It was great to catch up with some old friends and to make some new ones in Amsterdam recently.
It was also pleasing to hear various accounts about AGN clients’ expanding into the Asia Pacific region. Clearly, it remains a challenge to establish a presence, or acquire another business and determine the key issues and right strategies in this region.
Economic activity-wise, China continues to be of great interest however, careful analysis of the major tax changes coming into effect from 1 January 2008 must be conducted. Examining the impact on existing businesses as well as new ventures will be critical. These broad changes include a change in the corporate tax rate, the imposition of dividend withholding tax and a host of other modifications.
In addition, numerous Double Tax Agreements have been re-negotiated with China. Some of these changes will challenge traditional thinking about holding structures going into China.
It may also be of interest to members that a company which is about to list on the Australian Stock Exchange will have as its purpose investing into private companies in Vietnam. Hall Chadwick Sydney is providing the investigating accountants report and tax opinion for investing in Vietnam. This will hopefully accelerate the acquisition of a new member in Vietnam for AGN.
By the way, if you would like a copy of the tax opinion, please let me know.
Plans are afoot for the next AGN Asia Pacific meeting and I am pleased to say that Ricky Wong, from Wong Bros - Hong Kong, was appointed Vice Chairman of this region. I look foward to working with him to further the AGN name and know-how in this sector for the benefit of the worldwide members.
Kind Regards
David Kenney
Chairman, Asia Pacific Region
Hall Chadwick
Sydney, Australia
dkenney@hallchadwick.com.au
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