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HI5015-Legal Aspects Of International Business

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Questions:

1. Identify a multinational company (MNC) operating in Australia. Provide a brief description of the company including the following:
 
a. The industry the company operates in
 
b. Number of staff in Australia
 
c.  Number of staff globally
 
d. Location of global headquarters
 
2. Identify any legislative regulatory framework/s affecting the MNC you have identified operating in Australia and discuss why and how it affects the company. For example, multinational corporations, like local companies, are subject to 30 per cent corporate tax. 
 
3. Identify any treaties, conventions or agreements that have impacted on the products or services that your chosen MNC provides in Australia. How does it impact the provision of these products and services?
 
 

Answer:

1.Intel Corporation

Intel Corporation is an America based multinational organisation which was founded in 1968; the company operates in semiconductors industry, and it manufactures products including integrated circuits, graphics chips, motherboard chipsets, processors and others (Intel, 2018). Currently, the company is the second largest semiconductor chip maker in the world, and it offers its products all across the globe. Due to the rapid growth in the computer industry, the enterprise has gained substantial market share due to its processors and generated a competitive advantage in the industry. The global headquarters of the company is situated in Santa Clara, California, United States. Furthermore, the company has hired more than 102,700 employees in managing its operations worldwide (Intel, 2017). The company has not specified the exact number of employees working in Australia. The corporation offers its products with collaboration with leading technology companies such as Microsoft and Apple and these organisations use the processors made by Intel Corporation in their devices.

2.Legislative regulatory framework

Multinational companies operate in a number of countries, and they have to comply with the rules and guidelines implemented by the governments of such nations. These regulations are imposed on the operations of the corporations to ensure that they did not deal in any unfair trading practices which could adversely affect the country or its citizens. These rules are also focused on ensuring that large enterprise is not entering into agreements which other firms in order to eliminate their competition in the market by running small firms out of their business. These policies keep the operations of multinational enterprises in check which is important for maintaining economic stability in a country (OECD, 2018). Australia is a developed country, and many multinational enterprises establish their operations in the country in order to exploit the business opportunities in the country. In the case of Intel Corporation, Australia is a big market for its products and services. While operating in Australia, Intel Corporation has to comply with the legal framework established by the Australian government. Firstly, the company has to comply with the guidelines given under the Corporations Act 2001 (Cth) (Legislation, 2018). This act applies over whole Australia, and it provides various regulations regarding continuous disclosures, holding of meetings, shareholders rights and other rules which Intel Corporation has to comply with. 

 


The top-level management of Intel Corporation also has to comply with the director duties imposed by this act. The general duties are given under section 180, 181, 182 and 183 based on which the directors have to ensure that they focus on the benefit of the enterprise and its stakeholders rather than fulfilling their personal interest (Austlii, 2018). In case Intel Corporation did not comply with these regulations, then the court can impose monetary penalties on the company and also hold its directors liable for breaching their duties. Similarly, the enterprise has to comply with the guidelines issued by the Australian Stock Exchange (ASX) and the Australian Securities and Investments Commission while issuing its shares in the public and raising capital for its operations (Bath, 2012). Intel Corporation is a tech giant; therefore, it faces serious pressure from legal authorities to effectively comply with these regulations in order to avoid legal consequences. Furthermore, the company has to comply with the taxation laws imposed by the Australian government while managing its operations in Australia. The tax is paid by the enterprise on the income which it generates while operating in Australia. The guidelines given in the Income Tax Assessment Act 1997 are necessary to comply by Intel Corporation.

These regulations affect the overall revenue generation ability of Intel Corporation because huge taxes result in reducing its overall profitability. Currently, the enterprise has to pay taxes on the income which it generates at the rate of 30 percent (Trading Economics, 2018). Moreover, the Australian government also imposes Goods and Services Tax on the corporations while they manage their operations in the country. Based on the GST rate, Intel Corporation has to pay GST at 10 percent on the products and services which it offered to its customers in Australia. Intel Corporation is one of the largest enterprises in the world; however, while operating in Australia, the company has to ensure that it did not use its position to remove other corporations from the market. The government did not let large organisations establishing their monopoly in the market because it is bad for the economy of the nation and its citizens. The Fair Trading Act 1992 in Australia provides a number of guidelines which Intel Corporation has to comply to ensure that it ethically operates its business in Australia and avoid missing its position for gaining an advantage over other competitors (Worthington and Devlin, 2013). Similarly, the Competition and Consumer Act 2010 provides many policies which corporations have to comply with in order to ensure that they did not adversely affect the competition in the country. 

 


The act also issued various guidelines which companies have to follow regarding the safety of consumers and their protection from unfair trading practices. Section 18 of the act prohibits the corporations from making any statement regarding their products or services which are misleading or deceptive or likely to mislead or deceive (Hobert Legal, 2018). Intel Corporation has to ensure that while promoting its products in the country it did not breach the policies given under the Australian Consumer Law which could lead to serious legal consequences. Intel Corporation also has to comply with the Fair Work Act 2009 which provides various rights to employees while they are working for organisations. These rights are implemented by the government to ensure that multinational and local organisations did not exploit their employees by breaching the regulations of this act (Azizul Islam and Jain, 2013). Thus, Intel Corporation has to comply with these regulations as well while hiring employees in Australia. These policies also prohibit the enterprise from offering any products to its customers that could potentially harm them. The guidelines issued by the Australian government are focused on increasing competition in the country which supports the economic development in the country. The safety of customers is also the key priority for the Australia government based on which the multinational enterprises have to comply with these guidelines in order to avoid legal consequences

3.Treaties, Conventions, and Agreements

In order to support the economy of a country, the government sign trade treaties with other nations in order to attract foreign corporations in their market. The multinational companies bring foreign currency with them which result in supporting the economy of the country. It also increases the number of employment opportunities in the countries which improve the living standard of citizens. Similarly, the Australian government has signed various treaties and agreements with other nations which affect the products and services offered by Intel Corporation in the country. Since Intel Corporation is a multinational corporation, the treaties formed between the Australian government and other nations also benefit its operations. Intel Corporation is an American organisation, thus, the treaties and agreements formed between Australia and the United States create new opportunities for the enterprise to expand its operations in new markets (Thurbon, 2015). The main treaty which affects the products and services of Intel Corporation is AUSFTA or Australia United States Free Trade Agreement. This trade agreement was signed between the two nations in order to make the trade practices more preferential for both nations which support their economy. In this agreement, the governments of both nations have removed various legal restrictions which multinational enterprises have to face while expanding their operations in these countries (Faunce, 2015). They did not have to comply with complex legal guidelines after this agreement. 

 


The tariff and other charges which multinational enterprises have to pay otherwise are reduced due to this treaty as well which is beneficial for Intel Corporation. The enterprise is a global brand, and its products are used by leading corporations such as Microsoft and Apple. Due to this trade agreement, the enterprise is able lead the Australian market as well by establishing its operations in the country without dealing with strict laws (Moir, 2015). The fees which generally imposed by the government have reduced as well after this treaty which is beneficial for Intel Corporation. The company brings the income which it generates globally to its main headquarters. Thus, another treaty which is formed between the United States and Australia benefit the enterprise in this matter. The double tax avoidance treaty is signed between these two developed nations due to which companies such as Intel Corporation did not have to pay double tax on the income which it generates in Australia (IRS, 2018). It also encourages the enterprise to increase the number of products and services which it offers in the country which is beneficial for Australian citizens. Similarly, Intel Corporation operates in Japan as well, and the positive relationship between Australia and Japan assist the enterprise in offering a wider range of products and services to its customers.

JAEPA or Japan Australia Economic Partnership Agreement is the treaty which is signed by the governments of both nations in order to promote trade practices between the two countries. The objective of this treaty is to increase the business channels between two nations in order to increase their economic growth (Wilkins, 2015). Based on this treaty, corporations did not have to comply with strict legal regulations while exporting or importing their products. Multinational corporations are also able to use the resources which they generate from one nation to use in another in order to offer better services and products in a country. Intel Corporation also benefits from this treaty since it saves money in expenses such as tariff and other fees which the company did not have to pay. The company is also able to offer its latest products and services to the customers situated in both markets which resulted in increasing the profitability of the organisation. Another important market for Intel Corporation in New Zealand and the solid trade relationship between Australia and New Zealand assist the enterprise in expanding its operations in both nations. ASEAN Australia New Zealand FTA is a treaty which is formed between the two nations to strengthen their trade relationships (Fukunaga, 2015). 

 


The treaty enables organisations to avoid the complex legal formalities while exporting or importing their products in both nations. They can avoid such regulations which increase the efficiency of the process (Itakura, 2014). Moreover, the enterprises are able to avoid heavy duties and charges which they have to pay while dealing between these two nations due to this treaty. Thus, it benefits organisations such as Intel Corporation because they are able to offer their products and services at the lowest cost in both nations which is crucial for their success. The removal of regulatory restrictions makes it easier for multinational enterprises to expand their operations in these markets to exploit their opportunities. ANZCERTA or Australia New Zealand Closer Economic Relations Trade Agreement is another treaty formed between the two nations. The purpose of this treaty is to use the resources of both nations in order to support their economic growth. Both nations encourage corporations to expand their business in the two nations and increase the trading of products such as agricultural to freely trade between the nations (DFAT, 2018). Similarly, Intel Corporation is able to freely offer its products and services in both nations based on this treaty which supports the economy of both countries. Therefore, treaties formed between Australia and other nations create new business opportunities for Intel Corporation and affect the products and services of the company. 

 

References

Austlii. (2018) Corporations Act 2001. [Online] Available at: https://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/ [Accessed on 30 August 2018].

Azizul Islam, M. and Jain, A. (2013) Workplace human rights reporting: a study of Australian garment and retail companies. Australian accounting review, 23(2), pp.102-116.

Bath, V. (2012) Foreign investment, the national interest and national security-foreign direct investment in Australia and China. Sydney L. Rev., 34, p.5.

DFAT. (2018) Australia-New Zealand Closer Economic Relations Trade Agreement. [Online] Available at: https://dfat.gov.au/trade/agreements/in-force/anzcerta/Pages/australia-new-zealand-closer-economic-relations-trade-agreement.aspx [Accessed on 30 August 2018].

Faunce, T. (2015) How the Australia-US free trade agreement compromised the pharmaceutical benefits scheme. Australian Journal of International Affairs, 69(5), pp.473-478.

Fukunaga, Y. (2015) ASEAN's Leadership in the R egional C omprehensive E conomic P artnership. Asia & the Pacific Policy Studies, 2(1), pp.103-115.

Hobert Legal. (2018) Australian Consumer Law: Misleading or Deceptive Conduct under the ACL. [Online] Available at: https://www.hobartlegal.org.au/handbook/consumers-money-and-debts/australian-consumer-law/misleading-or-deceptive-conduct-under-the-acl/ [Accessed on 30 August 2018].

Intel. (2017) 2017 Annual Report. [PDF] Available at: https://s22.q4cdn.com/548661872/files/doc_downloads/Intel_Annual_Report_Final-3.20.pdf [Accessed on 30 August 2018].

Intel. (2018) Company overview. [Online] Available at: https://www.intel.com/content/www/us/en/company-overview/company-overview.html [Accessed on 30 August 2018].

IRS. (2018) United States Income tax treaties – A to Z. [Online] Available at: https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z [Accessed on 30 August 2018].

Itakura, K. (2014) Impact of liberalization and improved connectivity and facilitation in ASEAN. Journal of Asian Economics, 35, pp.2-11.

Legislation. (2018) Corporations Act 2001. [Online] Available at: https://www.legislation.gov.au/Details/C2018C00275 [Accessed on 30 August 2018].

Moir, H.V. (2015) The patent price of market access in the AUSFTA. Australian Journal of International Affairs, 69(5), pp.559-576.

OECD. (2018) Competition Policy in Australia. [PDF] Available at: https://www.oecd.org/gov/regulatory-policy/44529918.pdf [Accessed on 30 August 2018].

Thurbon, E. (2015) 10 years after the Australia-US free trade agreement: where to for Australia’s trade policy?. Australian Journal of International Affairs, 69(5), pp.463-467.

Trading Economics. (2018) Australia corporate tax rate. [Online] Available at: https://tradingeconomics.com/australia/corporate-tax-rate [Accessed on 30 August 2018].

Wilkins, T.S. (2015) From strategic partnership to strategic alliance? Australia-Japan security ties and the Asia-Pacific. asia policy, (20), pp.81-112.

Worthington, S. and Devlin, J. (2013) Fairness and financial services in Australia and the United Kingdom. International Journal of Bank Marketing, 31(4), pp.289-304.

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