International Association of Tax Judges

By-Laws

NAME

Article 1 – The subscribers to the present do hereby establish an association named: “International Association of Tax Judges”.

 

PURPOSE

Article 2 – The purpose of the International Association of Tax Judges is to promote exchanges of views and experience on matters submitted to Tax Judges, the organization and functioning of such Tax Judges and the Rules of Law applicable to a variety of jurisdictions.

Tax Judges shall comprise of Courts, Tribunals or Administrative Bodies, Judges or retired Judges which or who, irrespective of their official title (for instance Court, Tribunal, Justice, Judge, Adjudicator, Advocate-Generals, Tribunal Chair or Member, or the like) are or were nevertheless empowered to adjudicate, in disputes involving direct or indirect tax assessments.

 

SEAT

Article 3 – The seat of the Association shall be at Amsterdam, The Netherlands. The seat may be transferred by a two-third majority decision of the Association of Tax Judges membership.

 

MEANS OF ACTION

Article 4 – In order to achieve its purpose, the Association may initiate, promote or undertake studies on the matters defined in Article 2 hereof; it may circulate or contribute to the circulation of information on the organization, functioning and jurisprudence of Tax Judges to members of the Association and, where applicable, to all interested parties; for purposes of mutual information, it shall promote contacts between the members Judges. The Association may publish all documents relating to its activities. It shall be empowered to establish a Documentation Center for its members.

In principle, every second year, or at intervals to be established by administrative organs, it shall organize a Congress to consider matters falling within its terms of reference.

Article 5 – The Association shall comprise the Tax Judges mentioned in Article 2.

There shall be no limit to members from any particular state, jurisdiction, court or tribunal.

In the general assembly, each Tax Judge present shall have one vote unless the Association Board sets a limit to the number of votes the collective Judges of any particular state, jurisdiction, court or tribunal may have.

At congresses or general assemblies, there shall be no limit to delegation size by state, jurisdiction, court or tribunal.

Article 6 – The Association may admit to its congresses observers that are interested in its work.

Article 7 – The general assembly shall be composed of Judges mentioned in Article 5; it shall meet on the occasion of the congresses referred to in Article 4. It shall elect from amongst its members the individual Judges which shall constitute its Board of Directors. Each Board member may be appointed to a term of three years or less and may be re-appointed on no more than two additional consecutive occasions. The individual Judges on the Board remain until the expiration of their term except if he/she resigns or the Secretary General is informed he/she is no longer an active Jurist.

The general assembly nominates a Secretary General, a Treasurer and an Auditor. In case of vacancy of any of these posts, the Board referred to in Article 11 shall provide their replacement until the following congress.

 

BOARD

Article 8 – The Association shall be administered by the board. The Board shall vote the annual budget. It may take any and all measures required for the functioning of the Association in the interval between general assemblies.

The Board may delegate the day to day management of the Association as it sees fit from time to time.

Article 9 – The Board shall comprise a maximum of 13 members, including:

  1. the president;
  2. at least two vice-presidents
  3. secretary/general
  4. treasurer
  5. eight member at large

Article 10 – The President is responsible for the day management of the Association under the authority of the Board. The President is in charge of the Board.

Article 11 – The Board may delegate certain matters to a management committee composed of the President, two Vice-Presidents, the Secretary General and the Treasurer.

Article 12 – Membership into the Association shall be subject to the approval of the Board, which shall submit to the general assembly applications for membership which it has felt unable to approve.

Article 13 – The Board shall meet at least once a year, which meetings may be in person, or by conference call or video conference, and whenever convened by its President or upon the request of one-third of its members.

In case of a tie in the votes, the president’s vote shall prevail.
The quorum of the Board shall be at least one-third of its members.
Minutes of all meetings shall be sent to all members of the Association.

Article 14 – The members of the Board shall receive no remuneration for the performance of their duties.

The expenses incurred by members of the Board who attend meetings shall not be refunded by the Association, with the exception, if necessary, of the personal insurance costs of participants.

Remunerated officials of the Association may be called upon by the President to attend meetings of the general assembly, the Board and the Management Committee, in a consultative capacity.

 

WORKING LANGUAGES

Article 15 – The working language of the Association shall be English. All documents produced at the Association’s expense shall be prepared in English. Other languages or translations may be utilized at the direction of the Association Board.

 

RESOURCES OF THE ASSOCIATION

Article 16 – The resources of the Association shall comprise:

  1. membership of contributions,
  2. such gifts and grants as may be made by members or by any public or private person or institution, after having been accepted by the Board.

Article 17 – The amounts of contributions shall be determined by each general assembly.

Article 18 – All expenses incurred in the preparation, organization and functioning of the congresses of the Association, including the translation, printing and circulation of the reports of its proceedings, shall be borne by the Association.

 

REVISION OF THE STATUTES – DISSOLUTION OF THE ASSOCIATION

Article 19 – The revision of the by-laws and the dissolution of the Association require a two-thirds majority vote of the general assembly; the general assembly shall decide on the transfer of the Association’s property and funds to a similar institution.

Article 20 – The Association shall be governed by the Laws of the Netherlands.

Subscribed to and enacted by its founding members as of the 1st day of January AD, 2010.

Tax Judges
JudgeLocation

Dr. Juan Carlos Vicchi

Argentine Republic

Chief Justice Gerald J. Rip

Canada

Ass. Chief Justice Eugene P. Rossiter

Canada

Judge Wim Wignen

Netherlands

Martin Philippe

France

Judge Peter J. Panuthos

United States

Judge John Avery Jones

U.K.

Justice Olof Olsson

Finland

 

Director’s Report

Cathay Arts Company Limited

Year ended 31 December 2021

Directors’ report

The Directors present their annual report and the audited financial statements for the year ended 31 December 2021.

Principal activities

Cathay Arts Company Limited (the Company) is a company incorporated and domiciled in Hong Kong and has its registered office and principal place of business at 6/F Kimberley Plaza, 45-47 Kimberley Road, Tsim Sha Tsui, Kowloon, Hong Kong SAR.  The principal activities of the Company are the manufacture and sale of jewelry and home decor.  The activities of its subsidiary are set out in note 16 to the financial statements.

Results and appropriations

The [profit][loss] of the Company and its subsidiary (the Group) for the year ended 31 December 2021 and the state of the Company’s and the Group’s affairs as at that date are set out in the Company’s financial statements on pages 3 to 30.

An interim dividend of HK$5 per ordinary share (2021: HK$3.3 per ordinary share) was paid during the year ended 31 December 2021. The directors recommend the payment of a final dividend of HK$1 per ordinary share (2021: nil) in respect of the year ended 31 December 2021.

Fixed assets

Details of the movements during the year in the property, plant and equipment and the investment property of the Group and of the Company are set out in notes 18 and 19 to the financial statements respectively.

Share capital and reserves

Details of share capital of the Company are set out in note 28 to the Company’s financial statements. There were no movements during the year.
There were no movements in reserves except for changes to retained earnings which arose from profit or loss and payment of dividends.

Directors

The directors of the Company during the year and up to the date of this report were:

  • Kwok Long Sein

There being no provision in the Company’s articles of association in connection with the retirement of directors by rotation, all existing directors continue in office for the following year.

The Company did not enter into any contract, other than the contracts of service with the directors or any person engaged in the full-time employment of the Company, whereby any individual, firm or body corporate undertakes the management and administration of the whole, or any substantial part of any business of the Company.

Arrangements to purchase shares or debentures

At no time during the year was the Company, its holding company, or its subsidiary a party to any arrangements to enable the directors of the Company to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate.

Directors’ interests in contracts of significance

No contract of significance to which the Company, its holding company, or its subsidiary was a party and in which a director of the Company had a material interest, whether directly or indirectly, subsisted at the end of the year or at any time during the year.

Charitable donations

During the year, the Group and the Company made charitable donations amounting to HK$5,000 (2021: HK$5,000).  Events after the reporting date.


Details of significant events occurring after the reporting date are set out in note 31 to the consolidated financial statements.

Auditor

A resolution will be submitted to the annual general meeting to re-appoint CPA firm as auditor of the Company.
On behalf of the Board

Lubin Kwok
Chairman
7th November, 2021

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