Toyota - Global Environment Forum Research Paper

Toyota - Global Environment Forum - Research Paper Example This is supported by its accountable financial practices, transparent government and open policies. Australia has a legal system that consists of both common laws and statutes. Equality before the law is highly upheld as both domestic and foreigner business stand the same chances before the law. The countries property protection enjoys a higher ranking as it comes in second in Asia. Another advantage it has is in its time zone. It lies 10 hours ahead of GMT. It stands right in the middle of business closing hour in America and opening hour in Europe. This time zone advantage simply allows for a flow of business though out nonstop (Sydney Australia/ New South Wales Government 2012). The tax system in Australia is favourable as business income tax is at 30%. This comes with no capital flow restrictions, capital repatriation, transfers or royalties profit remittances, and other trade-related payments. Major business cities such as Sydney do offer business costs that are competitive. Thi s provision is lower than what is provided in other cities around the world such as Seoul, Tokyo, Hong Kong, London, Paris and Singapore (Sydney Australia/ New South Wales Government 2012). There also exists government subsidies for regional business, subsidies such as reduced power bill, reformed railway freights, reduced port charges, and a streamlined land use planning process and approvals. The major cities also have transport and communication systems that are world class. These are supplemented by support services for business and superior commercial property at affordable prices as compared to other regional cities (Sydney Australia/ New South Wales Government 2012). Australia has a state-of-the-art telecommunication system that consists of fibre optic, microwave, wireless and satellite systems, with fibre optic being the dominant technology. Other favourable factors include multilingual and well educated