Icelands Business Laws Essay Example | Topics and Well Written Essays - 1000 words

Icelands Business Laws - Essay ExampleWith the exemption to particular agricultural products, Iceland practices a liberal tack policy. Since creation reviewed back in the year 2000, there has been no major changes made to Icelands import dust in spite of the entry into force of a new customs law on January 1, 2006. MFN (Most Favored-Nation) use tariff in Iceland is 5.9% with a high percentage of tariff lines profit from duty free treatment. In agricultural products, average MFN applied tariffs is 18.3% according to WTO definition in comparison to other goods that is only 2.5%.The trade and investment relations in Iceland occur under preferential rules. Under various free-trade agreements, Iceland offers preferential tariffs on imports from its 37 WTO Member Nations. Despite the fact that Icelands growing number of preferential agreements may be diminish by the nations application of the Pan-European Cumulation System for rules of origin, this has increased the complexity of its trade system.Other outside factors affecting imports in Iceland include a value-added tax, excise taxes, and some other specific charges. Generally, such charges is considered a burden to diminished economies like Iceland and is significantly heavier than that of the tariffs themselves falling mostly on imports as Iceland depends on imported products in coming together most of its domestic needs. Export restrictions are practiced by Iceland with the purpose of protecting human and creature health. One specific example is the requirement that should be met by producers of lamb meat to export a percentage of their production in regulating the domestic supply. As a result, export goods made from agricultural raw materials gain from a refund equal to the difference between the cost of raw materials in the international and domestic markets. Icelands law permits the establishment of free zones. Apart from agriculture, aid coming from the state is wretched and is generally of a horiz ontal nature due to the fact that it is focused mainly on look for and development, support of small and medium-sized businesses, training, and job creation.Icelands Environmental ProtectionIceland had learned a lesson from the 1783 volcanic eruption and honorable how much it cost to the environment. The environmental disaster has been described as an amazing and portentous one and full-of-the-moon of horrible phenomena (White 1789). The article of Brayshay and Grattan (1995) indicated that the emissions from Icelandic volcanic eruptions are capable of causing serious environmental distress, hint alarm and panic among the population in locations far from the source. Grattan and Charman (1994) added that the palaeoenvironmental implications of this episode have been considered elsewhere, however the full invasion on Britain was clearly profound and more work is needed to examine the wider European picture. The question being thrown for the future will be to seek more systematic evidence of crop damage and the impact of adverse weather on food prices. Nevertheless, valuable information that greatly extend our familiarity not only of the impact of volcanic eruptions on distant societies and ecosystems have been made available on contemporary newspaper and journal accounts that also provide some new light on the citation of the responses of those communities