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  • August 21, 2014
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  1. Business - Economy

    Wealthy win lion’s share of major tax breaks

    Posted May 30th 2013, 11:06am by AP

    ... Associated Press in Washington More than half the benefits of 10 major tax breaks go to the one-fifth of US households at the top of the income scale, according to the Congressional Budget ... More than half the benefits of 10 major tax breaks go to the one-fifth of US households at the top of the income scale, according to the Congressional Budget Office. The top 1 per cent ...

  2. News - World - ITALY

    Italian court fines Dolce & Gabbana for hiding millions in income

    Posted Apr 02nd 2013, 12:00am by AFP

    ... billion) plus interest for failing to declare millions of euros in revenue to tax authorities, local media reported. The international fashion giant, whose celebrity clients include Beyonce ... thereby avoiding paying Italian taxes of around €420 million. Prosecutors have argued that setting up the Luxembourg company Gado- an acronym of the surnames of the two designers- while ...

  3. Comment - Insight & Opinion

    Governments take wrong approach in raising income taxes

    Posted Jan 10th 2013, 12:00am

    ... SCMP Editorial Punishing the job creators French President Francois Hollande's threatened income tax of 75 per cent for the wealthiest citizens has driven actor Gerard Depardieu ... of earnings to the taxman. America's top earners will be slugged 39.6 per cent of their income this year, 4.6 percentage points more than last, under the fiscal cliff deal agreed to by the US ...

  4. News - Hong Kong

    Hong Kong and South Korea sign tentative deal to fight tax cheats

    Posted Sep 17th 2013, 03:11pm by Audrey Yoo

    ... transactions.  In addition, Korea’s National Tax Service will impose a tax rate of 10 per cent on income from investments made by Hongkongers in Korea, the ministry added. To prevent double taxation, Hong Kong’s Inland Revenue Department will then deduct the amount of income tax the investors paid in South Korea. The deal, signed provisionally in Hong Kong last Friday, comes after three ...

  5. News - China

    Rural land restrictions in China hurt efforts to raise farmers' incomes

    Posted Nov 11th 2013, 11:15pm by MANDY ZUO

    ... Mandy Zuo mandy.zuo@scmp.com The rules, experts say, have hobbled efforts to raise incomes of farmers and develop the Chinese countryside over the last decade Rural land restrictions ... say, have hobbled efforts to raise the incomes of farmers and develop the Chinese countryside over the last decade as millions left for cities in search of better lives. But hopes are high ...

  6. News - China - ECONOMY

    Wage increases part of approved income distribution plan

    Posted Feb 06th 2013, 12:00am by Victoria Ruan

    ... Victoria Ruan victoria.ruan@scmp.com Wage rise part ofreform guidelines The State Council on Tuesday approved long-delayed guidelines to reform the mainland's income distribution ... urban and rural per capita individual income by 2020 from 2010, and make more rural migrant workers city dwellers, according to the guidelines. "Reasonable wage rises" have been ...

  7. Business - Banking & Finance - RESULTS

    Emerging markets power HSBC's income

    Posted Mar 05th 2013, 12:00am by KANIS LI

    ... Iain Mackay said the decline was driven by adverse fair-value movements on its own debt, a higher tax charge, and a much stronger equity base. Its cost-income ratio worsened to 62.8 per cent ... of the income of global banking group HSBC, chief executive Stuart Gulliver said yesterday. Gulliver said half of the group's loan growth came from Hong Kong, mainland China, and the rest of Asia, ...

  8. News - China Insider - LAW

    Cabinet adviser denies media reports amid heated debate over China's inheritance tax law

    Posted Oct 02nd 2013, 11:49am by Chris Luo

    ... on inheritance and personal income, are paid directly to the government by the person on whom they are imposed. They now account for 25 per cent of all taxes in China. Indirect taxes, including value ... Chris Luo chris.luo@scmp.com A cabinet adviser has denied claims he told media that a draft inheritance tax law would be discussed at an upcoming annual Communist Party convention amid ...

  9. Business - Comment - MONITOR

    For a fairer tax system, how about scrapping the profit tax?

    Posted Aug 27th 2013, 12:00am by Tom Holland

    ... for future investment and eat into the value of the company. Alternatively, they could try to boost pre-tax profits in order to keep their net income steady. That would entail either boosting ... tax. The solution, believe tax reformers like our property company chairman, is not to tax companies on the profits they make, but rather on the income they distribute to their shareholders. ...

  10. News - China - ECONOMY

    China's income inequality slowly improving, survey finds

    Posted Jul 19th 2013, 12:00am by Zhang Hong

    ... Zhang Hong hong.zhang@scmp.com New survey claims key measure of income gap has slightly improved, but earlier studies suggest the problem could be getting worse Inequality is slowly declining — perhaps Wealth inequality in China is still high compared with most developed countries but the gap is slowly narrowing, a new survey has found. China's Gini coefficient of income ...




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