International trade

Multimodal transportation document-indemnity limits in case of damage/loss of goods as result of transport operations and automatic information exchange: The new international scenario.
Multimodal transportation document-indemnity limits in case of damage/loss of goods as result of transport operations

As a legal framework related to the intermodal transport is still lacking both nationally and internationally, there are currently two publications from the Chamber of Commerce and Industry of Paris governing freight transport and specifically Publication No. 298 and Publication No. 482 entitled “Unctad/ICC Rules for Multimodal Transport Document.” Which operational/legal differences related to the indemnity limits of contractual carriers in case of damage/loss of goods as result of transport operations distinguish the two publications? Would the effective date of the carrier’s liability—for example, the dies a quo and the dies ad quem (the day which a transaction begins and the day in which it is completed) — also be different? Finally, should an express reference to the two publications for binding the contracting parties be made in the contract as being part of the compact law?

Automatic information exchange: the new international scenario

“Automatic information exchange” and “transparency” are two keywords identifying the symbol of the new international fiscal scenario. The FATCA regulation adopted by the USA intended to clamp down on evasion and protect the (American) tax amount, ensuring that the “partner” States reported the American citizens holding financial accounts at foreign financial intermediaries, marking a turning point in the field of cooperation between tax administrations and representing a significant driving factor. The OECD replied to the USA’s initiative by adopting new international standards for the data exchange area (the so-called “Common Reporting Standard”), in a similar manner to the criteria applied by the American discipline. Furthermore, the European legislation evolved coherently, with an updated EU Directive for matters of administrative cooperation.

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