The International Chamber of Commerce (ICC) has prepared this policy statement to urge the international community and policy-makers, including legislators and regulators, as well as courts, to focus renewed attention on the negative impact that the extraterritorial application of national laws has on international commerce. ICC has established a task force to examine this subject and will issue a more detailed report.
A barrier to cross-border trade and investment
ICC is strongly committed to promoting cross-border investment and trade as indispensable elements of sustainable economic development and world growth. Clear and predictable rules of law are essential to achieve these objectives.
The increasing globalization of business and expanding regulation of commerce by states have led to a significant rise in the extraterritorial application of national laws, with states frequently applying or seeking to apply their laws and regulations to persons or conduct outside national borders.
Although in some instances this extraterritoriality is an outgrowth of states’ efforts to combat terrorism, crime, corruption, cartels, and other concerns on a cross-border basis, ICC believes that the extraterritorial application of national laws and attempts by states to exercise jurisdiction extraterritorially can and does have significant negative effects on international trade and investment.
The extraterritorial application of national laws frequently subjects companies to conflicting or overlapping legal requirements, fosters unpredictability, increases the risks involved in commercial activities, exposes companies to overly burdensome litigation in foreign jurisdictions, and inflates legal and other transaction costs.
- ICC Comments on UN Tax Committee Discussion Draft: Revised Proposal for a change to the definition of royalties in Article 12 of the United Nations Model Double Taxation Convention Between Developed and Developing Countries
- Multi-Industry Statement on Cross-Border Data Transfers and Data Localization Disciplines in WTO Negotiations on E-Commerce
- Summary for policymakers of The Economic Case for Global Vaccination study
- The Economic Case for Global Vaccinations
- ICC Comments on OECD public consultation document on the review of BEPS Action 14: Making Dispute Resolution Mechanisms More Effective
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