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  • July 25, 2014
  • Last updated: 9:47pm
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  1. Business - Economy - China Economy

    Chinese economy expands 7.5pc, faster than expected, data shows

    Posted Jul 16th 2014, 10:16am by Victoria Ruan

    ... the economy was stable in almost all areas, including growth, jobs, inflation and income. But he warned that economic restructuring would cause more pain, saying: "We must not be blindly ... of loans to deposits with the aim of release more liquidity to the market. Infrastructure investment was brought forward and taxes for small businesses were trimmed. "The result was slightly ...

  2. Business - China Business - EARNINGS

    China's airlines hit hard by weaker yuan

    Posted Jul 17th 2014, 01:22am by SIJIA JIANG

    ... competition and higher taxes. The unprecedented depreciation of the yuan this year has been blamed by the nation's biggest airlines warning their first-half profits could shrink significantly. ... will be able to improve their income statement in the second half will depend on the outlook of the yuan," Cheng said. "If the yuan returns to its value at the beginning of this year, ...

  3. News - Hong Kong - Tax

    Hong Kong agrees to hand over financial details of Americans working in city to US tax authorities

    Posted Mar 26th 2014, 05:00am by Phila Siu

    ... authorities would withhold 30 per cent of their US-sourced income, according to Ivan Strunin, managing director of Deloitte's Asia Pacific International Core of Excellence (US Tax Service). ... Phila Siu phila.siu@scmp.com Under Foreign Account Tax Compliance Act, US can ask for data if certain conditions are met HK agrees to give financial data of Americans to US Hong Kong tax ...

  4. Bid to cool hopes of rise in tax threshold

    Posted Jun 19th 2009, 12:00am by Staff Reporter

    ... Al Guo The Finance Ministry's suggestion in a report that raising the threshold of the mainland's relatively low personal income tax would benefit high-income people the most ... monthly tax threshold any higher would not benefit middle-class earners and would hurt low-income earners. If the tax threshold were raised to 3,000 yuan a month, the report said, people ...

  5. NPC votes for bigger rise in tax threshold

    Posted Jul 01st 2011, 12:00am

    ... Cary Huang in Beijing cary.huang@scmp.com The mainland's top legislature has approved a bigger increase in the income tax threshold in a rare case of public outcry resulting ... in fiscal revenue each year- equal to 48 per cent of personal income tax receipts last year. The new personal income tax scheme will be introduced on September 1. The tax rate on salaries and wages ...

  6. Business - Banking & Finance - Foreign Account Tax Compliance Act

    Financial firms struggling with Fatca compliance as deadline looms

    Posted Jun 27th 2014, 09:53am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com The first deadline for the US Internal Revenue Service's new Foreign Account Tax Compliance Act falls on July 1, but will financial institutions ... with the Foreign Account Tax Compliance Act (Fatca), forcing the United States government to put off its enforcement. Fatca is designed to combat tax evasion by US taxpayers. Under the act, financial firms ...

  7. Business - Economy - ECONOMY

    Japan's industrial output rises in May, signalling rebound after tax hike

    Posted Jul 01st 2014, 04:05am by Reuters

    ... of a national sales tax rise, underscoring views the economy will absorb the increase largely unscathed. The 0.5 per cent month-on-month rise compared with the median estimate of a 0.9 per cent increase ... in the summer from the April 1 sales tax rise and spending slump in the current quarter. That rebound could further dampen expectations the Bank of Japan will ease policy again this year, ...

  8. Business - LAI SEE

    Old school politician Macfarlane tells it like it is on carbon tax

    Posted Jul 01st 2014, 04:05am by Howard Winn

    ... the current coalition government is intent on repealing the carbon and resources taxes, we wondered if the genie hadn't been let out of the bottle and that for potential investors an element of uncertainty had been injected into the tax framework surrounding the mining sector. He began his answer by recalling a recent meeting with some business people who'd been discussing an investment ...

  9. Beijing targets developers in amended tax measures

    Posted Apr 23rd 2008, 12:00am by Staff Reporter

    ... tax payments providing the latest evidence of the current focus of policymakers, analyst say. Under the arrangements unveiled on Wednesday last week, developers are required to prepay income tax quarterly based on an estimated taxable income calculated on a hypothetical net profit margin set in most cases at 20 per cent of presale proceeds. This compares with the previous practice ...

  10. News - Asia - JAPAN

    Anger erupts over court denial of welfare to foreign permanent residents of Japan

    Posted Jul 21st 2014, 10:49pm by Julian Ryall

    ... Julian Ryall in Tokyo Japanese Supreme Court rules that a Chinese permanent resident is not entitled to payouts even though she has paid taxes all her life Foreigners riled over welfare ... benefits. Friday's ruling by the highest court means that even foreign nationals born in Japan, who have spent all their lives in the country and paid their taxes, national insurance premiums ...




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