TCS Global    |    Careers    |    Newsletter    |    中文

TGS global wins at the International Accounting Bulletin annual awards

October 17th, 2014   •   no comments   

TGS Global, the new international network of accounting firms has beat off strong competition to win the “rising star” award. The judges honoured tgs because of its strong global growth, clear modern brand and focus on supporting SMEs around the world through business development programs and initiatives.

On 16th September 2014 the International Accounting Bulletin hosted its annual global industry awards which reward worldwide best practice in the accounting profession.

James Frost, CEO of TGS Global commented “We are delighted to receive this award, in our short history we have achieved some significant goals and have attracted strong value and growth orientated members and we have ambitious plans for the future. I would like to thank the judges, the IAB and the sponsors of the award for recognising these accomplishments.”

TGS Asia Pacific Conference hosted in Hong Kong – 21st August 2014

September 5th, 2014   •   no comments   

TGS Asia Pacific Conference was successfully held on 21st August 2014 at the Royal Hong Kong Yacht Club. Delegates from the TGS Global office as well as representatives from member firms in UK, Shanghai, Singapore, Taiwan, Indonesia, Thailand and India participated in this regional meeting. Kenneth Young, Managing Director of TCS Hong Kong and Chairman of the TCS Asia Pacific network greeted the delegation and gave an opening speech. He highlighted the importance of exploring business development opportunities within the network for mutual benefit. The conference successfully fostered an atmosphere of cooperation and partnership among the delegates through presentations and discussions. Delegates managed to relaxed over a nice Chinese dinner at the end of the day.

See our conference highlights below.

 

TGS Global Shortlisted for IAB’s Rising Star Award

July 22nd, 2014   •   no comments   

TGS Global has been named as a finalist for the “Rising Star Network” Award in the International Accounting Bulletin Awards (IAB) for 2014.

The IAB Awards were first held in 2012 and since then have become well respected across the industry. The awards celebrate the achievements of individuals and businesses who have contributed to moving the accounting industry forward.

James Frost, CEO of TGS Global, says “We are thrilled to be recognised as a Rising Star in the competitive arena of international accounting networks. The TGS network strives to be different and to offer SME’s a network of accounting firms that are truly internationally minded and being a finalist in this category shows that our service focus is on target.”

TGS Global Ranked 18th Largest International Network Accountancy Age World Survey 2014

July 11th, 2014   •   no comments   

Just 2.5 years after its formation, TGS Global has been ranked as the 18th largest global accountancy network in the 2014 Accountancy Age survey of the top 20 international networks.

TGS Global was created to challenge the existing status quo in the global accounting market, and currently has members in 48 locations across 30 countries around the globe. James Frost, CEO, says “Achieving this ranking after such a short time, is certainly positive and it demonstrates the resonance that our model of international networking has in the market.”

The TGS Global network is made up of dynamic, progressive accountancy firms. Every member of TGS shares the same values of entrepreneurship, growth orientation and focus on providing the highest quality service.

TGS has big plans for further expansion in the remainder of 2014, targeting key markets such as USA and Asia. James Frost continues “We see a lot of potential for future growth. We are finding that many top quality, progressive firms around the world are seeking a network that is offering something new, dynamic and focused on delivering high quality to entrepreneurs and SMEs. We aim to fulfil this need by providing a compatible network with their local goals and providing resources to support their international requirements.”

“For us a ranking of 18th is just the beginning. There is much more to come from TGS Global.”

China and Hong Kong Taxation Royalties on Intellectual Properties – new China Trade Mark Laws

July 2nd, 2014   •   no comments   

The China New Trade Mark Laws became effective on 1 May 2014, significant changes include making available of sound mark applications; strengthened well-known mark protection; increased statutory damage and fines against infringement, shortened trademark prosecution times, & etc.

Companies nowadays are equipped with marketing innovation; business protection relies on proper intellectual properties laws and regulations. It is common for business to take a closer look into the protection and enforcement of their valuable intellectual property rights in Asia.

There are both contentious and non-contentious intellectual property related matters such as handling worldwide trademark portfolio, initiating enforcement actions relating to anti-counterfeiting, and customs actions in China, Taiwan, Hong Kong and Macau to look out for. Clients are advised to plan and make the best use of their valuable innovations via laws of patent, registered design and trade secrets.

The tax aspect to royalty payment of Intellectual Properties is equally important. Withholding tax is payable for payment of royalties to a nonresident at a statutory rate of 20%. However, under the Double Taxation Agreement between China and Hong Kong, the rate may be reduced to 7%.

TCS Global expands into USA

March 21st, 2014   •   no comments   

TCS Global expands into USA

As of 1st March 2014, TCS Global appointed Gettry Marcus as it’s first member in the United States. Beginning in 2012 TCS Global, the international network of dynamic CPA firms, currently has representation in 48 locations in 28 countries.

Gettry Marcus has offices in New York City and Long Island providing accounting, tax, and consulting services to commercial businesses and high net worth individuals. They offer expert groups with specialist knowledge in the Real Estate and Health Care sectors amongst others. Gettry Marcus is one of the premier Business Valuation and Litigation Groups in the New York Area.

James Frost, CEO of TCS Global comments; “Gettry Marcus is clearly an outstanding firm, they are ambitious, entrepreneurial and dedicated to offering clients the best service possible, having a firm of the caliber of Gettry Marcus strengthens our capabilities as a network. I am delighted with their appointment to the TCS network.”

Steven Marcus, Managing Partner of Gettry Marcus, comments “We are excited about increasing our international presence and working with the other TCS member firms. We also look forward to the opportunity of helping the organization develop the North American market, as well as shaping the future direction of the organization. The member firms are like-minded and share the same culture. We hope to be an integral part of the organisation’s strategic growth.”

James Frost continued, ”The inclusion of Gettry Marcus in the TCS network is the beginning of an exciting new phase of development for TCS. Choosing the networks’ first member in the US was a key strategic decision, we wanted to select a firm that embodies all of the networks’ core values. We are now looking to add further complimentary firms in the major cities in the USA and I look forward to working with Steven Marcus and his team.”

For more information visit the Gettry Marcus website http://www.gettrymarcus.com/

Hong Kong Tax Budget 2014/15 – Maintaining Hong Kong as an attractive tax jurisdiction for business in Asia

March 12th, 2014   •   no comments   
Hong Kong Tax Budget 2014/15
Maintaining Hong Kong as an attractive tax jurisdiction for business in Asia

                                                                                                                               

Financial Secretary John Tsang delivered his second budget speech on 26 February 2014.

 

ECONOMIC PERFORMANCE

The revised forecast predicts a HK$12 billion surplus for the year 2013/14, well ahead of the forecast deficit of HK$4.9 billion. Land sales, stamp duty and profits tax remain the major sources of revenue.

A modest improvement in the economy is forecast with GDP growth of 3 to 4 percent for 2014.

The 2014 headline inflation rate is estimated at 4.6 percent.

FINANCIAL SERVICES

The government has announced a wide range of proposal to promote the finance sector, including:-

Proposes to issue inflation-link bond worth up to HK$10 billion with maturity of three years.

Proposes to waive stamp duty for trading of all exchange trade funds.
 

TAX CONCESSIONS AND ONE-OFF MEASURES

The Financial Secretary remains the profits tax rates unchanged for 2014/15. However, tax concessions and one-off benefits would be continued in 2014/15, including:-

A reduction in salaries tax and tax under personal assessment for 2013/14 of 75 percent, subjects to ceiling of HK$10,000.

A reduction in profits tax for 2013/14 of 75 percent, subject to ceiling of HK$10,000.

An increase in maintaining dependent parent or grandparent allowance.

A waiver of rates for the first two quarters of 2014/15, subjects to a ceiling of HK$1,500 per quarter.
 

INFRASTRUCTURE

Capital expenditure for 2014/15 will be HK$86 billion, exceeding around HK$70 billion of last year, including:-

Assisting the Airport Authority Hong Kong to press ahead with planning for a three runway system.

As for railways, a total cost of more than HK$10 billion are under construction.

As for the management of municipal solid waste, the government will invest about HK$30 billion in waste recycling and treatment facilities.
 

HOUSING

Residential property prices have more than doubled since 2008, the government would keep on execute cooling measures to avoid property bubble, including:-

The 2014/15 land sales program includes 34 residential sites capable of providing 15,500 units.

To increase housing land supply with a view to achieve the target of providing 470,000 residential flats in the next 10 years.

For further information, please contact Mr. Kenneth Young, international contact director for our firm in Hong Kong on kyoung@tcshkcpa.com. You can also visit our firm profile and our website www.tcscpa.com.hk.

TCS Hong Kong First Year Anniversary Celebration Dinner

December 23rd, 2013   •   no comments   

TCS Hong Kong First Year Anniversary Celebration Dinner

The first year TCS Hong Kong Anniversary Celebration Dinner was held on Thursday, December 19, at the Bankers’ Club in  Landmark, Central.

Mr. Kenneth Young, Managing Director of TCS Hong Kong, started the dinner by  thanking all parties that have contributed to the inauguration of the firm, shared key milestones achieved so far and outlined vision of the firm going forward. Staff and guests  enjoyed  the evening among nice food and the dynamic magic performance by our staff Victor. Each guest of the evening  wrote his/her  wish to the firm on a leaf that  built up a lush TCS  tree symbolizing  long term growth of TCS Hong Kong.

See our annual dinner highlights below.

 

Appointment of Julius Chan – Senior Manager

December 2nd, 2013   •   no comments   

Appointment of Julius Chan – Senior Manager

 

Julius has over 10 years of experience in the profession and has outstanding experience in the audit, from SMEs to publicly listed companies in Hong Kong. He has performed services for clients throughout China as well as in the US, Brazil, Australia and Russia.

He has provided financial due diligence and M&A services for clients on acquisition of companies in mainland China and Hong Kong, and has performed services for assisting companies to list publicly on Hong Kong Stock Exchange. He gained extensive experience in conducting listed company audits over a wide variety of businesses including retail, manufacturing, trading, property investment, agricultural businesses and e-commerce.

TCS Global delegation visited Hong Kong – 19th November 2013

November 20th, 2013   •   no comments   

TCS Global delegation visited Hong Kong – 19th November 2013

In advance of  the TCS Global Annual Conference which was successfully  held in Shanghai 20th -22nd November 2013, a team of delegates from the TCS Global office as well as representatives from member firms in UK, France and Germany visited  TCS Hong Kong. Kenneth Young, Managing Director of TCS Hong Kong greeted the delegation and presented to them “Marketing at TCS Hong Kong”. This was followed by gathering the delegates with clients and guests for a social function at the Royal Hong Kong Yacht Club where all TCS members and guests enjoyed the delightful evening among a few drinks, a spectacular harbour view of Hong Kong while exploring  business opportunities.

 

 

Jiujik Magazine Interview – Kenneth Young

October 17th, 2013   •   no comments   

Jiujik Magazine Interview – Kenneth Young

The Jiujik magazine of the South China Morning Post  interviewed our Managing  Director, Kenneth Young, in August. Kenneth talked about how TCS Hong Kong positioned itself as a young and dynamic professional practice. He also shared his vision in business development and talent cultivation.

Read the interview

Jeremy Newman to chair TCS Global

March 19th, 2013   •   no comments   

Jeremy Newman to chair TCS Global

Ex-BDO International CEO and Audit Commission chair takes role at newly formed network TCS Global

TCS Global was jointly founded by Top 100 firm Taylorcocks and France-based firm Soregor. It was officially launched in Paris in November 2012 and currently operates out of 41 offices in 18 countries.

Newman (pictured) has been appointed as non-executive chairman with immediate effect. He was previously managing partner of top ten firm BDO between 2001 and 2008, and then served as chief executive of BDO International, the fifth largest international network by fee income.

He is currently chairman of the Audit Commission, which he is helping to wind down following the government decision to farm out local audits to private firms, saving the government an estimated £100m per annum.

Newman also chairs the audit and risk committee for the Crown Prosecution Service, serves as chairman of trustees to a local primary school, and is a trustee of a number of private charitable trusts.

He was named 36 in Accountancy Age‘s 2013 Financial Power List of the most influential people in the profession.

In 2011, he served as a consultant to RSM Tenon when the old management stepped down following the discovery of accounting errors. Newman stepped down when new management was appointed to the listed firm later the same year.

Newman said: “If TCS Global had wanted to replicate what was there in the market place already, I would not have been interested because it is something I have already done. I got involved because it is something new and I am confident it will grow and develop.

“If you had asked me a year ago if there would be companies like this setting up a global accounting network, I would not have predicted it. It just shows I can be wrong.

“I can’t recall any network which has been set up primarily to proactively help clients, rather than in response to client needs. TCS Global understands that its clients need to think globally and can show by its own actions how its clients can make the most of international opportunities.” 

Page 1 of 212»