Viewpoints from Kaizen
US Individual Taxpayer Identification Number
When a taxpayer who files a return, a statement or other document with the Internal Revenue Service (IRS) of the United States of America or is subject to US withholding requirements by a third party must include a taxpayer identification number (TIN) for securing proper identification. A TIN can be either a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN). An ITIN is issued to individuals who have US tax reporting or filing requirements and are ineligible to obtain an SSN. An ITIN is arranged the same as a SSN, begins with a 9, is issued by the Internal Revenue Service and is used for tax processing. ITINs are used by the IRS for processing your tax returns and payments. The number does not qualify you to work in the U.S. or provide eligibility for Social Security benefits; it is only for federal tax reporting purposes. ITINs […]
Guide to Transfer of Shares in a Singapore Company
Unless otherwise indicated, the Singapore company mentioned anywhere in this article refers to a private company limited by shares incorporated in accordance with the Singapore Companies Act. Summary Share transfer refers to the act where a person sells or gives his shares in a company to another person. If a person sells all his shareholding, he will not be the shareholder any longer and the buyer will become the shareholder of that company after the transfer. Shareholders of a Singapore company are free to transfer shares with other shareholders subject to any restrictions by the company constitution. Furthermore, company directors will have the right to refuse the transfer of shares from one shareholder to another. The reason for refusal must be for the wellbeing of the company. The share transfer generally involves directors’ resolution, the transferor (seller) and transferee (buyer), execution of the ACRA transfer of shares form. It also […]
Taiwan Representative Office Registration Procedures
1. Report to Department of Commerce, MOEA of registration particulars of foreign head office and establishment of representative office Documents required: Application form Certificate of incorporation issued by the government authority (authenticated by the representative of the Taiwan government in the country where the foreign head office is resident) and Chinese translation Business registration certificate (for Hong Kong companies only) (authenticated by the representative of the Taiwan government in the country where the foreign head office is resident) and Chinese translation Power of attorney appointing the legal representative in Taiwan (authenticated by the representative of the Taiwan government in Hong Kong) and Chinese translation Photocopy of the ID card of the litigation / non-litigation agent in Taiwan (if a Taiwan national) Photocopy of the passport of the litigation / non-litigation agent in Taiwan (if a foreign national) Photocopy of Hong Kong permanent ID card (if the litigation / non-litigation agent […]
Introduction on Taxation of Hong Kong Companies Operating Offshore
Hong Kong is an international metropolis city in Asia and has a port for international trade. Hong Kong has an excellent legal foundation, strict law, and a strict judicial justice that is trusted by the world. Hong Kong becomes an international commercial, trade, and financial pivot, not limited to the above-mentioned reasons. They have a great transportation facility for sea, land, and air, the international circulation network, diversified financial and bank service, etc. Besides, the cost of operating a business and setting up a company in Hong Kong is low, and the procedures are simple and convenient. People from all over the world (including natural persons and legal persons) can register a company in Hong Kong, in order to develop and operate international businesses in Hong Kong. 1. Hong Kong’s Tax System The tax system in Hong Kong is simple, and the tax rate is low. Hong Kong adopts a […]