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  • July 24, 2014
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  1. Comment - Insight & Opinion

    Governments take wrong approach in raising income taxes

    Posted Jan 10th 2013, 12:00am

    ... SCMP Editorial Punishing the job creators French President Francois Hollande's threatened income tax of 75 per cent for the wealthiest citizens has driven actor Gerard Depardieu ... of earnings to the taxman. America's top earners will be slugged 39.6 per cent of their income this year, 4.6 percentage points more than last, under the fiscal cliff deal agreed to by the US ...

  2. Business - Companies

    EU to probe Apple’s Irish tax shelters

    Posted Jun 11th 2014, 10:33am by Reuters

    ... it achieve an effective tax rate of just 3.7 per cent on its non-US income last year, its annual report shows – a fraction of the prevailing rates in its main overseas markets. The focus ... Reuters in Dublin The European Commission will launch a formal investigation on Wednesday into Apple’s tax arrangements in Ireland, Irish state broadcaster RTE reported, without naming its ...

  3. News - World - FRANCE

    France's top court annuls 75pc income tax

    Posted Dec 30th 2012, 12:00am by AFP

    ... Agence France-Presse in Paris Top court annuls 75pc tax rate, in blow to Hollande France's highest court yesterday struck down a 75 per cent upper income tax rate, dealing a major blow to Socialist President Francois Hollande, who had made it his centrepiece taxation measure. The government vowed to push ahead with the tax rate, which would apply to incomes over €1 ...

  4. Business - Economy - THE VIEW

    Cash subsidies go only so far in reducing poverty in Hong Kong

    Posted Jul 22nd 2014, 11:22am by Richard Wong

    ... the newly defined poverty line. This proposal is quite similar to the earned-income tax-credit scheme in the United States, which is a refinement of Milton Friedman's proposal for a negative income tax. Friedman argued that income redistribution by government was justified because relying solely on voluntary charity would lead to a free-rider problem- if someone else gives charity ...

  5. Business - Companies

    US firms criticised for tax avoidance

    Posted Jun 07th 2014, 01:14am by Reuters

    ... in federal income tax, the groups said in a report that comes amid increased attention to corporate tax avoidance worldwide. "Many large, US-based multinational corporations avoid paying US ... Reuters in Washington Majority of large companies using offshore tax havens, new report says US firms criticised for tax avoidance Most Fortune 500 corporations have offshore tax haven ...

  6. News - World - UNITED STATES

    77,000 foreign banks agree to share tax information with United States

    Posted Jun 03rd 2014, 10:07am

    ... Associated Press It will soon get a lot harder to use overseas accounts to hide income and assets from the US tax collectors. More than 77,000 foreign banks, investment funds and other financial institutions have agreed to share information about US account holders with the Internal Revenue Service as part of a crackdown on offshore tax evasion, the United States Treasury ...

  7. Sport - Soccer - INVESTIGATION

    Scolari charged with tax fraud

    Posted May 14th 2014, 09:39pm by AFP

    ... Luiz Felipe Scolari “I made all my income tax declarations correctly,” Scolari said in reaction to the press reports. “I always declared my earnings in all the countries I worked in,” he ... coach Luiz Felipe Scolari with tax fraud, less than a month before the World Cup starts, a prosecution spokesman said on Wednesday. Scolari is accused of hiding about 7 seven million euros ...

  8. Income tax plans find little favour

    Posted Mar 09th 2006, 12:00am by David Marsh

    ... For the first time, most citizens will pay Having survived war and decades of poverty, Vietnamese citizens are now facing a more common scourge: income tax. Vietnam's Ministry of Finance has announced plans to eliminate the minimum salary level, currently about US$325 a month, at which income taxes are payable. The move means income taxes will now be payable by most ...

  9. News - Asia

    Sonia Gandhi accuses Modi government of 'witch hunt' against family and Congress party

    Posted Jul 10th 2014, 11:17pm by Reuters

    ... The official said the notices pertained to income tax and were related to the court case involving Gandhi and her son. "This kind of political witch hunt will only help us and help us to come back ... Reuters in New Delhi Gandhi calls tax probe a witch hunt Sonia Gandhi, president of India's ousted Congress party, has accused the new Narendra Modi-led government ...

  10. Business - Banking & Finance - WHITE COLLAR

    Fatca dealt with, but clones of tax evasion law may emerge

    Posted May 12th 2014, 10:28am by Enoch Yiu

    ... Account Tax Compliance Act (Fatca) aims to prevent wealthy US citizens from dodging their tax liabilities. The US, which taxes its citizens' worldwide income, initially wanted to implement ... with Fatca would face a 30 per cent withholding tax on their US-sourced income. So even Hong Kong's MPF, which manages retirement funds for 2.4 million employees in the city, of whom ...




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