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| ARGENTINA |
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| ASIA |
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| CHINA |
ALWAYS UP
FOR COMPARISON: Beijing needs to lop off its top two income tax rates to keep talented workers from
fleeing China, according to a new report from eight academics. China currently
has seven income tax brackets — much like the U.S. — with top two rates of 35
percent and 45 percent. The academics suggested keeping the other five rates,
which top out at 30 percent, referencing the U.S. tax system in the process.
"Mainland China's individual income tax has no advantage even when
compared with the United States, a nation that heavily relies on personal
taxes," the academics wrote, in arguing that the 45 percent rate makes
life difficult for China in the global battle for talent. "The nation's
top legislative body is reviewing a spate of changes on its individual income
tax law, including a rise in monthly exemptions by 43 per cent to 5,000 yuan
(US$738), introduction of more deductibles, broadening access to lower tax
brackets and a shift toward an annual levy," the South China Morning Post
noted on changes expected to take effect next year. [POLITICO's Morning
Tax, July 24, 2018]
 |
| RUSSIA |
Russian
lawmakers won’t
vote on the second reading of
legislation against observing or facilitating foreign sanctions until at least July 2019, according to the newspaper Kommersant. On July
10, State Duma Speaker Vyacheslav Volodin said the bill could come up for
consideration in late July. Apparently he was talking about next year.
The law
would make
it illegal to refuse cooperation with Russian entities because of sanctions imposed by another country.
Such actions could result in fines as high as 600,000 rubles ($9,655) or up to
four years in prison. People who “provide recommendations” or “supply information” “that has led or could lead” to
new anti-Russian sanctions would face fines as high as 500,000 rubles ($8,045)
or up to three years in prison with a 200,000-ruble ($3,220) fine. The State
Duma adopted a first reading of this legislation on May 15, 2018, and deputies planned
to vote on a second reading on May 17, but it was postponed, in order to
conduct “additional consultations with business and expert communities.”
Russian business groups have warned that foreign countries could
target Russian business owners with “secondary sanctions” for obeying the
government’s proposed ban on observing Western sanctions, which would limit
their access to global markets and ultimately hurt the Russian economy.
Organizations have also criticized the criminalization of sharing information
that could facilitate new foreign sanctions, arguing that this could apply to
business people who disclose information about the activities of their business
partners. [The Real Russia. Today. July 12,
2018]
Karina
Tsurkan, the
former top manager at the energy company “Inter,” is being charged with
transferring a Russian Energy Ministry draft report to Moldovan intelligence agents, her lawyer wrote in a Facebook
post on
Wednesday, citing case materials. According to prosecutors, Tsurkan shared an
electronic copy of an “Energy
Ministry draft report on
certain aspects of Russian energy companies’ activities involving international
cooperation.” Specialists reportedly told the Federal Security Service in December
2016 that the information contained in this report constitutes state secrets.
Tsurkan
was born and raised in Moldova. She traded her Moldovan citizenship for
Romanian citizenship in 2016. On July 19, federal agents arrested her on
espionage charges. Sources previously told journalists that she is suspected of
spying for the Romanian government. Tsurkan maintains her innocence. [The Real Russia. Today. July 12, 2018]
 |
| WHIMSEY |
 |
| GREAT BRITAIN |
British PM Theresa
May attends the NATO meeting as a
weakened leader after two Cabinet members resigned in protest of her "soft Brexit" strategy. May, who opposed Britain's exit
from the European Union, found herself in the position of implementing it after
she was elected. Her approach has been to try to maintain some ties to
the EU, fearing that a complete break would devastate the British
economy. But nationalist hardliners like Boris Johnson, another
Trump BFF, wants nothing short of total separation. May quickly appointed
Cabinet replacements and vows to continue the complicated exit negotiations. [Boston Globe, Fast Forward, July 10, 2018]
Musical chairs: The new foreign minister is Jeremy
Hunt,
the former health secretary (Matt Hancock, former digital minister, takes over
Hunt’s old position). Dominic Raab — May’s former housing secretary, and a
Leave supporter — was
appointed
Brexit secretary. [POLITICO Brussels Playbook,
July 10, 2018]
 |
| SCOTLAND |
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| NORTHERN IRELAND |
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| WALES |
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| FRANCE |
France lobbies for a
broader deal: Economy Minister Bruno Le Maire seemed open to the idea of
such a G7-deal or a renewed TTIP, but he said that the United States needed to
"return to reason to respect global rules and to respect their
allies" if it wants serious trade talks.
"We are willing to find a way out of the
current situation but it is up to the U.S. to make the first step," he
said, according to a spokesperson. "It's the U.S. who first raised the
tariffs — they have to be the first" to lower them. [POLITICO's Morning Trade, July 24, 2018]
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| ETHIOPIA |
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| CHAD |
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| SOMALIA |
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| READ |
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| MEXICO |
“El año de la mujer.” They’re
calling it the year of the woman. Mexico gets not only a new president but also
a new Congress. Thousands of state representatives and hundreds of new mayors
were elected from more than 3,000 women candidates. That includes Claudia
Sheinbaum, of López Obrador’s party, elected as the first female mayor of
Mexico City from a field of seven candidates, five of whom were women. But it
may not be a groundswell of feminism at work: Much of the female candidate
turnout can be traced to a 4-year-old law requiring political parties to field
women for half of their races. [OZY Briefing, https://www.ozy.com/topic/special-briefing?utm_source=SpecialBriefing&utm_medium=email&utm_campaign=07022018&variable=f2d3837d0f9ac8b5b1a902911f882778]
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