At the AmCham APCAC Business Summit 2019, one of the signature events in Asia with more than 400 top business and political leaders, Tricor participated in roundtable discussions on foreign investments, trends, innovation and various aspects across several business verticals. Kicking off the event on March 4, Group CEO Lennard Yong shared his perspectives on the panel, The Battle of the Business Hubs in Asia. On March 5, our keynote speakers Desmond Lau and Peter Tung hosted a breakout session Traversing the China Great Wall: Compliance Trends and Learnings over the past 2 Decades, to review the compliance trends and tax considerations impacting MNCs and SMEs expanding in China over the years.
Here are the exclusive key takeaways and insights:
Lennard Yong, Group CEO
All eyes on Asia with its exciting, tech-focused hubs that are innovating the world
As Asia’s advancing technology focus, government support and tax incentives create favorable hubs across the region to nurture businesses and attract investments, professional services have also entered a new era – the era of technology-first solutions. As the leading business expansion specialist in Asia, Tricor is constantly expanding our solutions to meet the needs of our clients. We focus on accelerating our clients’ Asia expansion from Hong Kong to Singapore, across the Greater Bay Area to Tokyo Bay Area to the fast-growing ASEAN hubs of Vietnam, Malaysia and Indonesia – Tricor’s dedicated, expert local teams are always at your service.
Desmond Lau, Director – China Business Development
The Who, What, Where, How Many and How much for China Expansion
Speaking of the many checks and balances for regulation and compliance in China, foreign investors and multinational companies face challenges when navigating the business complexities and cultural differences. In the presentation, Desmond highlighted the key principles behind Chinese regulations and how such regulations have changed over the past two decades – and how Tricor serves as a trusted partner all the way.
Peter Tung: China’s Individual Income Tax Reform and Global Mobility
China’s IIT Reform: the Not-to-Miss Details
Effective January 1 2019, China Individual Income Tax Reform (IIT Reform) has been a landmark event in China taxation history, such as the new interpretation and calculation of tax residency. As an experienced tax expert in global mobility and tax advisory and personal tax planning, Peter shared all the top-level, must-know considerations for expat employment and tax relief planning in the face of the IIT Reform for all current and potential investors in China.