In order to inform companies about the application of the Comprehensive Economic and Trade Agreement (CETA / CETA), the Quebec Federation of Chambers of Commerce (FCCQ) offers a program of training and conferences, in the form of a “tour”, in the main regions of Quebec.
During March, ASD Group’s European VAT expert in Canada, Arnaud Philibert, participated at several conferences in Montreal, Quebec City and Trois-Rivières alongside Canadian ambassadors, delegates from Quebec and the Canadian Minister of International Trade, Mr Champagne .
WHAT IS CETA / CETA?
The Comprehensive Economic and Trade Agreement is a free trade agreement between the European Union and Canada. It has been provisionally applied since 21 September 2017, awaiting its full entry into force, which will be voted on by all the parliaments of the EU Member States, which could take a few years.
The aim of this agreement is to define a common regulatory framework and to facilitate trade between the EU and Canada, notably through the elimination of customs duties, which will become a considerable advantage for European companies wishing to develop their trade on the other side of the Atlantic.
Due to this agreement, it is estimated that trade will increase by more than 20% by 2022.
QUEBEC EXPORTERS’ QUESTIONS CONCERNING THIS FREE TRADE AGREEMENT
The development of Québec’s regions is mainly based on Québec’s international trade and the dynamism of Québec’s exports. During the Quebec tour “Do business with Europe!”, ASD Group has given several speeches at conferences in Canada enabling companies to learn more about CETA and VAT in the EU.
There are many questions today concerning the impact of this agreement from a tax and customs point of view: how does VAT function in Europe? Will customs duties and VAT on imports be removed? In what currency will Canadian companies display their prices?
To learn more about the Comprehensive Economic and Trade Agreement, check out our dedicated articles:
Do not hesitate to contact ASD Group as part of your international exchanges between Canada and Europe, our experts will be delighted to accompany you.