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  • April 18, 2014
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  1. Shipping firms hit by lack of tax deals

    Posted Jul 09th 2010, 12:00am by Keith Wallis

    ... based on a company basis and is calculated based on shipping companies' freight income on a deemed profit basis. That means the shipping companies could be required to pay tax in the relevant jurisdictions regardless of whether they derive profits or sustain losses from their operations.' In the Philippines, the freight tax has two components: a 2.5 per cent income tax ...

  2. Rule changes are taxing issue for expatriates

    Posted Oct 26th 2008, 12:00am by Kate Watson

    ... comprised income, capital and capital gains so that assets that could be enjoyed in a more tax-efficient way could be easily identified, Ms Chadha said. Also, when a non-domiciled British resident ... Britain and the United States impose new regulations which could affect those holding offshore family trusts, writes Kate Watson There have been several important tax changes in Britain ...

  3. CCB granted 15.4b yuan in tax relief

    Posted Jun 13th 2005, 12:00am by Staff Reporter

    ... by an exemption of all but 1.8 billion yuan of its corporate income tax last year. The exemption was only approved by the Ministry of Finance (MOF) and the State Administration of Taxation earlier ... government in the form of a 15.47 billion yuan tax cut last year to help boost its capital base, the lender's annual report reveals. The massive tax relief, described by sources as a one-off, ...

  4. Reform of gambling taxes a good bet

    Posted Sep 02nd 2004, 12:00am by Staff Reporter

    ... of Hong Kong's great success stories; it is envied and admired in racing circles the world over. Tax from wagering constitutes almost 12 per cent of the government's income ... a change on the other side of the equation: the way it pays taxes. It has a strong case, which the government should consider quickly- and favourably. Essentially, the club is asking for relief ...

  5. Belle trims growth target for unprofitable brands

    Posted Sep 11th 2008, 12:00am by Staff Reporter

    ... in Belle dropped as much as 11.43 per cent to close down 9.84 per cent at HK$6.23 yesterday after the results announcement. 'The significant increase in income tax expense was due to the expiration of a two-year exemption from enterprise income taxes in 2007,' the company said in a statement filed with the Hong Kong stock exchange yesterday. Mr Sheng said in the next two ...


    Posted Jan 28th 2004, 12:00am by Staff Reporter

    ... fortune reit shows net income of $58.9m Fortune Real Estate Investment Trust, controlled by Li Ka-shing, announced its net income available for distribution for the period between August 12 and December 31 was $58.9 million. Fortune, which must distribute 100 per cent of its tax-exempt income to investors, said the distribution per unit would be 12.43 cents, 6.23 per cent ...

  7. HKEx targeting mainland firms in approving BVI

    Posted Dec 18th 2009, 12:00am by Amanda Lee

    ... mainland companies as a place to incorporate their businesses. That is partly because it is a zero-tax jurisdiction for overseas companies, provided these firms are not doing business in the islands. Chinese companies registered in offshore tax havens are recognised as foreign direct investments. This means they qualify for favourable income tax rates of as low as 10 per cent and tax ...

  8. Wen warning on waste, corruption

    Posted Mar 06th 2009, 12:00am by Martin Zhou

    ..., which made up 22.7 per cent of total central government fiscal income last year, would grow at 7.9 per cent this year, compared with 16.3 per cent a year ago. Growth in corporate income tax, which made up 21.3 per cent of central government fiscal income last year, would slow from 27 per cent to 6 per cent. Imports-related value-added and consumption taxes - which accounted for 22 ...

  9. Sharp rise in profit at property company

    Posted Mar 07th 2011, 12:00am by Ana Wang

    ... issuances.' The net cash used in operating activities in 2010 was primarily attributable to the group's profit before income tax and changes in working capital representing a cash outflow of 3.92 billion yuan. The property development and investment segment recorded a profit before income tax of 2.603 billion yuan, while the property management services segment recorded a loss of 5.68 ...

  10. CCB given 65.4b yuan fund pledge

    Posted Jun 14th 2005, 12:00am by Staff Reporter

    ... 41.7 billion yuan of the pledge, including a 15.47 billion yuan corporate income tax cut, as reported by the South China Morning Post yesterday. Although sources initially described the tax relief as a one-off, it is understood the government also exempted CCB from corporate income tax in the first half of this year. The entire sum is likely to be accounted for by the end ...




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