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  • October 22, 2014
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  1. News - World - UNITED STATES

    Rising US income inequality hits state tax revenue and threatens budgets

    Posted Sep 15th 2014, 10:17pm by AP

    ... Associated Press in Washington Richest 1 per cent are thriving, but they often shield much of their income from taxes Rising US wealth gap hits state revenue Income inequality is taking ... the wealthy often manage to shield much of their income from taxes. And they tend to spend proportionally less of it than others do, thereby limiting sales tax revenue. As the growth of tax revenue ...

    http://www.scmp.com/news/world/article/1593297/rising-us-income-inequality-hits-state-tax-revenue-and-threatens-budgets
  2. News - World - FINANCE

    Global tax reform plan to crack down on tax avoidance is 'biggest in a century', OECD says

    Posted Sep 20th 2014, 02:45pm by AFP

    ... for the automatic exchange of information between countries on tax issues today. "This will allow us to identify offshore income of multinationals and high wealth individuals, so there will be nowhere ... and Profit Shifting Project has seven goals that would help to ensure companies pay tax in the countries where they generate income. They include proposals on closing loopholes that allow ...

    http://www.scmp.com/news/world/article/1596776/g20-set-back-oecd-plan-tackle-global-tax-avoidance
  3. News - World - IRELAND

    Ireland set for revamp of corporate tax of global giants to eliminate loophole

    Posted Oct 15th 2014, 05:12am by Reuters

    ... edge The Irish government is making sweeping changes to corporate tax structure, phasing out a loophole that has allowed multinationals to save billions of dollars in tax on worldwide income ... Noonan could at the same time make improvements to the intellectual property tax regime, and also has room to cut income tax following the economy's surprisingly strong rebound from a debt ...

    http://www.scmp.com/news/world/article/1616305/ireland-set-revamp-corporate-tax-global-giants-eliminate-loophole
  4. News - World - IRELAND

    Bono blasted by union over tax comments

    Posted Oct 14th 2014, 12:06am by GDN

    ... The Guardian Bono blasted over tax comments One of Ireland's largest unions has launched a blistering attack on U2 frontman Bono for defending the 12.5 per cent tax rate ... and to be clever, and tax competitiveness has brought our country the only prosperity we've known. "That's how we got these [tech] companies here. Little countries, we don't have natural ...

    http://www.scmp.com/news/world/article/1615808/bono-blasted-union-over-tax-comments
  5. Business - Economy - MACROSCOPE

    Flaws in Abenomics thrown into sharp relief by sales tax

    Posted Oct 10th 2014, 06:10am by NICHOLAS SPIRO

    ... of growth. While the government unveiled a package of structural reforms in June, which included a pledge to trim Japan's corporate income tax rate from 35 per cent to 30 per cent, it offered ... in Abenomics thrown into sharp relief by sales tax For most of his first year in office, Japanese Prime Minister Shinzo Abe's approval ratings stood above 70 per cent. Having led his Liberal ...

    http://www.scmp.com/business/economy/article/1613163/flaws-abenomics-thrown-sharp-relief-sales-tax
  6. News - World - BRITAIN

    British PM David Cameron pledges tax cuts for 30 million

    Posted Oct 02nd 2014, 03:42am by AFP, Reuters

    ... the system so that people working 30 hours a week on the national minimum wage of £6.50 (HK$82) an hour would pay no income tax. For those on higher incomes, he unveiled plans to raise the threshold ... Agencies in Birmingham PM pledges to put more cash in people's pockets if Tories are re-elected Cameron vows tax cuts for 30 million Britons Britain's Prime Minister David ...

    http://www.scmp.com/news/world/article/1607284/british-pm-david-cameron-pledges-tax-cuts-30-million
  7. News - Hong Kong - COURTS

    Rafael Hui admits in corruption trial that he evaded taxes on 'fees'

    Posted Sep 20th 2014, 04:37am by Stuart Lau

    ... admitted in court yesterday that he had evaded taxes on income totalling HK$21.8 million, earned from Thomas Kwok Ping-kwong of Sun Hung Kai Properties, in the years before and during his term ... you decided to conceal your real income from the government?" Hui answered: "Correct." In the next set of tax returns, Hui, by then chief secretary, omitted another sum from ...

    http://www.scmp.com/news/hong-kong/article/1596408/rafael-hui-admits-corruption-trial-he-evaded-taxes-bribes
  8. Comment - Insight & Opinion

    Hong Kong should reform its tax structure to redistribute wealth

    Posted Aug 27th 2014, 11:53am by DAVID LUI

    ... policies to raise more revenue and fund increases in public spending. Asia's tax revenue base remains small by global standards. One option is to increase personal income tax. Another is to introduce a consumption or corrective tax. Taxes on property, capital gains and inheritance are naturally progressive, claiming a higher portion of income from the rich than the poor. ...

    http://www.scmp.com/comment/article/1581091/hong-kong-should-reform-its-tax-structure-redistribute-wealth
  9. News - China - ECONOMY

    Cut taxes to boost the economy, urges China's second richest man Zong Qinghou

    Posted Aug 25th 2014, 03:35pm by Kathy Gao

    ... that the monthly income tax threshold should be raised to 10,000 yuan (HK$12,600) to increase people's income. The existing income tax threshold is 3,500 yuan. Zong, 68, chairman of leading beverage ... "didn't spend" tax income on improving people's livelihood, and, instead, too much of it was "wasted". He said that 51 per cent of the national revenue was spent on running ...

    http://www.scmp.com/news/china/article/1580537/chinas-second-richest-man-zong-qinghou-tells-government-tax-cuts-will
  10. Comment - Letters

    Change way property is taxed to ease supply and prevent hoarding

    Posted Sep 18th 2014, 05:22am by LETTERS

    ... countries. A higher rental income tax should be imposed, as well as a yearly capital gains tax on investment property. Tax exemption should only apply to a person's primary residence. Landlords ... Change way property is taxed to ease supply and prevent hoarding Homes should be built and owned solely for people to live in and not as a means of making money, at least until ...

    http://www.scmp.com/comment/letters/article/1594903/change-way-property-taxed-ease-supply-and-prevent-hoarding

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