Aabi Chartered Accountants

EU's Tariffs on Chinese Electric Vehicles (EVs) The European Union (EU) has decided to impose new tariffs on Chinese-made electric cars after an investigation concluded that Beijing’s subsidies unfairly undercut European automakers. The new duties, which will last five years, aim to protect the EU’s auto industry, employing around 14 million people. Key Points: Controversy & Opposition: Germany and Hungary opposed the tariffs, fearing retaliation from China and trade tensions. France supported the decision, advocating for stronger trade protection. The tariffs passed despite lacking majority support from all EU members. Impact on Companies: Tariffs will apply to both Chinese automakers like Geely (facing an 18.8% duty) and foreign firms producing in China, such as Tesla (7.8% duty). Germany’s auto industry, including Volkswagen, criticized the decision, warning of economic harm and job losses. Volkswagen recently announced plans to close factories in Germany and reduce jobs. China’s Reaction and Retaliation: China condemned the EU’s tariffs as protectionist and has begun retaliatory measures, such as imposing duties on EU brandy and investigating subsidies on dairy and pork products. Both sides are still negotiating, but gaps remain. Broader Trade Tensions: In addition to EVs, the EU is investigating Chinese subsidies for solar panels and wind turbines. Other countries like the U.S. and Canada have already imposed higher tariffs on Chinese EV imports. These measures are expected to take effect by the end of October 2024, with the possibility of lifting the tariffs if negotiations between the EU and China reach a resolution.

🚀 Empowering Businesses in the UAE: Your Growth, Our Expertise At Aabi Chartered Accountants, we specialize in delivering seamless solutions that drive business success across the UAE. 🌟 With over 25 experienced professionals, we are committed to supporting enterprises at every stage of their journey. 🔍 Our Services: 📊 Audit & Assurance – Ensuring compliance with regulatory frameworks through accurate audits. 📈 Accounting & Bookkeeping – Keeping your financials organized and transparent. 💼 Tax Consultancy – Navigating UAE tax regulations with ease and efficiency. 🏢 Business Setup & Company Formation – From registration to licensing, we handle it all. 🔄 Company Liquidation & Management Consulting – Supporting smooth exits and optimized strategies. Why partner with us? ✅ Local Expertise ✅ Tailored Solutions for UAE Market ✅ Commitment to Integrity and Excellence 📧 Let's grow together – Get in touch for personalized support and guidance on building or scaling your business in the UAE. #AuditServices #Accounting #TaxConsultancy #BusinessSetup #UAE #Dubai #BusinessGrowth #CorporateSolutions

🚀 Empowering Businesses in the UAE: Your Growth, Our Expertise At Aabi Chartered Accountants, we specialize in delivering seamless solutions that drive business success across the UAE. 🌟 With over 25 experienced professionals, we are committed to supporting enterprises at every stage of their journey. 🔍 Our Services: 📊 Audit & Assurance – Ensuring compliance with regulatory frameworks through accurate audits. 📈 Accounting & Bookkeeping – Keeping your financials organized and transparent. 💼 Tax Consultancy – Navigating UAE tax regulations with ease and efficiency. 🏢 Business Setup & Company Formation – From registration to licensing, we handle it all. 🔄 Company Liquidation & Management Consulting – Supporting smooth exits and optimized strategies. Why partner with us? ✅ Local Expertise ✅ Tailored Solutions for UAE Market ✅ Commitment to Integrity and Excellence 📧 Let's grow together – Get in touch for personalized support and guidance on building or scaling your business in the UAE. #AuditServices #Accounting #TaxConsultancy #BusinessSetup #UAE #Dubai #BusinessGrowth #CorporateSolutions

Importance of Transfer Pricing and its implications in UAE

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Risk Management Strategies without Hedging

Importance of Transfer Pricing and its implications in UAE