Managerial Capacity Barriers

Support programs for addressing internationalization barriers related with SMEs‟ limited managerial skills and knowledge are also identified in several countries. Examples of such programs include the 18-month export coaching course offered by UbiFrance, the French Agency for International Business Development; the Export Academy provided by Czech Republic; the 6-month Global Company Development Program offered by the Scottish Enterprise (a sub-national initiative); and the export managers‟ forum available to Greek SMEs.

Network/Social Ties and Supply Chain Links

Network/Social Ties and Supply Chain Links.

A number of recent studies have highlighted the importance of network/social ties and supply chain links in triggering SMEs‟ first internationalization step and extending internationalization processes. Both North American studies particularly reported the stimulating effect on export activity of firms ‟ soft assets, including social and network capital, some of which may have accrued through managers‟ immigrant background and associated links. The study among fish exporters from the Azores Islands, an autonomous Portuguese archipelago in the North Atlantic, some 900 miles from the European mainland, highlighted the importance of family and social ties with emigrant communities in global markets in driving SME internationalization (see Boxes 3 and 4)These include research among American, Australian, Canadian and Portuguese businesses. Kocker and Buhl also observed that taking advantage of collaborative links is a common motive among the firms they investigated across ten OECD countries.
Finally, it is important to mention the value of the linkages back to their birth countries that migrants can bring in arranging exporting opportunities [OECD CFE/SME(2008)5/PART1/REV1].

Corporate Tax in China

Property taxes in China are a popular topic of discussion in the Chinese press. Xinhua News on January 15 stated that property taxation, seen as a silver bullet to curb excessive growth in China's housing prices, is causing much debate within the higher echelon of Beijing's economic planners. A controversial figure in Beijing, nicknamed "Big Mouth Ren" by the local press, stated that only when supply and demand are in balance can property taxes really be effective in curbing speculative home purchases. Property taxes will never curb speculation in home purchases - if they are only a one-off situation. As a January 19 article in Shanghai Daily indicated, they will do nothing to satisfy the instinct of a culture hellbent on gambling.
Property taxation, based on legitimate appraisal valuation, is sorely needed as a means of financing those municipalities of the country where there is no more land left to sell. As a deterrent to spiraling housing prices, the property tax concepts introduced thus far for Chongqing and Shanghai are utterly worthless. There are bubbles in China that are now going down to fourth- and fifth-tier cities. Prices are too high in the highest tiers of cities of China. China has more than 250 cities with populations over 1 million people, so the lower-echelon municipalities are all subject to that gambling urge just like their upper-echelon neighbors. To deflate the bubbles is obviously the goal. This is causing the research departments of the State Council some real concern. China Daily, in a January 24 article, stated that the central government will soon expand the property tax and home buying limitations (based on size of dwelling and the number of dwellings owned by families) to Qingdao City, Tianjin, Shenzhen, Hangzhou, Ningbo, Nanjing, Xiamen, and Fuzhou. Bubbles are already appearing in these locations.
Every year, 10 million to 15 million rural residents migrate to cities of China. The central government believes that as many as 400 million rural dwellers will become city residents over the next two decades. Based on what I have seen in two decades living in China, I don't think this projection is far-fetched.
A one-time tax will temporarily deter speculative activity, but will not have a long-term effect. A shortterm capital gains tax of substance would have an impact, but I don't see that happening. The bureaucracy is simply not set up to handle the tasks necessary for either a true property tax or a capital gains tax.
The same day the property tax went into effect in Shanghai and Chongqing, a new rule requiring a 60 percent down payment on all second home purchases - anywhere in China - also took effect. I doubt it will be a deterrent. Inflation is so rampant that keeping savings in a bank in China means you will lose money. Second homes, based on purchase price, will now require a one-time tax (seems like an excise tax to me) of anywhere between 0.4 to 1.2 percent of purchase price. What's to prevent bogus purchase contracts on cashonly deals? Chongqing will allow nonlocal residents to buy there - so much for curbing outside investment to keep prices down. Taxes in Chongqing will be staggered. They will be set at 0.5 percent if homes are valued at two to three times average housing prices. Homes valued at three to four times average housing prices will be taxed at 1 percent while anything higher will fall under a 1.2 percent tax.
In Shanghai, second home buyers will pay a tax of 0.6 percent unless homes are valued at less than double the average housing price. In that case, buyers will pay only 0.4 percent.
It looks like much about nothing. This also has another effect: lots of yuan renminbi making their way outside China and affecting the economies (and housing prices) elsewhere.

Concepts

Some of the concepts that International Lawyers use commonly

Real property:

bienes inmuebles

Reasonable doubt:

duda razonable

Rebuttal:

Refutación

Recognizance:

promesa; compromiso; reconocimiento

Recording statutes:

leyes estatales sobre registros oficiales

Redress:

Reporacíon

Reformation:

rectificación; reforma; corrección

Rejoinder:

dúplica; contrarréplica

Release:

liberación; renuncia a un derecho

Remainder:

substitución; reversión

Remedy:

recurso; remedio; reparación

Replevin:

acción reivindicatoria; reivindicación

Reply:

Réplica

Requirements contract:

contrato de suministro

Rescission:

Rescisión

Res judicata:

cosa juzgada; res judicata

Respondeat superior:

responsabilidad del mandante odel maestro

Restitution:

Restitución

Restrictive indorsement:

endoso restrictivo

Resulting trust:

fideicomiso implícito

Reversion:

reversión; sustitución

Revocation:

revocación; derogación

Right of contribution:

derecho de contribución

Right of reimbursement:

derecho de reembolso

Right of subrogation:

derecho de subrogación

Right-to-work law:

ley de libertad de trabajo

Robbery:

Robo

Rule 10b-5:

Regla 10b-5

Sale:

venta; contrato de compreventa

How to open a Non-Resident Accounts in Thailand

It is mandatory for International lawyers to know how to open a non-resident account in Thailand. To be considered the following facts.

Exchange control in Thailand is governed principally by the Exchange Control Act B.E. 2485 (A.D. 1942) (the “Exchange Control Act”) and Ministerial Regulation No. 13 B.E. 2497 (A.D. 1954), together with the Notifications and Notices issued there under. The Bank of Thailand is charged by the Ministry of Finance with the administration of foreign exchange in Thailand.

Presently, 13 Thai commercial banks and 18 foreign bank branches and one company (Asia Credit Public Company Limited) are registered and authorized by the Bank of Thailand. Subject to the conditions prescribed by the Bank of Thailand, non-residents are generally allowed to open and maintain both Thai Baht and foreign currency accounts with authorized agents (i.e. authorized banks and an authorized company) in Thailand.

European Union Direct Taxes

Permanent Establishment is a vital concept in international taxation. While for direct taxes, it is mainly defined by the OECD Model Convention, the European VAT Directive and its implementing Regulation provide an EU-wide approach for VAT.
Difficulties arise as terminology and definitions in indirect and direct tax diverge. Moreover, countries have implemented and interpreted the EU and OECD rules in a different way, impacting on issues like cross-border reorganisations, transfer pricing, taxation of dividends and interest and royalties, tax residence, temporary and permanent transfer of assets, place of supply and VAT liability.
In both direct and indirect tax, the concept of Permanent Establishment has undergone very recent changes: The 2010 changes to the OECD Model Convention and Commentary, and in particular the new Art. 7, will be adopted in national law, as speakers from the Netherlands and Germany will report. The effect of the new definition on treaties with other countries will also be considered.
Some of this topic is addressed in the new book "European Union Direct Taxes", by the International Tax Professor Salvador Trinxet Llorca.
In indirect tax, the current more important issue is the practical consequences of the adoption of the Regulation implementing the EU VAT Directive in January 2011.

OECD talks about SME Internationalization

This realisation was at the heart of the 2007 OECD-APEC study on Removing Barriers to SME Access to International Markets, which provided general findings on the major barriers to SME internationalization as perceived by SMEs and policymakers in OECD and APEC member economies. The need to obtain a greater depth of understanding and an updated view of the issues raised by the OECD-APEC study provided a raison d'être for this follow-up project. Other value adding features include the additional focus on motivations for SME internationalization ; the coverage of recently available documentation from economies involved in the OECD enlargement (Chile, Estonia, Israel, Russia, and Slovenia) and enhanced engagement process (Brazil, China, India, Indonesia, and South Africa); and the sub-national and sectoral insights offered on SME internationalization barriers, motivations and support programs.

 Internationalization and international entrepreneurship among small and medium-sized enterprises (SMEs) has remained a topic of considerable contemporary relevance, principally owing to the observed growth effects of cross-border venturing, and the demonstrated capacity of SMEs to drive economic development at national, regional, and global levels (European Commission, 2007).