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Asia Business Insights Handelsblatt 2019 shows that economic relations between Germany and the Asia are intensifying with increasing speed

When the German business magazine Handelsblatt invites to its annual Asia Business Insight Conference, an illustrious circle of economic figures gets together. This years conference in Düsseldorf begun with a powerful speech of Helen Wong, Chief Executive Greater China HSBC, by stating that the economic bond between China and Germany is stronger than before. China and Germany both embrace their economical relationship, and they move ahead slowly by ‚crossing the river and feeling the stones.’ The scale of German companies is seen as an opportunity by China rather than a risk. Above all, I see German cars on the streets. In the shops there are products of German brands, a large part of the medicine comes from German pharmaceutical manufacturers. German talent has helped us to prosper,’says Wong.

The economic relations between Germany and the Asian region are intensifying with increasing speed. But skepticism about China remains.The West has long insisted that China’s economic opening would also mean political change.

But today’s reality looks different: while China has opened up for imports and investments, political freedom in the country is becoming increasingly smaller. And the great geopolitical will to power, which China has identified with the Silk Road project, causes concern in Europe.

Sustainability and Urbanization
Meanwhile the middle class in China is growing. With the prosperity also the demands on the quality of the consumer goods rise. This changes the market conditions. The best market opportunities are now on environmental protection and sustainability, which the government has committed itself to.

Covestro boss Markus Steilemann explained how the increasing urbanization Covestro brings new sales opportunities. The German plastics manufacturer an plastic recycling company has been active in China since 1996 and has adapted to the conditions of the market.

Markus Steilemann stated that everything is made from plastic, so everything can also be built from plastic. Social problems like the environment or urbanization can be helped by using plastic for example for building houses out of plastic. Two main problems in China could be tackled by one solution: these problems are nutrition and poverty. More than 200 million people suffer from hunger because fresh food does not reach the customer due to logistic problems, and farmers do not have the resources to build on their harvest). Mr Steilemann presented solar lights as the answer: food can be dried and easily preserved, which makes it easier to transport food for longer days.

Innovations and Startups in Asia
All over Asia you find a big group of young entrepreneurs. There are many startup companies in India for example. The entrepreneurial environment is very big and companies are supported b the Indian government. Difference between Germany and India is that the Indian customers are very keen on fast results whereas the German customer is very hesitant but a customer for life. In India there is a fear of failing, whereas Germans do not fear failure and know that they can grow from failing.

Trade documenting gets easier with Blockchain
Another trend that was presented at the Asia Business Insights was the digitalization of trade documenting: a fast and also safe way for the trade documenting process. First it took 5 to 15 days for a trade document to be fully processed, because of the long travels it had to make. But thanks to blockchain, a software that runs on multiple databases instead of one, the trade documenting process is safe, fast and easy to use. Especially for instances that do not want to share their data, the blockchain will prevent the data sharing and process the documenting in a fast way.

Other topics at Asia Business Insights Handelsblatt 2019 were success strategies for Asia, will Asia overtake us in the most important future markets, economic outlook on Asia, current situation geopolitics and world economy such as protectionism and new trade agreement, tectonic shifts in world trade and update to the Silk Road Project.

Welcome to Global Connect Admin’s Tax Workshop in Amsterdam!

Workshop presentation in Chinese mandarin, while English, Dutch and Japanese are available for questions and ideas.

Date:

05 March 2019

Location: 

Holiday Inn, Station Bijlmer Arena, Hoogoorddreef 66a, 1101 BE, Amsterdam

Language:

Workshop presentation in Chinese mandarin, while English, Dutch and Japanese are available for questions and ideas.

Event schedule:

18:30    Welcoming session

19:00    Start of the Workshop

20:00    Networking, snacks and drinks

20:30    End of the event

Topics covered:

Tax advantages for a Dutch company

1. Low corporate tax rate, which is still decreasing in recent years.
2. No withholding taxes for interests and royalties
3. Withholding tax for dividends as low as 15% (To Chinese residents is 10%)
4. Possible participation exemption

News in tax regulations in 2019

1. Dividend tax remains
2. Corporate tax rate is decreasing, respectively 19% and 25% in 2019
3. Substantial interests tax will increase, which is 25% in 2019.
4. Limitation for forward loss settlement, which is 6 years forward and 1 year backward in 2019.
5. Wealth tax rate has dropped insignificantly.
6. Lower VAT rate has increased to 9% in 2019.
7. Expat settlement has been shortened to 6 years in 2019.

Invoice compliance requirements

1. Date of the invoice issued
2. Names and the addresses of both parties
3. VAT number of your company
4. Number registered at the Chamber of Commerce of your company
5. Invoice sequence number
6. The nature, quantity and/or the size of the product
7. The date of delivery, or the date of prepayment
8. Prices charged without VAT
9. VAT rates and the amount
10. Final price charged

We warmly welcome you to register here:

https://www.dutchcn.com/forum.php?mod=viewthread&tid=21159

or contact yqiu@globalconnectadmin.com.

We are looking forward to seeing you at the event!

We are on the Asia Business Insights of the Handelsblatt. Interesting discussions and information on cooperation with Asia.

The conference focuses on the opportunities and challenges of the future Asian market. Top speakers from business, science, media, culture and politics provide useful information and open up new perspectives. The annual conference focuses on current trends in the Asian growth region.

We like to inform you on time that our office will be relocated on March 1^st. 2019 to a new address.

The new office address will be:

Global Connect Admin B.V.
Ridderspoorweg 61
1032 LL Amsterdam
The Netherlands

You are welcome for a cup of coffee/tea on our new premise after March 1^st.

Robot-controlled process automation takes care of routine tasks in companies

Automation of recurring tasks

Robotics can make many business processes more efficient. Software robots can work 24/7, do not take a vacation and do not get sick. This gives a fivefold increase in available hours per year compared to average human labor. Tasks can be done much faster and almost flawlessly, which can greatly increase a company’s productivity.

The term robot is a bit misleading because Robotic Process Automation (RPA) is more precisely software that – like a robot – does routine tasks exactly and tirelessly using existing systems.

Applications

The use of RPA is particularly useful in those areas of the company where repetitive, “simple” processing steps tie up many resources. Examples of this are the manual input of data in input masks, the evaluation of data, extensive searches on and comparisons of data.

Two types of RPA

• Supervised and / or operated: Human users control the process and determine when transactions are executed.

• Unattended or unattended: The software robot performs transactions consistently and without human involvement. People only intervene in exceptional cases.

Advantages and Limitations

The major advantage of robotic process automation is the fact that these routine activities can be completed around the clock, much faster and with fewer errors than when done by human employees. In addition, RPA is straightforward and can be operated and monitored by those who are not IT experts. An additional advantage is the ability to integrate RPA into a company’s existing systems. There is no need for extensive investments in new core systems before a company is able to feel the benefits of RPA.

The advantage of being accurate means, at the same time, testing the natural limits of robotic process automation: in order for automation to work, the processes must not be changed. Before implementing RPA, business processes should be carefully analyzed and if necessary optimized, as any subsequent adjustment may be complicated.

Furthermore, RPA can only work with exact data, and extracting new data from continuous text or independently developing new operations similar to past solutions is only possible with the help of so-called cognitive software or even artificial intelligence systems. However, these fields are developing very rapidly, so much that companies will increasingly be able to use such complex solutions in the years to come.

A Threat to Jobs?

Does this mean that in the future not only assembly-line workers but also office workers will be replaced by robots? Yes and no, says both science and the industry. According to a study by the University of Oxford, the substitutability of an employee highly depends on the proportion of his/her routine activities or the ratio of tasks that require creative solutions and social competence.

As a result, for example, tasks that until now have been done by accountants and employees in finance departments and even sales back offices will increasingly be completed by RPA systems. Employees who often have to use their creative minds instead of being purely analytical or must demonstrate tact in customer contact will probably remain irreplaceable.

Conclusion

For many companies, robotic process automation offers interesting opportunities to save resources to a considerable extent, while, at the same time, enhancing the activities of their human employees by reducing the number of routine tasks. RPA is therefore considered as an opportunity for improvement and will continue to revolutionize many business departments in the coming years.

Global Connect on tour

Business & Investor Forum China

The global team of Global Connect Admin has been on the road a lot in the last few days, exchanging information with other international experts and companies at various events.

On friday the 14th of September we were at NRWInvest Business and Investors Forum China in Dusseldorf. We have had many interesting conversations, and have made new contacts for partnerships.

DJW Canon “Germany-Japan Startups Platform”

The Germany-Japan startup platform on saturday  the 15th of September wanted to bring Japanese and German companies into contact with each other, as countries undergo comparable developments. Japan and Germany – both knowledge-based economies and one of the largest industrial nations – are facing similar social and economic developments, such as the need for globalization, digitization and an aging society.

Both countries are characterized by cutting-edge technologies and an active start-up scene. Companies have great potential for collaboration to drive innovation and drive economic growth. Global Connect had many interesting talks with Japanese and German companies.

DUJAT / Loyens & Loeff Tax Seminar: Dutch, EU and Japanese Tax Changes

On Thursday the 13th of September Global Connect Admin joined the DUJAT / Loyens & Loeff Tax Seminar which took place at the Amsterdam office of Loyens & Loeff. Members learned about the rapidly changing tax environment and the impact of these changes.  For example, what will be the effect of the new Japanese CFC rules on Dutch financial and holding companies, what will be the effect of the implementation of the Anti-Tax Avoidance Directive (ATAD) on Dutch subsidiaries of Japanese groups and what influence will the General Anti Avoidance Rule (GAAR) in the EU Parent-Subsidiary Directive and the Principal Purpose Test of the Multilateral Instrument (MLI) have on the staffing and activities of a Dutch company owning subsidiaries outside the Netherlands? Our colleagues liked to discuss these questions with the groep.