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  1. 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. ...

  2. PICC secures earnings boost on reduction in business taxes

    Posted Oct 07th 2003, 12:00am by Christine Chan

    ... Tax concessions will boost PICC Property & Casualty's net profit this year by about 700 million yuan (HK$653.81 million), according to a research report its joint global co-ordinator has issued. The income boost, which would account for about half of projected net profit this year, came after Beijing cut the business tax levied on all mainland financial institutions ...

  3. Tax breaks could spice up fund's appeal

    Posted Jul 29th 2008, 12:00am by Andrea Li

    ... to the scheme include offering tax incentives for voluntary contributions which are subject to salaries tax and raising the 5 per cent mandatory requirement contribution. 'For Australia's ... to withdraw their savings in one lump sum payment. Industry sources are advocating a phased draw-down approach to ensure retirees have a constant flow of income. For example, Hong Kong Investment ...

  4. Far-reaching tentacles of the US taxman

    Posted May 22nd 2012, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com While many people think the proposed US Foreign Account Tax Compliance Act will only hit American millionaires, it seems even Hong Kong low income earners ... Not a good idea, as the penalties for failing to meet the reporting obligations could result in a 30 per cent withholding tax on certain types of US source income and payments from other financial ...

  5. Magazines - Money - INVESTMENT: ADVICE

    Suze Orman talks money

    Posted Sep 17th 2012, 12:00am by Anna Healy Fenton

    ... stupid- to let capital gains tax expire, to let dividend tax expire …" she's getting steamed up at the prospect of dividend tax, now 15 per cent, rising to ordinary income tax levels ... being taxed in a favourable tax bracket." Taxing dividend-paying stocks at ordinary income tax rate is a big mistake, she believes. It makes a big difference getting 4 per cent taxed at 15 ...

  6. Opposition to health schemes

    Posted Apr 07th 2008, 12:00am by Staff Reporter

    ... Ng Kang-chung Middle-income earners want government subsidies for them to take out medical insurance in view of healthy government finances, a survey on the administration's medical ... Middle Class Force, polled 723 people with family incomes of between HK$25,000 and HK$120,000 a month. They were asked about the government consultation document on medical financing released ...

  7. PICC results delay spooks investors

    Posted Apr 16th 2005, 12:00am by Staff Reporter

    ... that allowed the insurer to deduct more salary expenses from taxable income and lower its corporate income tax liabilities. 'PICC needs to sort out with the government some issues regarding how ... such that effectively PICC shall pay no salary taxes [in 2003]', the CICC report said. The new policy reduced PICC's tax burden to below the statutory mainland corporate income tax rate of 33 per ...

  8. HK investors fear effects of US Act

    Posted Apr 13th 2010, 12:00am by Staff Reporter

    ... to agree to the new compliance requirements. Among other provisions, the law will subject non-US financial institutions, hedge funds and private equity funds to withholding tax on income and gross ... income subject to tax. ...

  9. Mainlanders save 45pc of income to be No 1

    Posted Mar 10th 2010, 12:00am by Enoch Yiu

    ... Enoch Yiu They may have a reputation for splurging on Louis Vuitton and Chanel in Hong Kong's luxury boutiques but when it comes to the crunch mainlanders are savers at heart. A survey by HSBC Life Insurance shows mainlanders have the highest savings ...

  10. Magazines - Money - PENSION PLANNING

    Retire with fire

    Posted Nov 19th 2012, 12:00am by Liana Cafolla

    ... and asked two reputable financial advisers to take a look at the figures and provide some feedback. Both were told that I am a 40-year-old sole breadwinner with an income of HK$70,000 per month, ... children in Hong Kong and fund my retirement. I plan to work for the next 25 years and retire at 65. I would like to have an income of HK$40,000 per month when I retire to cover my living expenses. ...




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