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  • November 23, 2014
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  1. Settlement payouts not taxable: doctors

    Posted Jun 15th 2007, 12:00am by Nick Gentle

    ... applying income tax to the payments, which were allocated to doctors under a settlement agreement with the Hospital Authority. In March last year, Mr Justice William Stone upheld a claim by 165 ... Nick Gentle About 4,600 doctors awarded a total of HK$629 million in back pay after a landmark court ruling should not have to pay tax on their payments, a judicial review application ...

  2. 2007 hailed as fruitful year for landmark laws

    Posted Dec 31st 2007, 12:00am by Staff Reporter

    ... tomorrow, and they range from a heavyweight Corporate Income Tax Law and a Labour Contract Law, to a new law addressing unruly urban planning and a new regulation shortening the week-long Labour Day public holiday and adding three other observances during the year. Of all the laws passed this year, the Corporate Income Tax Law and the Anti-Monopoly Law are seen as topping the list of those ...

  3. Trust funds can help expatriates minimise their taxes the legal way

    Posted Jun 28th 2005, 12:00am by Chris Davis

    ... States tax law, for example, US citizens may be subject to taxation even though they have lived and generated income from overseas for years. Conversely, Hong Kong tax law operates territorially, taxing only income generated in Hong Kong, regardless of domicile or nationality. Sovereign Trust (Hong Kong), the Hong Kong member company of the international Sovereign Group, specialises ...

  4. Top court rejects couple's appeal for tax break on investment losses

    Posted Feb 23rd 2011, 12:00am by Austin Chiu

    ... substantial losses during the Asian financial crisis that he wanted discounted from his income tax. The Board of Review under the Inland Revenue Ordinance ruled against him. Its decision was upheld ... Austin Chiu A couple who lost appeal after appeal over their claims that heavy losses from their securities investment should be tax-deductible saw their latest legal bid thrown out ...

  5. Tycoon suspected of failing to report 300m yuan income

    Posted Apr 14th 2008, 12:00am by Staff Reporter

    ... admitted Mr Zong had engaged in tax evasion, since mainland residents should pay personal income tax no matter where their earnings came from. But it is still unknown whether Mr Zong ... income, mainland media say. Zhejiang's Revenue Department has been auditing the accounts of Zong Qinghou, 63, ranked China's 63rd-richest man by Forbes last year, Caijing, a well-known ...

  6. Landlord gets HK$1m fine for tax evasion

    Posted Sep 04th 2007, 12:00am by Polly Hui

    ... and received monthly rental through his bank accounts. An investigation by the Inland Revenue Department revealed that Lam declared only the rental income derived from Shop A in his tax returns, and omitted the rental income received from Shop B for the years of assessment 2000-01 to 2004-05. The total amount of rental income understated was HK$2,852,500 and the resultant tax evaded ...

  7. Controversial property law cleared to go before NPC

    Posted Dec 30th 2006, 12:00am by Staff Reporter

    ... insisted the controversial property law complied with the constitution, despite claims from critics that it was 'unconstitutional'. The committee also said lifting the income tax rate ... will also vote in March on a bill to set corporate income tax rates paid by mainland and foreign companies at 25 per cent. They both pay a nominal rate of 33 per cent, but some overseas firms enjoy ...

  8. In Brief

    Posted Nov 10th 2010, 12:00am by Staff Reporter

    ... Tax treaty signed with Japan Hong Kong yesterday signed an agreement with Japan to avoid double taxation and prevent evasion of income taxes. It is the 16th such agreement following deals with the mainland, Belgium, Thailand, Luxembourg, Vietnam, Brunei, the Netherlands, Indonesia, Hungary, Kuwait, Austria, Britain, Ireland, Liechtenstein and France. Drink-driving arrest after crash ...

  9. Jewellery empire chief on trial over alleged HK$170m fraud

    Posted Aug 15th 2007, 12:00am by Staff Reporter

    ... and Wong face charges of conspiracy to defraud. The District Court was told the defendants had allegedly offered commissions that were structured to help agents avoid paying income tax on them. ... they brought in, together with the amount of purchases made in their showrooms. He said that as some recipients had wanted to conceal the commissions to avoid tax, TSL had offered them 'secret ...

  10. Court battle puts heat on fung shui masters

    Posted Feb 03rd 2010, 12:00am by Martin Wong

    ... with her father-in-law over the Chinachem empire. Yu said many fung shui masters never thought of paying tax since their income was unstable and they did not perceive red packet money as income. 'But tax officials said we have to treat it as income and we now have to pay tax.' Yu said he had doubts about Chan's fung shui knowledge. Yu said he knew months ago that Chan would ...




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