Pricing intercompany loans in China

How do companies price intercompany loans in, and from, China, especially when these are part of a cash pooling arrangement? The main concern here is tax, and participants are finding their tax departments are becoming more involved in this question .

The report is based on a Treasury Peer Call which took place on 13th March 2021.

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey.

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CHAIR’S COMMENTARY

China will continue to provide employment to treasurers for a long time to come. As always, cash pooling and cross-border intercompany loans are a good story: it is possible to do most things. But, as usual with China, there are complexities and unresolved issues.

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Approaches to funding subsidiaries

The increase in use of equity funding, the complexity of transfer pricing discussions and using house banks for long term funding are some of the topics covered in this report which explores the different approaches that companies take to funding their subsidiaries and how their processes are evolving.

The report is based on a Treasury Peer Call which took place on 18th March 2021.

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey.

Click here to get updates & find out more about CompleXCountries

CHAIR’S COMMENTARY

This call came out of a series of discussions with treasurers: we spend a lot of time worrying about intercompany loans, external funding locally, etc. But a lot of these issues arise as a result of a series of key decisions, which are strategic and often historical: how do we structure our subsidiaries?

This is a complex decision. A non-exhaustive list of considerations includes:

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Treasury & FX in Ukraine

This call, attended by six senior treasury peers representing five multinational corporations
across the UK, Europe, and US, was focused on peers’ perspectives of the current situation in
Ukraine, the issues they face and their approach to these issues.

The call was chaired by Arnaud Francq

This report (in full below) was compiled by Monie Lindsey

Summary of peer call findings

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Treasury & FX in Mexico

For the Latin American region, Mexico stands out as being unusually easy to operate in: there are no exchange controls, pooling is allowed, accounts can be operated from offshore, hedging is easy. So it works….however, nothing is perfect. This report explores issues related to banking in light if Citi’s exit, and opening bank accounts, maquiladore structures, tax issues and FX.

The report is based on a call chaired by Damian Glendinning whose summary appears below.

This report was compiled by Monie Lindsey is available in our Report Library.

If you would like a Free copy of the full report, please get in touch

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Treasury & FX in the Caribbean

Senior corporate treasurers from companies based in USA, Europe and Latin America share their experiences of treasury & FX in the Caribbean, including accessing FX, the impact of Covid 19, Regional Banking and dealing with Cuba

Call date: 11th March 2021

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey.

Would you like a copy of the full report?

Please contact us if you would like a copy of the full report (8 pages) & we’d be happy to share.

Premium members and subscribers can access the full report in our Report Library.

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Treasury & FX in Angola

Angola presents very tough challenges for corporate treasurers, especially when oil prices are low. In this call participants shared experiences in accessing hard currency, repatriation of cash, banking relationships and local investments.

The call was expert chaired by Arnaud Francq Key Take Outs are listed below

This report was compiled by Monie Lindsey

If you would like a free copy of the full report please get in touch.

The report is available in our report library for premium members and subscribers.

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Corporate Treasury LIBOR Project update

Corporate Treasury LIBOR transition

In this call, senior treasurers from seven MNCs in Europe and the U.S.A discussed their LIBOR transition projects. This report details their approaches to transition, the current status of their projects and their concerns.

Call date: 17th Jan 2021

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey. The full report appears below.

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Planning For Unknown Risks

This recording comprises an expert interview presentation from Karamjeet Paul, Managing Principal of the Strategic Exposure Group. In this session, Damian Glendinning who was a client of Karamjeet’s when he was responsible for Enterprise Risk as Treasurer of Lenovo explores the concept of ‘Unknown unknowns’ and how they can be approached from a risk strategy perspective.

Post Covid Treasury Relationships

Post Covid Treasury Relationships

In the light of COVID – what lessons have been learned and how do treasurers  plan to approach: priority setting and planning, managing remote treasury teams, issues arising from organisational silos external relationship management e.g. banks.

Call date: 17th Dec 2020

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey.

Please contact us if you would like a copy of the full report (8 pages)

More on COVID Treasury

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Wallet share and bank fee analysis

Bank fee analysis & wallet share

Following our report ‘Approaches to Bank Relationship Management‘ describing diverse approaches to monitoring bank fees and calculating wallet share. This report comprises a deeper dive into how treasurers approach these issues.

The topics addressed include:

  • Approaches to 
    • Analyzing and checking the fees that banks charge
    • Estimating how much banks make; their wallet share of your business
    • How you determine and award business to your banks
  • The benefits realized from your approach

Call date: Nov 5th 2020

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