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Celebrating 25
Years of Success!
ICS TRUST would like to thank you You have been an essential part of our business. |
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6th WTO Ministerial Conference in
Hong Kong
Hong
Kong acts as the platform for trade progress as it stages the World Trade
Organization・s (WTO) sixth Ministerial Conference between the
13th and 18th of December 2005. Ministerial
Conferences are the highest decision-making body of the WTO, meeting at
least once every two years to negotiate rules for global commerce and
provide political direction for the organization.
The
sixth conference is vital for enabling the four-year-old Doha Development
Agenda negotiations to move forward sufficiently to conclude the round in
2006. In a bid to get stalled global trade talks back on track, 149 rich
and poor nations are meeting at one of the world's main financial centers
to discuss trade in industrial goods and services on the table alongside
agriculture.
The
WTO could not have picked a more fitting place than Hong Kong for this
year・s ministerial conference. Hong Kong has built its economy on trade
and has practiced free trade for decades. Former U.S. president Bill
Clinton once called Hong Kong ：Exhibit A in the case for global
interdependence and its benefits.； The city is heavily dependent on
international trade and its prosperity is a model to showcase the benefits
of free trade. Despite the fact that violence marred previous trade
meetings in Seattle and Cancun, so far the current meeting faces only
light protest. Nevertheless, the
sixth WTO Ministerial Conference undoubtedly has raised Hong Kong・s
international profile as a bastion of free trade and reinforces the
importance of Hong Kong both in terms of its regional significance and its
relevance as the gateway to
China.
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TRADE HONG KONG
Hong Kong To Undertake
Major Company Ordinance Overhaul
In order to match the company laws of other financial jurisdictions and to facilitate future corporate governance reforms, the Hong Kong government is going to take on a complete rewrite of the territory・s century old Company Ordinance. The reform will begin in 2006 and a white paper will be released for consultation in mid-2009. Read more...Hong Kong Considered As The Most Ideal Base For Transnational Corporation in Asia Pacific Professionals from European and North American enterprises in Hong Kong speak highly of the city・s attractiveness in setting up headquarters for multinational companies; a simple tax system and low tax rates are considered to be the main factors. Read more...Indian Logistics Company
Utilizes Hong Kong As Gateway To Tap On Business Opportunities in
Southern China CHINA
China・s Third Round Patent Law Reform Chinese authorities from the State Intellectual Property Office will reveal the third round of patent law revisions in 2006 to address new issues regarding intellectual property rights, which have arisen as a result of China・s membership of the WTO Read more...China Lowers Minimum Capital
Requirements To Start Up Companies China is Making the Most Progress in Fighting Against Corruption in Asia According to a survey by a Hong Kong-based think-tank, Political & Economic Risk Consultancy Ltd., China is perceived as making the most progress against corruption among 12 Asian economies. Read more...Chinese Official Predicts China To Overtake Germany As World・s Second Largest Trading Country by 2008 OFFSHORE
U.S. Pressures Caribbean Banks To Fight Against Money Laundering Pressure from U.S. authorities on Caribbean banks to fight money laundering, counterfeit fraud, and terrorism are stretching the islands・ operating budgets. Regional banks are being pushed to buy expensive equipment and software in order to put the new security measures in place. Read more...
Bahamas To Launch
Private Trust Companies Legislation
In order to comply with increase international transparency requirements, the Bahamian government is finalizing its private trust companies legislation so as to strengthen the country・s reputation in the financial services sector. Read more...
Australia To Negotiate
Tax Exchange Agreement with Offshore
Jurisdictions
To combat tax evasion and to stop the flow of laundered funds, the Australian government is negotiating tax information exchange agreements with several offshore jurisdictions in the Caribbean. Each year, an estimated US$ 3.7 billion is moved between Australia and the Caribbean jurisdictions. Read more... |
TAX CHINA
China and Czech Republic To Move On Bi-lateral Double Taxation Agreement China Exempts
Qualified Foreign Institutional Investors from Capital Gains Tax
Qualified
foreign institutional investors (QFIIs) will be exempt from paying
capital gains tax on their holding of Yuan-denominated stocks and
bonds in China. This is one of several changes governing QFII to
attract foreign fund managers to enter the China market. Read more...
New Tax Incentives for Venture Capital Investment in China NORTH AMERICA /
EUROPE
The U.S. Postpones Tax
Code Reform Until 2007 Without Artificial Timetable
Proposals for simplifying the U.S. tax code is likely to be pushed back, as the focus falls on more pressing legislative issues, and maintaining economic growth. Read more...Luxembourg Central
Bank Governor Argues Tax Harmonisation Within
EU
While the EU commission is working towards the harmonisation of the corporate tax base to reduce red tape and compliance costs for businesses, Luxembourg・s Central Bank Governor argues that tax harmonisation will undermine the overall stability of individual countries・ fiscal systems. Read more...
European Governments To
Defend Lawsuits on Corporate Tax Base The UK government・s decision to tax profits earned by multinationals, such as Cadbury Schweppes and Mark & Spencer subsidiaries in low tax EU member states, has led to assaults on breach of European law. Read more...
OFFSHORE Gibraltar Reforms
Stamp Duty Ordinance
The Gibraltar government has modernized its Stamp Duty Ordinance and has removed provisions that are no longer applicable. Stamp Duty on all instruments except those relating to real estate have been abolished under the new regime. Read more... |
William Chan
(Mr.)
Assistant
Accountant
Joined 21st November
2005
William joins ICS TRUST with auditing
experience in Hong Kong. Graduating from
Exeter University in the UK, William holds a bachelor degree in
Accounting and Finance and a master degree in Finance and
Investment. William brings with him experience in accounting and
auditing assignments from PricewaterhouseCoopers.
Wendy Wan
(Ms.)
Investment Assistant
Joined 12th December
2005
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.
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Services Provided by ICS
TRUST | ||
| Corporate
Services Integrated Financial Solutions China Structuring Services Asian Trade & Commercial Solutions High Net Worth Client Services |
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China Business
Advice & Structuring
Establishing Business in Asia Direct Import Program |
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ICS TRUST
(ASIA) LIMITED | ||
| 8th Floor,
Henley Building 5 Queen's Road, Central Hong Kong |
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Tel: (852)
2854-4544
Fax: (852) 2543-5555 or 2543-4080 Email: ics@icstrust.com Web: http://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