informed that we are on holiday from 1 to 18 September.
However, the office will be on call to deal with urgent matters, should you need anything, we will be available on a limited basis during this period.
From 18 September, however, we will be back in full force to serve our valued clients.
Thank you
Kind regards,
Mr Gabor Nemeth
Symfalogic Corporation
CEO
25.08.2023
Dear Customers,
We have a new information on our client portal. Please log in and have a look.
Regards,
Mr Gabor Nemeth
Symfalogic Corporation
CEO
16.07.2023.
Kemi Badenoch signed the CPTPP agreement
The UK will only see the full benefit of a new trade deal with 11 Asia and Pacific nations if we use it, the Business Secretary has told the BBC.
Kemi Badenoch’s comments came after she signed off the deal with a trade area that covers about 500 million people.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership – or CPTPP – was established in 2018, and includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Membership of the CPTPP loosens restrictions on trade between members and reduce tariffs – a form of border tax – on goods.
It is hoped that joining the group will boost UK exports by cutting tariffs on goods such as dairy and meat products, cars, gin and whisky.
Together, the 11 members account for about 13% of the world’s income and the UK has become the first European country to join.
Despite this, the government’s own estimates indicate being in the bloc will only add 0.08% to the size of the UK’s economy in 10 years.
The Office for Budget Responsibility (OBR), which provides forecasts for the government, has previously said Brexit would reduce the UK’s potential economic growth by about 4% in the long term.
Ms Badenoch said there was “so much potential” from joining the group.
“This is the fastest growing region. The Asia Pacific is going to be responsible for at least 50% of global growth that we’re expecting between now and 2035.”
The treaty will be scrutinised and ratified by members before coming into force, which could take at least a year.
As it announced the signing of the deal, the government said CPTPP-owned businesses employed about 400,000 people across the UK.
It also said that CPTPP companies “punch above their weight economically”, as while they account for 0.3% of all businesses in the UK, they generate 6.1% of total turnover.
Business lobby group the British Chambers of Commerce (BCC) said the deal was “good news for UK businesses to enter or upscale their trade in these markets”.
“We see particular relevance for small- and medium-sized businesses in reduced costs to import components from member countries to use in manufactured goods for export,” said William Bain, the BCC’s head of trade policy.
US deal
Questioned on why the UK has not yet signed a free trade agreement (FTA) with the US, Ms Badenoch said that was due to the change in government.
“Yes, it was expected that we would sign an FTA with the US, but that was with a different president. You cannot force a country to do something if its administration changes.”
On the issue of whether China should be allowed to join the CPTPP, Ms Badenoch said that was “one of the things that we have been discussing”.
However, when pressed on whether the UK should veto China’s membership, as some have suggested, she said: “When you join a club, the very first thing you don’t do is tell the other club members who should be or shouldn’t be allowed to join.”
BBC
12.06.2023
Dear Customers,
We are delighted to announce that we now offer new banking account access options. This change is not a random decision but a result of our close relationship and constant communication with our customers.
In recent times, many of our clients have expressed their desire for simpler and more accessible bank accounts. Taking these feedback into account – as our goal has always been to meet our customers’ needs – we have decided to implement this opportunity.
From now on, you no longer have to consider conversion fees, as we are now able to receive your transfers in the desired currency. If you are opening a new market or expanding into a new country, please specify the currency in which you wish to initiate the transfer, and we will send you the corresponding invoice for settlement. It’s as simple as that, starting today.
All our bank accounts can be tracked on our central website under the “Contact” section. We regularly update the list as our customers open new businesses or enter new markets.
We thank you for sharing your feedback and contributing to the continuous improvement of our services. We hope that our new bank accounts will make your financial transactions easier and faster.
Please do not hesitate to contact us if you have any questions.
Thanking you for your assistance,
Best regards,
Mr Gabor Nemeth
Symfalogic Corporation
CEO
04.05.2023
Dear Our Customers!
We will make the changes in more phases over the next 6 months:
There may be interruptions, for which we sincerely apologize.
Thank you in advance for your understanding and assistance!
Kind regards,
Mr Gabor Nemeth
Symfalogic Corporation
CEO
17.04.2023
Dear Our Customers!
We will make the changes in more phases over the next 6 months:
As a second step, we will change our company’s bank accounts from April 17, in line with the international trend.
In the next few days, we will send out our new bank account information to everyone.
Please make sure that you change the new bank details in your own bank’s database to ensure that your payments continue to run smoothly in the future.
Thank you in advance for your understanding and assistance!
Kind regards,
Mr Gabor Nemeth
Symfalogic Corporation
CEO
01.04.2023
Dear Our Customers!
We will make the changes in more phases over the next 6 months:
As a first step, we change our server.
The server change may cause errors or interruptions in the operation of the customer portal, for which we sincerely apologize.
Thank you in advance for your understanding and assistance!
Kind regards,
Mr Gabor Nemeth
Symfalogic Corporation
CEO
CPTPP: top 10 benefits for the UK
(31.03.2023)
1. A gateway to growth
CPTPP is a vast free trade bloc consisting of 11 sovereign countries spanning the Asia Pacific and the Americas. It is a gateway to the wider Indo-Pacific region, which will account for the majority of global growth and around half of the world’s middle-class consumers in the decades to come. Joining will strengthen our ties with some of the world’s most dynamic economies, with a combined GDP of £11 trillion once the UK joins.
CPTPP was created to expand and as it grows the UK will stand to benefit from access to new markets. Economies including Costa Rica, Ecuador and Uruguay have formally applied to join CPTPP. Thailand, the Philippines, and South Korea have also expressed an interest in joining. If these economies were to join CPTPP with the UK, the combined GDP would increase to just over £13 trillion, an expanded group which covered 10% of all UK exports in 2021. Accession puts the UK at the heart of a dynamic group of sovereign countries, including Vietnam which is predicted to be one of the fastest growing economies in the next decades.
2. Opening new markets for UK services providers
CPTPP is one of the most modern trade agreements in the world, with ambitious services provisions that are ideally suited to the UK; the world’s second largest service provider. The UK already sells more services than we do goods to CPTPP members, worth £31.9 billion, including £2.3 billion in business services such as auditing, accounting and legal services to Australia, £1.3 billion in transportation services to Singapore, and £1.4 billion in insurance services to Canada.
Red tape will be slashed and UK businesses will be operating on a par with local firms, bringing new benefits to the UK businesses like greater certainty around licensing procedures and ensuring independent and impartial regulators. Companies such as Standard Chartered and their clients are likely to benefit from smoother access to markets such as Singapore, Malaysia and Vietnam.
3. Data flows
Digital trade is creating a new global economy, with remotely delivered services from the UK to CPTPP worth £20.5 billion in 2020. Data flows are vital for modern trade, enabling everything from more efficient manufacturing and supply chains to more reliable infrastructure. Joining CPTPP will help remove the barriers our companies face like data localisation requirements, ensuring data can flow between the UK and CPTPP members.
The City of London Corporation says accession to the bloc will help the UK become a leader in digital trade, with modern rules on data and freer access to each other’s services sectors. The bloc is committed to the highest data protection standards so British business can expand into CPTPP markets with confidence, ensuring that individuals and businesses know their data and intellectual property are safe.
4. Benefitting UK exporters: cutting tariffs on goods exports
Over 99% of our goods exports to CPTPP member countries will be eligible for zero tariffs, improving goods market access for British firms. Businesses selling key UK exports such as cars and machinery will benefit from the removal of tariffs. In the long run, joining CPTPP could lead to a £1.7 billion boost to UK exports to other CPTPP countries. Exporters of dairy products, including cheese and butter, will get greater access to lower tariffs in Canada, Japan and Mexico, building on the £23.7 million of dairy products we exported to these countries in 2022; and exporters of chocolate will benefit from zero tariffs on exports to Mexico and Malaysia.
The removal of tariffs should also help UK businesses, such as Derbyshire-based Denby Pottery, be more competitive and reach CPTPP’s vast consumer base. Companies like the Conker Distillery could gain from new opportunities to export their Conker Coffee Liqueur.
5. Benefitting UK exporters: new opportunities from diversifying supply chains
Diversifying British supply chains will give businesses the ability to increase economic resilience by deepening our trading links across the Asia-Pacific and Americas. Modern ‘rules of origin’ should make British businesses more competitive by allowing them to trade more freely across the bloc and take advantage of new export opportunities. For example, UK automotive manufacturers could sell car engines tariff-free to a car maker in the bloc, who could then sell their cars tariff-free to any member country. This will also help exporters diversify their supply chains, making it easier for companies to buy and use raw materials from across the bloc.
6. Benefitting the whole of the UK
CPTPP will support jobs and create opportunities for UK businesses in every part of the UK, from beverage producers in Scotland, to manufacturers of machinery in Wales, to car manufacturers in Northern Ireland and the West Midlands. Total UK exports to CPTPP countries were worth £60.5 billion in the 4 quarters to the end of Q3 2022.
Joining the bloc will help companies like Wales-based AI company, AMPLYFI, reach new markets through CPTPP’s ambitious services and digital provisions. CPTPP could also benefit companies including Northern Ireland-based Lowden Guitars and Scotland-based Cyacomb to grow their exports to new markets.
7. A trade deal with Malaysia for the first time
CPTPP goes above and beyond the existing FTAs that we have with most CPTPP members. And joining CPTPP means the UK will have a trade deal with Malaysia, a CPTPP member, for the first time. This will give UK businesses much better access to an economy worth £271 billion in GDP in 2021, which will support jobs across key sectors in the UK and could boost our services exports to Malaysia which were worth £1.4 billion in the 4 quarters to the end of Q3 2022.
Tariffs of around 80% will be eliminated on UK exports of whisky to Malaysia over time, helping the UK to get a larger share of the market. UK car manufacturers will also benefit from the staged removal of tariffs of up to 35% on UK exports of cars to Malaysia. UK businesses like Sheffield-based chilli paste manufacturer Mak Tok could benefit as it seeks greater access to the Malaysian market.
8. More access to high-quality consumer goods
As a member of a bloc where most goods imports are eligible for zero tariffs, consumers and businesses could benefit from better choice, quality and affordability. This should include cheaper import prices for high-quality consumer goods like fruit juices from Chile and Peru, honey and chocolate from Mexico, and vacuum cleaners from Malaysia.
It could also lead to cheaper import prices for inputs to manufacturing with tariffs eliminated on a wide range of inputs, including machinery and chemicals. Greater access to global supply chains is an important source of competitive advantage for businesses.
9. Strengthening economic security
The UK is helping to ensure its future economic security by joining one of the world’s most dynamic trading blocs while protecting our sovereignty. As CPTPP grows, the UK will help shape its development to fight unfair and coercive trading practices that threaten the future of international trade. British businesses will benefit from enhanced access to more markets while trading under fair rules that allow them to compete and thrive on the global stage.
10. Encouraging investment
In 2021, the level of investment from CPTPP countries in the UK was around £182 billion, accounting for at least 9% of the total UK inward investment. Investment from CPTPP countries supported the creation of over 5,000 new jobs in 2021/2022. Being a member of CPTPP encourages further investment by guaranteeing protections for investors, supporting jobs across the UK.
CPTPP’s rules will help protect UK investors from unfair, arbitrary or discriminatory treatment and enable them to access a modern, transparent dispute settlement mechanism in case these rules are broken. Investors in the UK, including Japanese company Fujitsu, which employs more than 7,000 people in the UK, say CPTPP will help to strengthen the UK’s relationship with countries like Japan.
Britain is joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) free trade organisation.
The agreement was announced by the Prime Minister’s Office in London on 31.03.2023. Britain is expected to join the group later this year, who are with Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
London formally submitted its application to join the CPTPP on 1 February 2021, just one year after the UK’s withdrawal from the EU (Brexit).
The combined annual gross domestic product (GDP) of the CPTPP group of 500 million people, excluding the UK, is approximately $13,500 billion, or about 13.4 percent of the world GDP. With the accession of the UK, this share will rise to 15%.
More than 99 percent of British goods exports to the CPTPP group – including cars, machinery, cheese, chocolate, gin and whisky – can enter member countries with zero tariffs, according to figures cited by the London Cabinet Office. Cars made in Britain currently face a 30 percent tariff in CPTPP countries, while whisky faces an 80 percent tariff. In the twelve months to September last year, Britain – which will be the first European member of the CPTPP – exported a total of £60.5 billion worth of products to the CPTPP market.
The accession agreement, reached after 21 months of negotiations and five rounds of talks, is Britain’s biggest international trade deal since Brexit.
Picture: Statistics Canada
Self Employed – Self Assessment Tax return
– Deadline: 31 January
- for those who are Self-employed
- for those who have earned £ 2,500 or more in taxable income, such as from leasing real estate
- for those whose income from saving or investing exceeds £ 10,000,
- for those whose dividend income on their shares exceeded £ 10,000,
- those who made a profit from selling things like shares, second homes, or other taxable assets (for example, if they sold property they acquired through inheritance) and capital gains tax,
- for those who were a Director of a Company (also in LTD) (unless a non-profit organization was, for example, a director of a charity)
- those whose income (or partner’s income) is over £ 50,000 and one of them has received Child Benefit,
- for those who have earned taxable income from abroad,
- for those who live abroad and had a UK taxable income
- those whose taxable income exceeds £ 100,000, and
- for those who were agents of a Trust or a registered Pension Scheme.
More info: https://symfalogic.com/self-assessment/
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XWP50SKTB
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