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  1. News - World - FRANCE

    France's top court annuls 75pc income tax

    Posted Dec 30th 2012, 12:00am by AFP

    ... Agence France-Presse in Paris Top court annuls 75pc tax rate, in blow to Hollande France's highest court yesterday struck down a 75 per cent upper income tax rate, dealing a major blow to Socialist President Francois Hollande, who had made it his centrepiece taxation measure. The government vowed to push ahead with the tax rate, which would apply to incomes over €1 ...

  2. News - China - DEVELOPMENT

    Nansha development zone in Guangzhou eyes Hong Kong tax rate

    Posted Dec 22nd 2012, 12:00am by Tony Cheung

    ... Tony Cheung tony.cheung@scmp.com Key zone uses city as model after already adopting its laws on arbitration Nansha eyes same rate of income tax as HK First it adopted Hong Kong law in arbitration cases, now the Nansha development zone in Guangzhou wants to set its income tax at the same lower level. Raymond Sun Lei, deputy chief of Nansha's district government, was speaking ...

  3. Comment

    Chinese people want equal opportunities, not equal income

    Posted Oct 18th 2012, 12:00am by Hu Shuli

    ... be effective? First, their focus should be on what economists call primary distribution- that is, the distribution of income through the market- rather than on secondary distribution, through taxes ... study has found that reforms targeting secondary distribution, such as in income taxes and agricultural taxes, have done little to narrow the income gap. That's because every such effort ...

  4. Tax take hits record HK$238b, up 14pc

    Posted May 03rd 2012, 12:00am

    ... group of high-income individuals,' said Chu Yam-yuen, commissioner of the Inland Revenue Department (IRD). Owing to the city's narrow tax base, the highest-earning 200,000 individuals paid 80 per cent of the income tax. And just 10 per cent of roughly 91,000 firms had to pay profits tax. However, stamp duty revenue fell 13 per cent to HK$44.4 billion due to fewer ...

  5. Business - Companies - TAXATION

    Google's US$2bn tax bill dodge sparks outrage

    Posted Dec 11th 2012, 12:00am by Bloomberg

    ... billion in worldwide income taxes last year by shifting US$9.8 billion in revenues into a Bermuda shell company, filings show. By legally funneling profits from overseas subsidiaries into Bermuda, which doesn't have a corporate income tax, Google cut its overall tax rate almost in half. The amount moved to Bermuda is equivalent to about 80 per cent of Google's total pretax ...

  6. Comment - Letters

    Stamp duty hits middle-income group

    Posted Nov 02nd 2012, 12:00am by LETTERS

    ... Kong, learned the language, and regularly participate in community activities. We pay our taxes, and we are- or were- proud to call ourselves Hong Kong people, even if our nationalities ... a punitive 15 per cent stamp duty on non-permanent residents, ostensibly to cool the market and curb speculation. As a frustrated first-time buyer on a middle income (about HK$30,000 a month), ...

  7. More cash for low-income housing

    Posted Feb 08th 2012, 12:00am

    ... Ed Zhang in Beijing ed.zhang@scmp.com The Ministry of Finance has pledged more funding this year to build homes for low-income households. The ministry has recommended a variety ... and corruption in the distribution of subsidised apartments. 'Fair distribution is key to the success of low-income housing and is the lifeline of its sustainability. It is also an important test ...

  8. Comment - Insight & Opinion

    How China can avoid the middle income trap

    Posted Nov 12th 2012, 12:00am by JUZHONG ZHUANG

    ... by creating more well-paid urban jobs to absorb rural migrants, continued investment to improve regional connectivity, more spending on public services and a more equitable income tax system. Last ... to keep the economy growing. It also raises a flag as to whether China is settling into a protracted period of subdued growth, better known in economic circles as the "middle income ...

  9. Business - Money - SOCIETY SINGAPORE

    Singapore may raise taxes for ageing nation

    Posted Sep 03rd 2012, 12:00am by Bloomberg

    ... that the government drew S$8 billion (HK$49.5 billion) from returns generated by its reserves in the budget for the past financial year, exceeding the amount from personal income taxes. "It's helped ... Shamim Adam Lee links baby-making to prosperity Singapore would need to raise taxes in the next two decades as the government boosts social spending to support an ageing population, Prime ...

  10. Business - Money

    Top 10 tips for tax returns

    Posted Dec 24th 2012, 12:00am by TIFFANY AP

    ... that employer-provided housing is not taxed on its real value but typically as 10 per cent of your income- often much less than you actually pay in rent. Inland Revenue will then tax the housing benefit ... benefit of 10 per cent of that income (HK$80,000 X 10 per cent, or HK$8,000). The person is taxed on HK$88,000 of their income, instead of HK$100,000. It is beyond this article to explain why ...




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