solve question 7 (true or false) with explanation asap 6. Countries have different regulations on what may ormay not be imported and which tariff applies to which importedproduct.7. In Japan, about 89 percent of transactions involvecredit cards, and most Japanese have adopted the use of credit cardsfor online purchases.8. All countries welcome a policy of free access toinformation as a means to reaffirm their sovereignty.

Credit card A credit card is a sort of credit facility offered by banks that permits clients to…

Answered: 7. In Japan, about 89 percent of…

International Financial Management

14th Edition

ISBN:9780357130698

Author:Madura

Publisher:Madura

Chapter13: Direct Foreign Investment

Section: Chapter Questions

Problem 7QA

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Which of the following statements is true of foreign trade zone? It is an area through which merchandise is allowed to pass with fewer procedures but higher taxes. These areas provide very limited employment opportunities. International companies can store goods in these zones without incurring taxes, before shipping them to other countries. Goods imported into these zones require import licenses and are subject to import duties.
The United States passed the Foreign Account Tax Compliance Act in 2010 and has been requesting countries to sign up to collecting financial and tax information of US citizens and green card holders for implementation in July 2014. What are the disadvantages for developing countries for having an agreement complying with this Act?
“A major issue would be for the countries implementing VAT is to have the necessary adequate training, technical systems, financial and tax governance and compliance, and other areas in order to meet all requirements.” (https://gulfnews.com/world/gulf/bahrain/bahrain-parliament-approves-vat-agreement-1.2287327, Accessed 13 May 2019) The introduction of VAT in any country impacts the businesses in the country. In October 2018, the Kingdom of Bahrain issued the VAT Law. Q: Illustrate how the new VAT system in Bahrain is impacting businesses.
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7. In Japan, about 89 percent of transactions involve credit cards, and most Japanese have adopted the use of credit cards for online purchases.