Taxation and trade Sample Clauses

Taxation and trade. In the Review Session of 1954-55, the CONTRACTING PARTIES considered a proposal to add to the General Agreement an article on double taxation.44 In 1968, the Council, acting under paragraph 1 of Article XXV, established a Working Party to examine the provisions of the General Agreement relevant to border tax adjustments, the practices of contracting parties in relation to such adjustments and the possible effects of such adjustments on international trade.45 During its meetings the Working Party examined the nature of direct and indirect taxes and their effects on international trade, and deliberated on standards for their adjustment at the border. See the 1971 Report of the Working Party on “Border Tax Adjustments”.46 Following the report, the Council introduced on a provisional basis a notification procedure and established a consultation procedure whereby, upon request, a multilateral consultation could take place on changes in tax adjustments. No such consultation has so far been requested.47
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