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Disney is going OFFSHORE to Produce Animation

Disney is eying offshore markets for a long time. Walt Disney Co. the well known entertainment giant will now team up with several Offshore Japanese companies to produce animation for Japan, a Disney official said Thursday [March 13, 2007]. Toei Animation Co., Jinni’s Animation Studios and Madhouse Co. will be working with Walt Disney. This offshore move was aimed at localizing contents of Disney products for a wider audience which fit the Japanese animation market to further boost the popularity of Disney in Japan. With Madhouse, Disney will produce a 30 minute TV program name “Stitch!,” an offspring of the Lilo & Stitch series.

Hanako, who is from Japan will play Stitch’s sidekick in the new show and the story will take place in a southern Japanese island, instead of in Hawaii.
With Jinni’s Animation Studios, Disney will make “Fireball,” a short animation series which will go on air in April 2008 on Disney’s cable channel and Tokyo Metropolitan Television.
A short animation “Robodz” for television with Toei Animation, expected to be aired in June 2008.
Toei Animation was working with Disney seince 2006.

Disney has its own animation channels in more than 97 countries, including Japan, where it launched its first Disney Channel in 2003.
Walt Disney has produced TV series and films in other countries before, but this is the first time Disney is doing every thing with offshore companies.

Bids Submitted for Offshore Gulf Lease

Today oil prices again pushing hard $112 a barrel in the market, 78 energy companies put up 1,057 bids on 615 tracts off the coasts of Louisiana, Mississippi and Alabama that could produce oil and natural gas, a federal agency said Tuesday. [source: Associated Press]. The bids for drilling rights in the Gulf of Mexico will be opened in New Orleans by the Minerals Management Service. Also there will be 58 bids by five companies for 36 tracts in the eastern Gulf, an area 125 miles away from the Florida Panhandle. Eastern Gulf area is believed to have 1.4 (+/-) billion barrels of oil and 7 trillion cubic feet of gas. This is the first time that bids have been taken on Gulf region.

A central Gulf auction last October 2007 resulted in 1,428 bids on 723 tracts, total high bid value of $2.9 billion, the second largest bidding war in the Gulf’s history. That sale had been delayed by Louisiana and the federal government state’s share of offshore royalties. Last year 2007 oil prices were pushing $90, with the weakening dollar, oil prices have hit $110 threatening to reach the mark again as the offshore auction approaches. Louisiana will receive more than $13 billion over the next 30 years as part of the revenue sharing.

On Tuesday March 18, 2007, crude oil for April delivery rose $3.74 to settle at $109.42 a barrel on the New York Mercantile Exchange.

Overseas funds bet on bigger yuan gains.
* source: People’s Bank of China [PBOC])

The People’s Bank of China [PBOC] said Friday [March 14, 2008] it expects growth in consumer prices to remain raised above ground level in the first half, and warned all the offshore trader inflationary pressures could keep on an upward trajectory for a long period. The central bank of China also said the rate of growth in the economy was likely to 2008. The The People’s Bank of China said it would use interest rates to cool demand growth and overcome inflation while bank reserve ratios could be increased to help manage liquidity. Offshore Bank investors are betting on higher gains in China’s currency than domestic regular traders, China’s central bank said in a report today [March 19, 2008]. When you are trade over the counter in domestic and offshore markets and on the CME [Chicago Mercantile Exchange]. The domestic price of the dollar yuan forward was the highest in 2007 of the three markets, as of PBOC [People’s Bank of China]. The Chinese yuan appreciated 7 (%) against the U.S. dollar in 2007, compared with a 10 (%) percent gain in its offshore forward price. Offshore traders are biding on a 12 (%) percent advance to 6.33 (+ or -) in the next 12 months in 2008, as shown in forward contracts.

Tax Havens country Albania:

As of January 1st, 2008, Albania implemented the 10% flat tax system, one of the lowest in Europe,” Albanian Prime Minister Sali Berisha told a business community meeting in late March. Corporate taxes, currently at 20%, are to be slashed in half. Social security contributions from businesses will likewise be capped at 10%. The government of Albenia will widen the taxable base and simplify tax administration, while also making Albania an easier place to invest.

Finance Minister Ridvan Bode told the press “The flat tax helps eliminate the potential arbitrage between corporate tax, dividend taxes and the income tax,”. This changes will lead to a more streamlined fiscal system. VAT and other taxes will also be gradually reduced for investors.

Albania Standard rate of corporate tax is 20%. Company can carry forward losses for 3 years. But this does not apply when there are changes of more than 25% in ownership. The non-resident individuals are taxed on their Albanian sourced income.
Salaries and other payments* are subjected to income tax rates as given below:
1.Taxable monthly income (0-14,000 Lek) : Tax (0 + 1% of the amount over 0 Lek)
2. Taxable monthly income (14,000 - 40,000 Lek) : Tax (140 Lek + 5 % of the amount over 14,000 Lek)
3. Taxable monthly income (40,000 - 90,000 Lek) : Tax (1,440 Lek + 10 % of the amount over 40,000 Lek)
4. Taxable monthly income (90,000 - 200,000 Lek) : Tax (6,440 Lek + 15 % of the amount over 90,000 Lek)
5. Taxable monthly income (200,000 - above ) : Tax ( 22,940 Lek + 20 % of the amount over 200,000 Lek)

List Of “Tax Haven” Countries
Alderney, Anguilla, Antigua, Aruba, Austria, Bahamas, Barbados, Belize, Bermuda, BVI, Campione, Caicos Islands, Cayman Islands, Cook Islands, Costa Rica, Cyprus, Gibraltar, Grenada, Guernsey, Hong Kong Mauritius, Ireland, Isle of Man, Jersey, Labuan, Lechtenstein, Liberia, Luxembourg, Madeira, Malta, Marshall Islands, Melilla, Monaco, Nauru, Netherlands, Nevis, Niue, Panama, Sark, Seychelles, Singapore, St. Vincent, Switzerland, Turks Islands, United Kingdom, Uruguay, Vanuata, Western Samoa

What is TAX HAVEN?
* A tax haven is a country, which provides a no tax at all or low income tax environment. Also a tax haven is a country or place where certain taxes are ignored at a low rate or not at all.
* A country or independent region where taxes are low [princeton.edu]
* TAX HAVEN is a country that has little or no income taxation. Some of these jurisdictions survive on import duty taxes. Like Panama make offshore income exempt from taxation and instead impose a fixed tax of $300 a year on a corporation. Panama is a tax haven [panamalaw.org].

Albania: As of January 1st, 2008, Albania implemented the 10% flat tax system

Andorra: Famous for being an independent tax haven nation located between France and Catalonia.

Anguilla: Anguilla is located in the Caribbean with a successful tourism economy. Tax system is based on consumption, not income, and rewards productive behavior. Anguilla has taxes, but it doesn’t have a sales tax, VAT, GST, income tax, profits tax, capital gains tax, or inheritance tax.

Antigua and Barbuda: Standard rate of 15 per cent is been considered for the Antigua and Barbuda Sales Tax.

Aruba: Aruba is a Dutch island in the Caribbean just off Venezuela. Banks Investment and interest income is taxed on the usual offshore basis at 2.4% and 3%.Aruba is a popular tourist destination with no crime at all.

Bahamas: There are no taxes on capital gains in Bahamas, corporate earnings, personal income, sales, inheritance, or dividends; a 1-2% tax/year on property ownership, and a few import taxes.

Bahrain: no tax

Barbados: A tax haven low tax country is Barbados. Up to ten years exemption from taxes on corporate profit for manufacturing and production Industries. Special tax rate of 2 1/2% on net profits for Information Technology Services Sector.

Belize: 6% tax on companies operating within the Belize market. Investment Freedom - 50%. Belize generally is open to foreign investment. Full foreign ownership of businesses is legal in Belize. Laws and regulations do not seriously impact investment capital. Both residents and outsider may hold foreign exchange accounts with government approval.

Bermuda: Bermuda has to be 60% owned by Bermudians.

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# image source: http://writersgateway.wordpress.com/2007/06/

Frequently used OFFSHORE terms:

* Offshoring: active movement of companies to offshore production, research and developments.
* Offshore financial center: tax haven, jurisdictions which linked financial business with non-residents.
* Offshore bank: relates to the banking, a business can open an offshore account to run business and operate cash flow
* Offshore company : relates to the business.
* Offshore construction: relates to construction out to sea like drilling for natural resources such as gas, oil, gold.
* Offshore investment: relates to the wider financial services such as stock market, bonds, international currencies, luxury investments.
* Offshore fund collective investment in offshore location in bank or financial center.
* Offshore trust: trust arranged in offshore jurisdictions to server client(s) needs.

The benefit of Offshore production:

Offshore Production involves with relocation of physical manufacturing location or processes to a cost effective (LOW COST) destination(S). Examples of production offshoring include the manufacture components in Taiwan (World Leading Technologies in Taiwan: Semiconductor Manufacturing, Biotechnology, Bicycle Building), production of apparelS, toys, and consumer goods, cosmetics, textiles in China, Vietnam etc.

Production offshoring got its biggest push when the NAFTA (The North American Free Trade Agreement [Spanish: Tratado de Libre Comercio de América del Norte]made it easier for US manufacturers to shift production department from the US to Mexico. This offshore trend is keep shifting country to country, which offered cheap prices. Offshore production is happen where low wage rates, no labor laws, cheap loans, less environmental regulations, and huge economies of scale based on area where million workers dedicated to producing a single line of product.

Product design, research and the development process are relatively difficult to offshore because research and development to improve products and create new reference designs requires a skill set + lots of communication and testing. For this reason only the manufacturing happen to be offshored by the companies wishing to reduce their costs.

what is offshore?

The term Offshore means relocation of business processes from one country to another or multi national. The term offshore also means business process such as production, manufacturing, or services. Multinational country can have an offshore bank account for cut down the transaction process, when production off shoring or services offshoe can cut down the cost of manufacturing products.

The well known example in China. China is the prominent destination for production offshore/ offshoring. After technical progress in VOIP (voice over ip telecommunications) improved the possibilities of trade in services, India became a country leader of offshoring/ offshore customer service provider for United States, Canada, Europe, Japan. Company like Dell, Microsoft, IBM’s is now providing offshore call centre from India

The economic logic of OFFSHORE is to reduce costs, increase profit margin. If one part of the world population can use some of their skills more productively and cheaply than others, those people have the comparative advantage. In that situation offshore became so popular.