Events and Trends Vol. 228
FEATURE - Re-engineering the Organisation: Managing talent in the day after tomorrow
This report targets financial services organizations that are rethinking their talent management strategies in a fundamentally changed business, capital and regulatory environment. Written by PricewaterhouseCoopers HR specialists from around the world, it builds on February’s “The day after tomorrow: a PricewaterhouseCoopers perspective on the global financial crisis.” The emphasis is on what needs to be done now to succeed in the new environment through more effective governance and a better balance between risk and reward.
ISSUES
Issuing Depositary Receipts in Taiwan: An overview of the planning process
Taiwan’s investing public has shown a strong appetite recently for secondary share issues by overseas listed firms. The positive reaction to “Taiwan depositary receipts”, reflected in heavily oversubscribed offerings and high P/E ratios, is encouraging a growing number of firms to consider following suit. Here is a rundown of the steps involved in applying to list depositary receipts in Taiwan. (Eric Wu and Christy LC Lin)
Tax Law Doctrine and the “Substantive Taxation Principle”
Taiwan’s tax authorities have always sought a balance between general principles, which are broadly applicable but tend to be vague in practice, and specific guidance which tends to become unwieldy in the face of the vast variability and manipulability of economic activity. A case in point is the conflict and interplay between general tax law doctrine and the principle of “substantive taxation”, whereby those enjoying the substantive benefits of an economic activity should be the ones to pay tax on it. (Eric Tsai)
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