Incepted in 1993, with its headquarter in Washington DC, the United States, The International Tax and Investment Center, ITIC a Non Profit Organization kicked off its voyage with a view to offer research based educational services on Tax, Investment and Commercial matters to its associated countries spread worldwide. Since then, the autonomous body is focused on analysis of existing tax structure and their necessary amendments, training and advisory services in order to facilitate its client companies bring forth newest tax policies which can eventually lead to healthy business practices nationally and globally. Having been equipped with top notch Analysts, Economists, Researches and Tax personalities the esteemed American Enterprises is a pioneering group that has come with the unique podium enabling the private enterprises, public sectors and experts of ITIC to sit together, share ideas and analysis the potential of changing tax and investment policies to stay globalized.
The whole idea of this decision-making platform is letting the interested associate nations come forward and undergo open and explicit discussion sessions whereas the expert pool of International Tax and Investment Center is prepared to contribute their ideas, expertise and recommendations leading to the best practices. As of day, in ITIC’s unique network, there are 85 affiliated countries and the platform is supported by the global financial bodies like International Monitory Fund, World Bank Organization and some other key financial enterprises. When it comes to the major sponsors, the community is backed by the high profile enterprises from Automobile, Tobacco, FMCG, Alcohol and Oil fields having global presence.
In order to motivate and boost free & fair global trade, healthy commercial relationship and open economy the experts of International Tax and Investment Center appeals all its associate countries to think of unbiased trade rules, transparent business policies and balance in business regulation internationally. As this would develop healthy business economy worldwide which is a key plus point in open trade, it has not ignored the possible risk factors like illicit trade practices in open trade structure. According to ITIC experts that as open trade is likely to inspire illegitimate business practices leading to significant revenue loss for the country, this can be effectively handled by the authorities if proper actions are taken with necessary measures.
Incidentally, the vigilant community has warned some of its associate European countries in connection with the inflowing of illegal cigarettes across the borders. Importantly, as per its study that more than 10% of unlawful cigarettes are coming from outside into the European market making billions of tax losses to the Government. In the latest times, the ITICnet.org has come with its newest mechanism Regional Cooperation Agreements (RECs) guiding principles in order to motive its fair trade policies all across the world.
Notably, the expert group has played vital role to work in combination with the professionals of EAC or East African Community, the Eurasian Economic Community or AEC, South African Development Organization and ASEAN Economic Community and helped them considerably to get constructive transformations in their Tax, Investment and Commercial policies. Daniel Witt, President ITIC and his expert group of people are extremely optimistic to produce healthy trade policies in global business economy, in no time.