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  1. Income gap to widen, think-tank predicts

    Posted Jan 04th 2008, 12:00am by Raymond Li

    ... Raymond Li Growth for farmers minimal, report says The income gap on the mainland will continue to widen despite efforts over the past two years to boost farmers' incomes, according to a report released yesterday by the Chinese Academy of Social Sciences, a central government think-tank. The academy's 2008 Blue Book on Social Development said the average disposable income ...

  2. Rising aluminium prices help Rusal profit

    Posted Apr 01st 2011, 12:00am

    ... Naomi Rovnick Profits at Rusal, the world's biggest aluminium producer, more than tripled last year on the back of rising aluminium prices and global economic recovery. Net income surged to US$2.9 billion from US$841 million in 2009. Rusal paid just US$144 million in income tax, less than 5 per cent of pre-tax earnings. In its annual results statement, Rusal admitted ...

  3. Shenzhen moves to beat tax cheats

    Posted Jun 15th 2011, 12:00am

    ... They then submit a fake document that states a much lower transaction value to the land bureau. The resale of second-hand properties is subject to personal income tax, which is levied at a rate of 20 per ... of the assessed value for mass housing and 1.5 per cent for upmarket flats. 'But final details have not yet been announced. It is not yet clear if sellers may have an option to pay income tax ...

  4. Local insurers seek exemption from US tax law

    Posted Jul 09th 2012, 12:00am

    ... on their US clients. Non-US financial institutions which fail to co-operate will face a 30 per cent withholding tax on most US-sourced income. 'The proposed FATCA will seriously add to the costs ... Enoch Yiu enoch.yiu@scmp.com Hong Kong insurers are the latest to oppose a proposed US tax law, and are seeking waivers to protect nine million local policies that could be affected by it. ...

  5. Small change

    Posted May 05th 2011, 12:00am

    ... inequality has become a top political issue. The first story was that the Chinese State Council has proposed revising the income tax rates to reduce the tax burden on the working class while raising ... income tax rates is long overdue but may not be the most effective treatment for China's rising income inequality. And for the cynical observers of local governance in China, keeping ...

  6. Yes to bonds, no to a sales tax

    Posted Mar 16th 2004, 12:00am by Yeung Sum

    ... weakened government incentives to curb wasteful spending and enhance efficiency. A third objection is the regressive nature of the tax. Unlike income tax, GST is levied against private consumption ... income of low-income earners. It would make the tax system less equitable. Had the government been sincere about giving people a respite, it would have postponed next month's increase ...

  7. Middle class carries tax load while lack of competition favours rich

    Posted Dec 13th 2006, 12:00am by Jake Van Der Kamp

    ... than the incomes of the poor. But I do not agree that low corporate tax rates are to blame. To start, let's get the image of the cigar-chomping tycoon out of our minds. Although we may ... the burden is to emphasise efficient spending of public money before efficient raising of it. The real reason that we have growing income polarity in Hong Kong has not to do with relative tax rates ...

  8. The taxing issue

    Posted Jun 16th 2005, 12:00am by Tony Latter

    ... Tony Latter Does Hong Kong have a structural problem in its public finances that necessitates the introduction of a goods and services tax? The government has not yet provided a clear answer. Its budget projections show the fiscal position soon settling back into a near balance, or even a surplus. So, why a new tax? The scary argument is that in other developed economies, ...

  9. Henry's budget numbers beg raft of questions that tax credibility

    Posted Feb 23rd 2006, 12:00am by Jake Van Der Kamp

    ... paid in your private-sector days when your income came from the family business of renting garment quotas? Did the company pay you a salary and did you then pay tax on it or did you just take ... the government's total salary tax income at present. Think of that. If Henry is confident of his numbers, he could conceivably abolish salary tax in five years' time and with the kick this would give ...

  10. Promise of more spending and tax breaks to promote innovation

    Posted Mar 11th 2006, 12:00am by Shi Jiangtao

    ... technological research across the country. 'Enterprises will be allowed an income-tax cut equal to 150 per cent of their actual spending on R&D in the same year,' he said. He said his ... Shi Jiangtao in Beijing The authorities have pledged to roll out more spending, a raft of tax incentives and lucrative government contracts in the next five years to help spark greater ...




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