BUSINESS CONSULTING
Manage your business successfully
Our professional services include
Volatile and dynamically changing markets, an insecure regulatory environment, augmenting competition and rapid technological changes make decision-making increasingly difficult for managers as general conditions for a decision change rapidly.
Accounting › Monthly Accounting and preparation of Annual Financial Statements › Recording of cash movements › Statistical reports › Operational accounting and cost center accounting
The pressure to seize new opportunities whilst keeping a lean and flexible business structure becomes a particularly important issue. At WTS we assist companies in decision making as well as in developing and implementing solutions, enabling you to successfully compete in the market and further promote your company. Our consulting approach puts a clear focus on the financial sector in the environment of classic CFO functions and all connected tasks. Good advice also requires advisors with experience in Asia, understanding of western companies’ needs and strong skills. We work in close cooperation with our regional partners in Asia and beyond. As member of WTS Alliance, we provide clear advice and implementation support by local specialists in around 100 countries.
Market entry and Setup › Location analysis › Budgeting and estimation of start-up costs › Advise on the formation of a Hong Kong company › Company setup and registrations Compliance › Support in compliance reviews › Advise on improvements of the compliance functions Human Resources › Global Expatriate Services › Payroll accounting › Set up and preparation of Social Security contributions › Preparation of annual Employer’s Return › Support during Salaries Tax and MPF review
Contact us Claus Schuermann Partner claus.schuermann@wts.com.hk wts consulting (Hong Kong) Ltd • Tax & Business Consulting 1004 10/F Kinwick Centre • 32 Hollywood Road Central • Hong Kong
Henry Lam Certified Public Accountant henry.lam@wts.com.hk T +852 2528 1229
F +852 2541 1411
www.wts.com.hk
GLOBAL EXPATRIATE SERVICES
Manage your assignments
Our professional services include
In your role as an employer you are under the obligation of complying with the national rules and regulations in the tax, social security, immigration and labour legislation in the respective countries.
Consulting services for companies › Calculation, allocation and deductibility of assignee costs › Identification of related corporate tax issues › Development and review of assignee guidelines › Design of tax equalisation models › Design of special cases (e.g. split payroll, dual contract, tax planning concepts) › Application for relevant visa
Assignments particularly to China and Hong Kong with (or without) regional responsibilities in the Asian region create a complex situation for the individual and the assigning company. At WTS we assist companies and employees to plan and manage their intercompany assignment cost and compliance. We advise on: Expatriate Tax
Corporate Tax
Social Security
Process Consulting
Our Global Expatriate Services are complemented by legal services through our dedicated partner firm. As member of WTS Alliance, we provide clear advice and implementation support by specialists in around 100 countries.
Consulting services for employees › Tax optimisation interviews before, during and after the assignment › Consider the jurisdiction Germany › Preparation of income tax returns › Calculation of tax disadvantage › Filing of objections › Assistance with social security matters › Assistance with secondment agreements and dual contracts › Assistance with application for residence and work permits › Advice on cross-border social security issues › Application for the reimbursement of employees’ Social Security Contributions
Contact us Claus Schuermann Partner claus.schuermann@wts.com.hk wts consulting (Hong Kong) Ltd • Tax & Business Consulting 1004 10/F Kinwick Centre • 32 Hollywood Road Central • Hong Kong
Lucia Seltmann Senior Tax Consultant lucia.seltmann@wts.com.hk T +852 2528 1229
F +852 2541 1411
www.wts.com.hk
INTERNATIONAL TAX CONSULTING
Manage your international operations
Our professional services include
In Hong Kong every sizeable business operates in an international environment with cross-border business activities. This may be carried out through sourcing teams travelling frequently to Asia, a trading company or a regional headquarter that covers the whole Asia-Pacific region.
› Advice for German and international businesses expanding to Hong Kong and Asia › Analysis of existing business model and advice on improvements related to compliance and efficiencies › Regional Market entry and setup consulting › International assignment planning › Tax efficient holding company locations › Permanent establishment consulting › Cross-border financing solutions › Profit repatriation › Loss utilization › Inbound and outbound structuring › Managing intellectual property and intangible assets › Tax efficient supply chain and shared services › Advice on regional tax issues
For the internationally active corporate, the challenge is to deal with a large number of very different tax systems in Asia. In addition, it is not only about dealing with tax technicalities, but rather the art to handle the mixture of tax laws, practical application of the rules and regulations in each country and to make the fit into your companies’ culture. Good advice requires advisors with deep experience in Asia, understanding of western companies’ needs and strong personal skills.
At WTS you will be served by our partners and senior professionals.
We work in close cooperation with our regional partners in Asia and beyond. As member of WTS Alliance, we provide clear advice and implementation support by local specialists in around 100 countries.
Contact us Claus Schuermann Partner claus.schuermann@wts.com.hk wts consulting (Hong Kong) Ltd • Tax & Business Consulting 1004 10/F Kinwick Centre • 32 Hollywood Road Central • Hong Kong
Lucia Seltmann Senior Tax Consultant lucia.seltmann@wts.com.hk
T +852 2528 1229
F +852 2541 1411
www.wts.com.hk
INVESTING TO GERMANY
Investing to Germany
Our professional services include
As the largest economy in Europe and the fourth-largest by nominal GDP in the world Germany increasingly attracts foreign investors. It is also the world’s third largest exporting country and together with USA the only country with over 20’000 trademarks registered per year.
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Based on our roots, we know the German market in depth. We advise on tax efficient structures of investments into Germany and Europe. This includes repatriation strategies and considers foreign exchange limitations.
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Particularly in Germany tax laws are highly complex and authorities are focusing increasingly on compliance. Therefore, good planning based on sustainable advice is indispensable when investing and doing business in Europe. Together with our legal partners, we offer support from planning through to implementation of the necessary legal agreements. As member of WTS Alliance, we provide clear advice and implementation support by local specialists in around 100 countries.
Market Entry Analysis and location studies Consulting on business setup and implementation Corporate and personal tax planning International tax planning including holding structure and financing structure Share Purchase Agreement review Business modeling for highly complex regulatory regions like Europe Tax and compliance training to ensure the investing management is aware of all relevant risks Tailor made solutions
At WTS Hong Kong you will be served by our partners and senior professionals in cooperation with our six German locations with over 500 professionals.
Hamburg
Duesseldorf Cologne Frankfurt Erlangen Munich Raubling
Contact us Claus Schuermann Partner claus.schuermann@wts.com.hk wts consulting (Hong Kong) Ltd • Tax & Business Consulting 1004 10/F Kinwick Centre • 32 Hollywood Road Central • Hong Kong
Karsten Gnuschke Partner karsten.gnuschke@wts.de
T +852 2528 1229
F +852 2541 1411
www.wts.com.hk
TRANSFER PRICING SERVICES
Transfer Pricing Services
Our professional services include
Transfer Pricing is on the rise in Hong Kong. With the introduction of DIPN 46 in 2009 Transfer Pricing officially entered the tax stage in Hong Kong. Our focus is, however, not only on Hong Kong, but much more in Asia as a whole with our integrated Transfer Pricing network.
› Implementation of tax efficient transfer pricing policies and transactional structures › Transfer pricing documentation › Financial models to monitor financial results of transfer pricing › Drafting of intercompany agreements that reflect and support transfer pricing objectives › Transfer pricing policies and processes for implementation throughout the global business
According to estimates of the Organisation for Economic Cooperation and Development (OECD), intercompany transactions already account for more than 60% of world trade. All revenue authorities consider transfer pricing the main area of tax leakage and therefore a focus area for tax audit activities. Therefore we see Transfer Pricing from two perspectives: › Transfer Pricing Planning › Transfer Pricing Compliance
Together with our legal partners, we offer support from planning through to implementation of the necessary legal agreements. As member of WTS Alliance, we provide clear advice and implementation support by local specialists in around 100 countries.
Transfer Pricing compliance becomes a particularly important issue where transactions take place between countries who have not signed a double tax treaty as in the case of Hong Kong with Germany or the USA.
At WTS you will be served by our partners and senior professionals.
Transfer pricing documentation requirements and audit activities all create significant administrative and cash costs for companies.
Claus Schuermann Partner claus.schuermann@wts.com.hk
wts consulting (Hong Kong) Ltd • Tax & Business Consulting 1004 10/F Kinwick Centre • 32 Hollywood Road Central • Hong Kong
Contact us
T +852 2528 1229
F +852 2541 1411
www.wts.com.hk