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The International Chamber of Commerce (ICC) has published guidance on international best practices for Value Added Tax (VAT) implementation. As the world business organization, the International Chamber of Commerce (ICC) promotes international trade, responsible business conduct, and a global approach to regulation. In today’s interconnected global economy, value added tax (VAT) has become an increasingly important source of revenue for countries worldwide. With more and more countries implementing or reforming existing VAT regimes, ICC has published the ICC International Best Practices and Guidance on Value Added Tax Implementation to provide a common roadmap for tax administrations and business before, during, and

On behalf of 45 million companies worldwide, the International Chamber of Commerce has issued a declaration setting out a vision to shape the future of global business for the next century. Mirroring the declaration issued 100 years ago by ICC’s “Merchant of Peace” founders, the declaration sets out guiding principles for ICC as a purpose driven international organisation, working with renewed purpose to make business work for everyone, every day, everywhere. Issued upon conclusion of the world business organization’s Centenary Summit in Paris today, the declaration endorses Intergovernmental Panel on Climate Change findings on the urgent need to keep the global

The International Chamber of Commerce World Chambers Federation (WCF) is pleased to announce the publication of revised Certificate of Origin (CO) guidelines. Today, ICC WCF has launched a revised version of its International CO guidelines, which aims to provide chambers of commerce and exporters with updates on new processes, including digitalisation of the CO process. Since 1953, ICC has consistently advocated for a common definition to determine the origin of manufactured goods to improve trade efficiency, protect intellectual property, and ensure product safety. ICC WCF’s efforts to establish an international standard on certificates of origin came to fruition in 2006 with

The International Chamber of Commerce (ICC) participated at the 2019 Copenhagen Fashion Summit on 15-16 May to encourage fashion brands to implement sustainable and equitable business practices. As a Permanent Observer to the United Nations, ICC is committed to ensuring that business consumption and production patterns align with the UN Sustainability and Development Goals (SDGs) set forth by the UN 2030 Charter. In December 2018, ICC became a signatory of the UN Climate Change (UNFCCC) Fashion Industry Charter for Climate Action, which aims to address the climate impact of the fashion sector’s global supply chain. By recognising this need for change, ICC joined global

On 20 May 2019, the International Chamber of Commerce (ICC) signed a Memorandum of Understanding (MoU) with the Brand Protection Group Brazil (BPG) to bolster cooperation in the fight against counterfeiting and piracy in Brazil. Signed on behalf of ICC’s Business Action to Stop Counterfeiting and Piracy initiative (BASCAP), the MoU serves as a guiding framework for cooperation between both parties to develop and implement programmes that will strengthen enforcement of anti-counterfeit laws and measures and raise public awareness of the related harmful impact. The objective of the MOU is to foster increased collaboration in the fight against counterfeiters that will benefit Brazil’s consumers

International Chamber of Commerce Secretary General John W.H. Denton AO has issued a letter to Environment Ministers of all United Nations’ Member States calling for bold, forward-looking recommendations from its third and final substantive session to be brought to the United Nations’ General Assembly in New York. The ad hoc, open-ended working group, was formed under the General Assembly Resolution ‘Towards a Global Pact for the Environment’ for deliberations on a technical and evidence-based report identifying and assessing possible gaps in international environmental law and environment-related instruments, with a view to strengthening their implementation. The final session begins on 20 May

The International Chamber of Commerce [ICC] has published a policy paper on co-operative compliance and issued recommendations on Accredited Tax Payers (ATPs) to improve trust and create confidence in tax systems. ICC supports measures aimed at increasing tax certainty to create a more favourable environment for trade and investment.  As such, ICC is committed to fostering trust and efficient co-operation between governments and business to improve tax administrative efficiency and enhance certainty for investment. The benefits of Cooperative Compliance As part of this commitment, ICC has issued a policy paper on the benefits of co-operative compliance, a concept that builds on

The International Chamber of Commerce (ICC) is warning users of Incoterms® rules to be aware of fake information and training sessions on Incoterms® 2020, offered by groups not affiliated with ICC. ICC has been responsible for the creation and maintenance of the Incoterms® rules since their release over 80 years ago and is preparing to launch Incoterms® 2020 later this year. But information or training sessions claiming to explain Incoterms® 2020 has already begun to emerge on a number of websites from non- ICC affiliated providers. Misuse of the Incoterms® rules can lead to costly mistakes, making it essential to learn about the renowned terms

After receiving 73 submissions, 16 chambers of commerce are moving on to the final round of the World Chambers Competition. Representing 11 countries, the selected chambers will each have the opportunity to present their innovative initiatives to the global network of chambers attending the 11th edition of the World Chambers Congress in Rio de Janeiro, Brazil from 12-14 June 2019. Taking place in conjunction with the World Chambers Congress, the World Chambers Competition is the only award programme of its kind to recognise pioneering projects undertaken by chambers from around the world. With more than 1,200 delegates from over 110 countries in attendance, the

In a letter published in the Financial Times today, International Chamber of Commerce Secretary General, John W.H. Denton has called for an urgent, systemic response to the challenge of digital protectionism. Responding to anticipated Chinese curbs on data transfers, Mr Denton highlights how the balkanization of data flows and digital services by major economies could be averted through negotiation of new rules on e-commerce under the auspices of the World Trade Organization, which 75 governments signed up to in January. Mr Denton said that the talks – welcomed by ICC as a major step forward in efforts within the WTO to enable e-commerce