Outsourcing in China: Five Basics for Reducing Risk

Written by Steve Dickinson

Continued from page 1

4. Product Quality and Payment Terms. The rule here is simple. Do not make final payment to your Chinese manufacturer until you are confident you will be getting an on time shipment ofrepparttar correct items and quantities atrepparttar 119181 quality standards you require. This usually means you must incur inspection costs in China and provide for a clear procedure for dealing with these problems as they arise. You must takerepparttar 119182 lead on this. You cannot depend onrepparttar 119183 OEM manufacturer to do this for you.

5. Use comprehensive OEM Agreements with each manufacturer. Small and medium sized businesses often enter into OEM manufacturing transactions with a simple purchase order. This is a mistake. The purchase order will protectrepparttar 119184 Chinese manufacturer, not you. Your protection depends on your securing a written OEM manufacturing agreement with each Chinese manufacturer with which you deal. The ideal OEM agreement will address all ofrepparttar 119185 issues discussed above while also addressing other basic legal issues such as jurisdiction and dispute resolution. This agreement should be in both Chinese and English, sincerepparttar 119186 Chinese language version will control in China.

Steve Dickinson heads up the international corporate group at the law firm of Harris & Moure (www.harrismoure.com), where he focuses on assisting small and medium sized businesses with their international legal needs. Steve Dickinson is fluent in Mandarin Chinese and has been doing business in China for more than twenty years. He can be reached at firm@harrismoure.com.

The Implication of Income Tax Charge on Estate Planning

Written by Janine Byrne

Continued from page 1

The Implications ofrepparttar Charge ===============================

Most ofrepparttar 119180 Inheritance Tax Planning techniques usually involve a widow or widower having continued enjoyment of their former spouse's share ofrepparttar 119181 property and thus it would appear on first inspection that inrepparttar 119182 majority of casesrepparttar 119183 charge would not apply asrepparttar 119184 transferor themselves would not be around to continue to enjoy or benefit fromrepparttar 119185 property. 

However, a problem seems to arise where a couple own their property as joint tenants prior to commencing their tax planning strategy and subsequently changing their ownership title to tenants in common. Whererepparttar 119186 widow or widower formerly ownedrepparttar 119187 property as joint tenants they had a share in ownership ofrepparttar 119188 whole property. This means thatrepparttar 119189 new Income Tax charge could conceivably apply to their continued occupation ofrepparttar 119190 property after their spouse's death.

A possible consequence of this forrepparttar 119191 future might mean that instead of acquiring property as joint tenants which has beenrepparttar 119192 general rule,repparttar 119193 wise policy would be to ownrepparttar 119194 property as tenants in common instead. But how many people are aware of this distinction? Will legal advisors be prepared to explainrepparttar 119195 tax implications of acquiring property withrepparttar 119196 different legal titles?

Conclusion ===========

How far willrepparttar 119197 new charge impact on current Inheritance Tax Planning schemes? As yet, it is too soon to tell, asrepparttar 119198 rules have not been fully fleshed out and as yet, it is too soon to say with any certainty what will happen and which schemes will be affected.

But it seem fair to argue thatrepparttar 119199 current Labour Government is doing its utmost to tax its citizens at every possible turn. Inheritance Tax avoidance schemes - indeed any tax avoidance scheme -are not unlawful. Planning forrepparttar 119200 future does not mean that people are engaging in tax evasion - which IS unlawful. Butrepparttar 119201 policies being employed leave an uncomfortable impression of an angry parent chastising their child simply for being astute and planning forrepparttar 119202 future!

Needless to say,repparttar 119203 whole approach leaves a somewhat bitter taste in one's mouth.

JsByrne LLB (Hons) LPc. www.Draft-Your-Will.com

Miss JsByrne holds a Bachelor of Law degree with Honours & a post-graduate diploma in Legal Practice. Also gained qualification in Wills Writing & is the owner/author of www.Draft-Your-Will.com and DYW Wills & Estate Planning Newsletter.

    <Back to Page 1
ImproveHomeLife.com © 2005
Terms of Use