ICS TRUST eNewsletter

Unification of China's Tax Laws

Greetings from Hong Kong,

The ICS Trust team would like to share with you some new information regarding, long-proposed changes to China's taxation laws, whereby the foreign and domestic tax codes, currently significantly different, will be unified possibly as soon as January 2008.

Please click here to read article from the South China Morning Post for your reference which goes into further detail.

Judging by the content of the article, start up strategies by foreign investors into Wholly Foreign-Owned Enterprises (WFOEs) may need to be fast-tracked to take advantage of the current tax-breaks for such vehicles. Pressure on companies to register before the possible approval date of the law this coming March looks set to increase particularly if foreign investors seek to take advantage of the five-year grace period being offered to currently registered companies.

Please read more and if you seek further advice on incorporating your structures or operations in China, please contact us here at ICS TRUST either by email at ics@icstrust.com or via phone on +852 2854 4544.

We would also like to take this chance to wish you and your family/loved ones a very happy holiday and look forward to hearing from you in the near future.

All the Best,

ICS TRUST Team

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

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ICS TRUST (ASIA) LIMITED
8^th 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.