Mithilesh Mehta

News

Canadian Bankers Applaud US Tax Treaty Amendment 09/26/2007

The Canadian banking industry has applauded the governments of Canada and the United States for eliminating withholding tax on interest payments in their revision of the tax treaty between the two countries.More....

Antigua Likely To Spurn US Gaming Compensation Offer 09/26/2007

In the long-running spat between the USA and Antigua and Barbuda over the latter's exclusion from America's gaming market, the USA has now made an offer to Antigua and seven other countries which joined with it in protesting the USA's abrogation of its WTO treaty commitment.

The dispute between the two countries began when the US took legal action against the owners of Antiguan gaming businesses and Antigua opened a case against it at the WTO. After a three-year process, the WTO ruled against the USA, which promptly decided to sidestep the ruling by the WTO dispute resolution panel in favour of Antigua by simply rescinding one of its services agreements. "We did not intend and do not intend to have gambling as part of our services agreement," stated Deputy US Trade Representative John K. Veroneau, in an announcement that shocked many observers. "What we are doing is just clarifying our commitments."More....

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