|
Celebrating 25 Years of Success!
ICS TRUST would like to thank you You have been an essential part of our business. |
 |
The tension between China and the rest of the world is consistently being documented in headline media. China's manufacturing power and growing diplomatic influence have given rise to new uncertainties over the "China Threat." To make matters worse, the anticipated visit to be made by the Chinese president to the U.S. was postponed due to the hurricane disaster; this unfortunate delay has caused further public suspicion of the current relations between China and the United States. Moreover, although the Chinese textile dispute with the European Union has finally been settled by allowing entry at half of the quota from 2006, negotiations with the United States continue to drag on without closure. The flood of low-price Chinese exports has raised further questions in regards to China's international relations, and until China's trade surplus showing no signs of slowing down, the world still questions whether or not China poses a long-term threat to current geopolitical and economic stability.
|
TRADE Hong
Kong
Hong Kong Remains the
Freest Economy in the World
According to the Cato Institute in the U.S. and the Fraser Institute in Canada, Hong Kong is judged to be the freest economy out of 127 nations for the 10th year running in freedom of international trade and regulation of credit, labor, and business. Read more... Significant Increase of Foreign Companies
Setting up and Expanding Operations in Hong
Kong
By the end of 2004, the total number of regional and
head offices in Hong Kong was near to 6,000 according to local
government representatives. In 2004 alone, Invest Hong Kong assisted
205 foreign and Mainland companies to set up or to expand their
operations in Hong Kong.
Read
more...
KFC Shows Confidence in Further Business Expansion
in Hong Kong
The leading global restaurant chain plans to nearly double the number of outlets in the next four years in Hong Kong. KFC's additional HK$150 million investment demonstrates that Hong Kong remains an ideal platform for foreign companies to showcase their services in the region. Read more... China
China Settles Textile Dispute With EU After 75 million garments were blocked at the EU borders for weeks, China finally settled the textile dispute with the EU on 7th September 2005. China and the EU agreed to share the impact of allowing the blocked goods into the region. Read more... EU Textile Deal with China is Expected to Serve as a
Baseline for the U.S.
Although China wants a textile deal with the EU to serve as a baseline for the same issues with the United States, US negotiators have not been able to reach any agreement with China. Furthermore, the US government aims to impose new curbs on certain types of Chinese textiles. Read more... Long-term Bilateral Relations are Agreed between
China and Canada
A smooth visit by the Chinese president to North America has proven to be successful in reaching mutual agreement between China and Canada to build strategic partnership. Read more... Progressive move by Australian Bank in China's
Banking Sector
The Commonwealth Bank of Australia (CBA) acquired 11% of China's Jinan City Commercial Bank last year and in April this year acquired a further 19.9% stake in Hangzhou City a commercial bank. The acquisition represents a progressive development of CBA's long term business plans in China. Read more... |
TAX Hong
Kong
Hong Kong Signs the First Comprehensive
Double Taxation Agreement in the Asia-Pacific with
Thailand
After signing its first ever double taxation
agreement with Belgium in 2003, the Hong Kong SAR government has
signed another double taxation agreement on 7th September
2005 with Thailand that brings certainty in tax liability and tax
savings to Hong Kong investors in Thailand. Read
more...
China Chinese Official Pledges New Corporate Tax will not
Penalize Foreign Investors.
China's Finance Minister has proposed a 24% unified
corporate tax rate for domestic and foreign companies to level the
playing field. Major international companies have joined forces to
lobby the Chinese government for a five to ten year transitional
period. Read
more...
NORTH AMERICA / EUROPE
U.S. Congress to Redirect New Tax Cuts for Victims of Hurricane Katrina. The U.S. congressional Republican leaders have postponed a $70 billion package of tax cuts and estate tax repeal vote to give a higher priority on hurricane relief. Read more... OFFSHORE South Africa Releases New Taxation Rules for
Offshore Operations
Under a new plan, profit of South African firms generated offshore will be assessed according to the level of South African ownership. Multinational groups that fail in the tax test will be taxed at 29%. Paperwork will be reduced for companies to gain tax breaks on overseas activities. Read more... India in Negotiation with Mauritius on Double
Taxation Agreement.
With a second round of talks on the Indo-Mauritian Comprehensive Economic Cooperation Partnership Agreement (CECPA), Indian Foreign Secretary was more or less reassuring on the subject of the countries' Double Tax Avoidance Agreement (DTAA) on the trip to Mauritius. Read more... |
Kenny K. Lau (Mr.)
Assistant Accountant
Joined 5th September 2005
Kenny joins us with 5 years solid accounting experience in Canada and Hong Kong. Majoring in Accounting and Finance, he graduated from the Simon Fraser University in Canada. Kenny started his accounting career in North America and had been in the areas of client accounting, public accounting and personal advisory services. In Hong Kong, he worked for PricewaterhouseCoopers and KACTUS, where he handled full set of books and management accounts reporting functions. Kenny holds a CPA qualification awarded by the American Institute of Certified Public Accountants.
Fanny K. F. Chang (Ms.)
Senior Company Secretarial Assistant
Joined 22nd August 2005
Fanny has more than 10 years experience in the company secretarial field with various professional services firms. Fanny holds a BBA degree from the Open University and is a finalist of HKICS.
About ICS TRUST
Since 1980, ICS TRUST has been the market leader in helping entrepreneurs and successful, privately-owned businesses establish and grow their operations in Asia.
For more than 25 years, Hong Kong-based ICS TRUST has been the gateway to China and Asia for businesses from around the world. We understand that our clients want to capitalize on the lucrative opportunities in the China marketplace, but the process is complex and often confusing. With ICS TRUST's team of corporate, legal, financial, accounting, banking and trading experts working together, we are able to provide customized, strategic business counsel to you in order to minimize the risk and maximize the success of your investment in Asia.
|
Services
Provided by ICS TRUST | ||
| Corporate
Services Integrated Financial Solutions China Structuring Services Asian Trade & Commercial Solutions High Net Worth Client Services |
China Business
Advice & Structuring
Establishing Business in Asia Direct Import Program | |
For more information, please contact our Marketing Manager, Daniel Booth.
If you do not wish to receive future newsletters, please reply with "Remove" in the subject line.
|
ICS TRUST
(ASIA) LIMITED | ||
| 8th Floor,
Henley Building 5 Queen's Road, Central Hong Kong |
Tel: (852)
2854-4544
Fax: (852) 2543-5555 or 2543-4080 Email: ics@icstrust.com Web: www.icstrust.com | |
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.
(c) Copyright 2005, ICS Trust (Asia) Limited