Pandora Community Factors

To assess the external environment in which Pandora is located, is a PEST analysis is essential in order to assess what and how much influence various community factors on Pandora.

PEST analysis is assumed to be sufficient for the analysis of the Pandora community factors, however, are regulatory factors worth the name of Pandora, therefore affected this under political factors. And environmental factors called card in conjunction with the modest technological factors.

The analysis is based partly in Denmark, but included also considerations of the main markets Australia, Germany, England and the United States, since almost 75% of Pandora's revenue stems these countries. (Annual Report 2010).

4.1.1.1. Political and regulatory factors

Tax policy in the European Union (EU) consists of two parts;

• Direct taxation, meaning Pandora is subject to Danish tax legislation where the subsidiaries are subject to the tax laws of the country they operate in. (Europa.eu). The tax rate is different in the subsidiaries' countries are not considered essential, as Denmark has a relatively average tax rate compared to the EU countries. And that tax also is considered to have followed the same trends over the last fifteen years. (Taxation).

• Indirect taxation; which deals with goods free movement and freedom to provide services that prevent competition between EU members, which among other things means that they no customs duties between EU member states, but is for example between the US and EU countries as well as Asia and EU countries. (Europa.eu).

Changes in non-EU countries' customs duties will mainly affect Pandora Group negative, for example if the United States or other countries outside the EU raises their import duties, thus this is not supposed fundamental change in the near future.

4.1.1.1。政治和监管因素

在欧盟（EU）税政策由两部分组成;

•直接税，这意味着潘多拉受丹麦税法那里的子公司都受到他们经营国家的税收法律。（Europa.eu）。税率的子公司国家的不同不被认为至关重要，因为丹麦相比，欧盟国家比较平均税率。而这也税被认为是遵循在过去的15年中同样的趋势。 （税收）。

•间接征税;它与货物自由流动和自由交易提供防止欧盟成员国之间的竞争，除其他外意味着它们欧盟成员国之间没有关税，但对于例如美国和欧盟国家之间以及亚洲和欧盟国家服务。 （Europa.eu）。

在非欧盟国家的关税变化将主要影响潘多拉组否定，例如，如果美国或欧盟以外的其他国家提高了他们的进口关税，因此这是不应该在不远的将来根本性的变化。

Tax relief in Thailand:

Pandora dragons, the next eight years, use of tax for the subsidiary Pandora Production Co. Ltd., located in Thailand.

Thailand Board of Investment has expanded Pandora current tax and dividend payment exemption, as well as import duties on certain machinery and raw materials. The exemption shall, so far, for the fourth quarter of 2019. (Annual Report 2010).

With consideration for all Pandora's production facilities are located in Thailand, and that the reported incidence of political unrest in the country, is fertile ground for mentioning that there may be less production periods affected. This is not likely to have had a significant influence on the import of raw materials, production or distribution, the last twenty years. (Annual Report 2010).

Dispute over glass beads for 385 million. kroner:

Lise Aagaard Copenhagen A / S has received royalty payments totaling 32 million since 2005, for design of glass beads for Pandora bracelets. The agreement Pandora has concluded with Lise Aagaard Copenhagen runs until 2030, thereby competing company has views to the tune of 385 million. But it is in order that Aagaards royalty payment amounts on revenues from all Pandora glass beads. (Business, 1). On 29 April 2010 the Maritime and Commercial Court Pandora unsuccessful in the dispute over royalty payments to Lise Aagaard Copenhagen A / S. Thus, it was established that Aagaard only achieves royalty payment for net sales of glass beads, designed by Lise Aagaard Copenhagen A / S, not for glass beads designed by Pandora other designers. But Lise Aagaard Copenhagen A / S has appealed the Maritime and Commercial Court decision to the Supreme Court. (KromannReumert).

Pandora manifests that the disputes they may be part of, not expected to affect the company's future earnings. (Annual Report 2010, note 24).

Furthermore called a Pandora's patent for Charms bracelet that has a so-called "stop-lock", running until 2023 in the United States, and until 2024 in other countries. The patent was issued by the European Patent Office, which apply in the EU, US, Australia, New Zealand, South Africa, China and Norway. (Annual Report 2010).

税收减免泰国：

潘多拉龙，未来八年，利用税收的子公司潘多拉制品有限公司有限公司，位于泰国。

泰国投资促进委员会已经扩大潘多拉当期所得税和分红免税，以及进口关税对某些机器和原料。本项豁免，到目前为止，2019年年度报告（2010年）第四季度。

考虑为所有潘多拉的生产设施位于泰国，并且该报道在该国政治动乱的发生，是一提的还有可能影响产量较少时段的沃土。这是不太可能有对原材料，生产或销售，在过去二十年的进口显著的影响。 （2010年年报）。

争玻璃珠为3.85亿。克朗：

莉莎AAGAARD​​哥本哈根A / S已收到版权费共计3200万自2005年以来，为玻璃珠潘多拉手镯设计。潘多拉已与莉莎AAGAARD​​哥本哈根达成的协议将持续到2030年，因此竞争的公司有意见的3.85亿之多。但是，为了使来自所有潘多拉玻璃珠收入Aagaards费支付金额。 （业务，1）。 2010年海事及商业法院潘多拉之争费支付给莉莎AAGAARD​​哥本哈根的A / S。不成功的4月29日因此，它建立AAGAARD​​只达到净销售额的玻璃珠，由莉莎AAGAARD​​哥本哈根A / S设计的，而不是由其他潘多拉设计师设计的玻璃珠的特许使用费。但是莉莎AAGAARD​​哥本哈根A / S已提出上诉海事和商业法院判决向最高法院上诉。 （KromannReumert）。

潘多拉体现了纠纷，他们可能是一部分，预计不会影响到公司未来的盈利。 （2010年年度报告，注24）。

另外一个叫潘多拉的魅力手镯，有一个所谓的“一站式锁”的专利，在美国运行，直到2023年，直到2024在其他国家。该专利是由欧洲专利局，适用于欧盟，美国，澳大利亚，新西兰，南非，中国和挪威发行。 （2010年年报）。

4.1.1.2. economic factors

In and with that in recent years has been a global economic crisis, where consumers are reluctant to consume, is now back expectations for progress.

Nordea's Global Chief Economist, predicts a more optimistic picture for the global economy than in 2010, derived from the fact that the US economy is experiencing improvements in terms of the new tax package and that the Asian economies are experiencing increasing economic progress, especially China and India. The most problematic prosperity lies in Europe which still held down by the crisis. However, the German economy on the rise, helping the rest of Europe. Europe is divided, in terms of high growth in the north, but still crisis in southern Europe. (Nordea, 1).