Protecting Your Business Against Tax Investigations

Setting up a business has never been easy. Aside from time, you have to sacrifice days and even nights just to ensure that it will be successful. You have to talk with a million people and sign a billion of forms. Oh, and you have to make sure every operation has gone through legal inspection and was approved by the authorized personnel!

Seems like the start of a headache, right? Well, wait to hear this. Aside from these nuisances, you also have to deal with taxes! Recently, there have been some new actions from government tax collectors. They are now doing tax amnesties in order to ensure that businesses are paying the right amount of tax.

Of course, this becomes a big problem, especially for small business owners. Even though you were able to pay all your taxes on time, there is a possibility that the tax collectors will perform tax investigation in your company. Oh, and you have to pay for that investigation!

So how can you lessen that possibility of having a tax investigation? More importantly, how can you protect your business from the risk of a tax investigation? There are a thousand and one way to do this. The most important thing is to always keep an accurate recordkeeping. Also, make sure to understand all your tax responsibilities.

Another way to protect your business is through insurance. Nowadays, many companies are now offering an insurance against tax investigation. So how does this work? This insurance type covers the cost of defending your business against investigations, VAT, and even self-assessment. It can also help when you opt to appeal in the local court’s system. Included in this insurance is a good tax protection cover which can afford you with the access to a legal and tax advice helpline for whenever you need it.

Remember that when setting up your business, there are risks that you need to shoulder on. Moreover, you have to protect your business for it to be successful. Though tax insurances can be expensive, it will help you a lot in the coming days, especially when problems arise.


Newly Improved Grooved Decking And Cedar Shake Launched

After the sale that Royal Building Products made with Westlake Chemical Corp., the company is now launching its new grooved decking as well as cedar shake that is expected to be next huge seller thus the company decided to add to its capacity.

Nowadays, contractors are looking for products that are easy to install while consumers are in search for decks made of natural wood but would require no maintenance. These are the reasons why there is a higher demand for the growing lines of decking made of cellular PVC named Zuri while the siding is named Cellular Celect. This is according to the senior vice president of the company, Simon Bates, in a statement made during the International Builders’ Show.

Royal is a subsidiary of Royal Group Inc. based in Woodbridge, Ontario and the parent company is Axiall Corp. It was only last summer when it was acquired by Westlake, a company based in Houston, for $33 for every share. The enterprise value of the sale amounted to approximately $3.8 billion which already accounts to the debt and certain liabilities of Axiall.

Before the deal was finalized, there a lot of issues surrounding the deal including heated negotiations, rumor of takeover bid coming from Lotte Chemical Corp. and threats of entering a proxy fight. Eventually, Axiall and Westlake were able to agree and the acquisition resulted to the second biggest producer of PVC found in North America and the leading company in manufacturing vinyl building products.

Bates said that 2016 was a challenging year for them since the transaction only started on August 31. He admitted that the transition was quite smooth afterwards especially on the part of the people under the building products. They feel that they are already in a good place knowing that they are wanted by a large and successful company such as Westlake.

Royal was able to grow because of thseir two top products – Zuri decking and Celect siding. Bates is optimistic that their newly released groove decking will outshine the other regular boards. It is common for newer and better products to be used by contractors such as Fiberon Decking.


Apple Moving To Ireland Due To Taxes

Apple, the technology firm giant, will be moving the current headquarters of its global iTunes business from Luxembourg. At the start of this month, they will be heading to their new headquarters located in Ireland.

The company made an announcement last year in September regarding the plan to move and it is now following through. During the time of announcement, Apple has already moved its iTunes assets worth around $9 billion to the island country. Its existing developer contracts have also been moved to one of the entities of the company located in Ireland, Apple Distribution International.

In a note that was sent to all the developers, starting 5th of February, the all of the operations of iTunes under Apple which are done outside the US soil will be done in its new European headquarters located in Cork, Ireland. Some of the businesses that are included in the move will be the iBooks Store, the iTunes Store, the App Store and Apple Music.

After the operation of iTunes has been established in Cork, Apple will start to mark it as the company’s expansion of core business in the country. There are currently 5,500 people employed by Apple in Cork and in an announcement last year, the company expressed its intention of expansion which will create another 1,000 jobs within 18 months.

Cork is the second largest city of Ireland and Apple is currently its largest employer in the private sector. According to an estimate made by economists, the operations conducted by Apple in Ireland will result to an annual amount of $24 billion which will cover investment, taxes and salaries.

There have been previous indications that the company will be moving but it is still viewed as a way of the company to show that European Union officials what they felt despite the rigorous regulations imposed on the technology firm during its operations in Ireland.

The issue started because of the generous tax structure of the country when it comes to corporate businesses. The country only requires 12.5 per cent of tax from corporations that are within its borders while the United States is requiring a 35 per cent tax for corporate firms.

Apple was given a better deal so long as the company decided to moves its European headquarters branch to Ireland. The agreement is that the country will give Apple permission to sell its products and the imposed tax will be less than one per cent.

Many companies are moving because of the issue with tax. For companies moving from and to UAE, it is best to contact a trusted moving company such as Wise Move in Dubai.


Ideal Business Settings For BPM Core Application

Business execution is different than what is was a few decades ago. Having offshore units are almost a remote idea. However, with globalization and with the advent of communication and technology, the world became a massive playing field for various industries. With the world becoming smaller, it is no longer hard to imagine having the production or project in one country while the project management team is in another area.  Business process management is no longer a vision, it is already here and being utilized by successful and competitive industries. Having a well-structured bpm core: Process Analysis and Execution is essential in order for an organization to have a clear definition of roles, functions, chain of command and other relevant aspects of project management. While there are businesses that suits the traditional way of business execution, there are those that are suited to apply BPM in order to get more competitive advantage over the other entrants in their respective industry. Here are some business settings where bpm core: process analysis and execution is highly suitable.

  • Companies with independent business units should have their own project management especially if they have their own way of accomplishing targets and results delivery. An effective workflow diagram would come handy in such a case wherein there is a clear presentation on where decisions should come from and how other members of the team would carry out their roles.
  • Industries that directly engage with customers should also utilize the concepts behind bpm core: Process Analysis and Execution in order to understand how end-to-end process works and how the entire organization can achieve its overall targets.
  • Business units with core functions in the organization would also benefit by using BPM core. Organizational units such as the Finance and HR can easily standardize their processes with an effective tool.


Shine Retirement Blog: Your Guide To Finding A Retirement Village

Finding a retirement village where you can spend your careless and worry-free days is important. Take note that you will spend your days in such a village so you need to ensure that you will find a conducive, enjoyable and engaging community. You can check Shine Retirement blog for ideas or you can simply browse through the internet to find a retirement village suited to your preference and needs. In order to arrive at the right community, you may want to consider the following ideas.

Choose a location close to your family

When looking for a retirement home, consider a village that is close to where your family members are. This way, they can easily visit you on weekends or whenever they feel like doing so. If there are emergencies or you need something from them, your family members or close friends can easily get to you because of your proximity.

Consider your preference and idea of retirement home

You surely have an idea of your dream retirement home and if you are having second thoughts between choosing a home by the beach or somewhere closer to the urban area, check on Shine Retirement blog for ideas. You can also find consultancy firms online that offer comprehensive assistance that are related to your moving to a new home. These consultancy firms will help you find the right retirement village for you and will arrange the transfer of your belongings to your new home, sell your old house, manage your finances and handle practically everything to make your transfer to a new home a convenient experience for you.

Check your budget

When choosing a retirement village based on the recommendations of Shine Retirement blog, always consider your budget. Determine how much you currently have including your expected money out of selling your house and other properties. When you know how much money you actually have, you can easily budget the amount and choose a retirement home that is suited to your finances and preference. Choose a retirement village that is affordable and at the same time, engaging.