ICS Trust (Asia) Limited

ICS TRUST - Bringing Businesses to Asia, Since 1980

Celebrating 25 Years of Success!

ICS TRUST would like to thank you
for your continuous support over the years.

You have been an essential part of our business.

ASIA

Hong Kong

Hong Kong Leading the Way in Outsourcing

More and more companies now prefer to outsource their business and knowledge processes, not just to address cost efficacy concerns but also to expand their overseas markets. Hong Kong continues to lead the way in offering added value skills to foreign companies. Read more...

China

GM becomes the No. 1 Foreign Automaker in China

Despite GM starting its auto-manufacturing operations in China more than ten years later than Volkswagen, GM has outsold VW by 46,524 vehicles in the first six months of 2005. Read more...

Still Much to Learn about China’s Individual Income Tax

Personal allowance is the only deduction that an individual taxpayer in China can enjoy. Read more...

China’s Taxation Reform is not just a Long Road but also a Bumpy One

It is not a surprise to see setbacks when there is a tax reform launched in a country. To understand the history and the reasons behind may help one to better develop a business plan. Read more...

MOFCOM pronounces Interim Control Measures on Textiles Exports to EU

The first allocation of quantity for the export of ten categories of textiles to the EU cover about 83.7 million pieces and 7.9 million kilograms of textile products. Read more...

US may extend Sock Import Quota

Hosiery manufacturers requested and filed again to the U.S. government to continue to prolong import quotas on Chinese-made sock on 8th July. Three days later, the U.S. textile industry filed four other new safeguard petitions. Read more...

NORTH AMERICA / EUROPE

CNOOC’s Unocal bid ?a Two-Edged Sword

Some claims that the CNOOC’s bid for Unocal is part of a calculated challenge by China to 'buy out' the U.S.’s global power while some American economists point to the bid’s benefits to the U.S. economy. Read more...

New Requirement Imposed on U.S. Taxpayers to Disclose Offshore Accounts

All U.S. taxpayers, consisting of U.S. expatriates and residents, must soon file the TDF 90-22.1 form to the U.S. Treasury or face fines of up to US$10,000 plus a severe civil penalty. Read more...

US decided to Abolish all Cotton Subsidies

The new subsidy decision to abolish cotton subsidies is being perceived as a positive sign that the U.S. is willing to be a better member of the WTO family. Read more...

OFFSHORE

OGBS met in Cayman Islands

On 1st July, the Offshore Group of Banking Supervisors finished its 25th annual meeting which focused on international cooperation over financial regulation and anti-money laundering/combating the financing of terrorism. Read more...

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Disclaimer: These notes, although considered to contain correct information, are for general information only and should not be considered as legal or tax advice. No responsibility is assumed by ICS Trust (Asia) Limited or its affiliates for any person acting on the information contained herein.