Global Sourcing: Destination Australia
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1 Global Sourcing: Destination The World Webinar Series Global Sourcing: Destination Australia June 21, 2006 Suresh Gundappa, neoit Anne-Marie Allgrove, Baker & McKenzie Anthony Foley, Baker & McKenzie Paul Brown, Baker & McKenzie Ben McLaughlin, Baker & McKenzie Michael Mensik, Baker & McKenzie LLP Baker & McKenzie International is a Swiss Verein with member law firms around the world. In accordance with the common terminology used in professional service organizations, reference to a partner means a person who is a partner, or equivalent, in such a law firm. Similarly, reference to an office means an office of any such law firm.
2 Global Sourcing: Destination The World Webinar Series! Global Sourcing: Destination China (Update) in July (exact date TBD) Registration 2006 Baker & McKenzie 2
3 Baker & McKenzie - Australia " Anthony Foley " Anne-Marie Allgrove " Ben McLaughlin " Paul Brown Europe/Middle East Amsterdam Antwerp Bahrain Barcelona Berlin Bologna Brussels Budapest Cairo Dusseldorf Frankfurt Geneva Kyiv London Madrid Milan Moscow Munich Paris Prague Riyadh Rome Stockholm St. Petersburg Vienna Warsaw Zurich Asia Pacific Almaty Baku Bangkok Beijing Hanoi Ho Chi Minh City Hong Kong Jakarta Kuala Lumpur Manila Melbourne Shanghai Singapore Sydney Taipei Tokyo North/South America Bogota Brasilia Buenos Aires Calgary Caracas Chicago Dallas Guadalajara Houston Juarez Mexico City Miami Monterrey New York Palo Alto Porto Alegre Rio de Janeiro San Diego San Francisco Santiago Sao Paulo Tijuana Toronto Valencia Washington D.C 2006 Baker & McKenzie 3
4 Silicon Valley Bangalore Atlanta Dallas Delhi Kansas City Manila About neoit Global Sourcing: Destination Australia A consulting firm singularly focused on helping Global 2000 improve operations and grow their business by capitalizing on services globalization Deep globalization experience and expertise Recognized industry thought-leaders Track record of advising on successful client transformation Trusted advisors to C-level executives and management Knowledge & Research Operations Improvement Expansion & Growth 2006 neoit All rights reserved. Reproduction of this document or any portion thereof without prior written consent is prohibited Risk Management 2006 Baker & McKenzie 4
5 Agenda I Business Environment II Legal and Tax Environment 2006 Baker & McKenzie 5
6 Why Australia Low Risk Destination Assets " Human Resources High quality, educated labor pool Cost savings medium cost Language compatibility English, European, Asian languages Cultural compatibility US and European companies " Location Easy accessibility Nearshore for Asian companies Time zone advantage Liabilities " Service Providers Few players of scale Presence of other industries " Promotion Lack of promotion- capabilities not made known " Infrastructure Good telecom infrastructure Good physical infrastructure Good power infrastructure " Government Good IP protection Stable political climate Business -friendly policies- low tax " Catalyst Factors " Good Quality of Life " Presence of other industries - mature financial services market 2006 neoit All rights reserved. Reproduction of this document or any portion thereof without prior written consent is prohibited 2006 Baker & McKenzie 6
7 Global Sourcing: Destination Leveraging Australia IT Services " Software/Application Development " Software Maintenance & Support " Software Testing " Infrastructure " Technical Support " Customer Support BPO " Contact Centre " Analytics Services in BFSI ( Banking, Financial Services & Insurance) " Equity research, corporate finance and M&As " Corporate credit, structured finance and project finance " Retail banking " Strategic functions " Actuarial services Global Companies Service Providers 2006 neoit All rights reserved. Reproduction of this document or any portion thereof without prior written consent is prohibited 2006 Baker & McKenzie 7
8 Australia vs. Other Destinations BPO India Future Attractiveness China Czech Republic Brazil Hungary Malaysia Poland Mexico Canada Ireland Philippines Australia Romania South Africa ITO Russia India Current Attractiveness Future Attractiveness Australia Poland Malaysia Russia Czech Republic Hungary Mexico Brazil Philippines Ireland China Canada South Africa Romania Current Attractiveness 2006 neoit All rights reserved. Reproduction of this document or any portion thereof without prior written consent is prohibited 2006 Baker & McKenzie 8
9 Key Factors Global Sourcing: Destination Australia Australia as a Services Globalization destination in coming years " Human Resources " Education Availability of low cost computer education " Availability of higher end research & analytical courses " Infrastructure " Technology parks " Government " Industry Government collaboration " Tax benefits for captive centers " Encouragement for R&D " Image branding " Political issues " Service Providers " Vertical Integration of service providers " Developing on Strengths - Telecom service providers, Financial Services, Analytical, Infrastructure etc neoit All rights reserved. Reproduction of this document or any portion thereof without prior written consent is prohibited 2006 Baker & McKenzie 9
10 A Portfolio Approach Portfolio Allocation (in %) Function 15% Risk Culture/Fit Complexity Biz Objectives India Brazil Singapore Russia Philippines Canada Australia Reward Captive Investment ROI 3 rd Party Strategic ROI 2006 neoit All rights reserved. Reproduction of this document or any portion thereof without prior written consent is prohibited 2006 Baker & McKenzie 10
11 Contact Information Suresh Gundappa Senior Director (m) neoit Global Headquarters 2603 Camino Ramon, 2nd Floor San Ramon, CA USA Bangalore, India 210, Bellary Road Upper Palace Orchards Bangalore India Manila, Philippines 8/F Pacific Star Building Senator Gil Puyat Ave. cor Makati Ave. Makati City, Metro Manila, 1200 Philippines 2006 Baker & McKenzie 11 www. neoit.com
12 Agenda I Business Environment II Legal and Tax Environment 2006 Baker & McKenzie 12
13 Australia A sophisticated destination Key legal considerations:! Contractual and legal environment! Foreign investment rules! Tax incentives! Tax/structuring issues! Employment! IPR protection! Privacy! Commercial 2006 Baker & McKenzie 13
14 Contractual and Legal Environment! Federal system of Government! Constitution! Federal laws govern corporate, tax and IP! Courts - High, Federal, State, District, Industrial! Judgments and contracts are enforceable! Independent v Captive Operations 2006 Baker & McKenzie 14
15 Foreign Investment Rules! Certain foreign investments require approval of Australian Treasurer under advice of the Foreign Investment Review Board (FIRB)! Under the Australian US FTA, FIRB established thresholds for investments to be submitted for approval. Thresholds subject to annual indexation.! For acquisitions by US enterprises, thresholds for 2006: # Acquisition of/investments in existing Australian companies/business in non-sensitive sectors: AUD831m (USD620m) # Investments in prescribed sensitive sectors or where acquiring entity is controlled by a US govt: AUD 50m (USD38m). Sensitive sectors include investments in real estate, real estate developments, defence, banking, aviation, media and telecommunications.! For acquisitions by non-us enterprises (including an Australian subsidiary of a US company), an acquisition/investment above AUD50m must be submitted to FIRB for approval Baker & McKenzie 15
16 Tax incentives! Regional Headquarters # Deduction allowed in the year of expenditure for certain costs incurred in setting up a Regional Headquarter Company (RHC) in Australia # Can apply to be a RHC if intend to establish facilities in Australia mainly for the purpose of providing regional headquarter support being management, data or software support to associated companies located outside of Australia # Note concessions do not apply to costs relating to feasibility studies, depreciating assets, equipment, land or buildings! General Start-up Costs # Deductions allowed for capital expenditure incurred to establish or convert a business structure or raise equity # Limited to expenditure not otherwise recognised for tax purposes # Examples are costs incurred in incorporating a company to carry on business in Australia and costs incurred in preparing/issuing a prospectus. # 20% deduction in year incurred and each of the next 4 income years 2006 Baker & McKenzie 16
17 Tax/Structuring issues! Stamp duty payable by acquirer: 0.6% for acquisition of shares; up to 5.5% for an acquisition of assets/business (subject to exemptions). Payable on a state by state basis.! Goods & Services Tax (GST) of 10% payable for an acquisition of assets which is not a going concern. Operating similar to VAT, amount payable is usually recoverable from the Australian Government. There are particular GST issues relevant to outsourcing in the financial services sector.! Australian companies pay 30% capital gains tax on the profit on the sale of capital assets. The Government has announced that it proposes to exempt from this rule the sale by nonresidents of shares in Australian companies Baker & McKenzie 17
18 Employment! Comparative high level of external regulation by: # Unions # Industrial tribunals # Government! New National laws effective March 2006 to facilitate sitebased industrial relations outcomes! Declining use of penalty rates of pay outside core hours Baker & McKenzie 18
19 Intellectual Property! Sophisticated and mature regime for protection and regulation of IPR! Federal legislation protects trade marks, patents and industrial designs as well as copyright (no need for registration of copyright)! Company and business names! No legislative protection for trade secrets as such! Protection of confidential information! Importance of contractual terms! No Work for Hire doctrine 2006 Baker & McKenzie 19
20 Privacy! Federal Privacy Act! Increasing exposure to privacy risk! Privacy Act regulates all aspects of how businesses handle personal information! Personal information is any information that identifies someone: name, telephone number, credit card number, photograph, address etc.! Business obligations are set out in ten National Privacy Principles addressing amongst other things # Collection # Use # Disclosure # Keeping secure # Giving access # Offshore transfer # Disposal! Employee records exemption! Application of Act to contractors 2006 Baker & McKenzie 20
21 Commercial! Legal Environment - reformed but regulated! Australian Prudential Regulatory Authority (APRA)! Transparency v Good Governance! October 1, new prudential standard! Risk & Change! Sophisticated business models 2006 Baker & McKenzie 21
22 Conclusions! Attractive destination! Mature outsourcing market! Sophisticated and robust legal system 2006 Baker & McKenzie 22
23 Questions? Anthony Foley Baker & McKenzie 50 Bridge Street Sydney NSW 2000 Tel: anthony.foley@bakernet.com Anne-Marie Allgrove Baker & McKenzie 50 Bridge Street Sydney NSW 2000 Tel: anne-marie.allgrove@bakernet.com Suresh Gundappa neoit 2603 Camino Ramon Suite 200 San Ramon, CA Tel: suresh@neoit.com 2006 Baker & McKenzie 23
24 Please take a moment to complete the following survey. Thank you! 2006 Baker & McKenzie 24
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