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  • November 29, 2014
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  1. Business - Economy - HONG KONG

    Mainland holds key to Hong Kong growth story

    Posted Nov 27th 2014, 04:39am by Toh Han Shih

    ... the emergence of three billion people in a new middle class, powered by rising incomes in India and China," Fung said. "Opportunities for job creation in Hong Kong will be greater in the next ...

  2. Business - China Business - REGULATION

    China tightens tax noose on companies with overseas assets

    Posted Jul 07th 2014, 05:26am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com New legislation requires more information on overseas investments to improve tax collection Mainland firms face tighter rule on income disclosure Beijing ... the State Administration of Taxation announced a new rule that required greater disclosure by mainland companies of their overseas investments and income. The new regulation will take effect ...

  3. Business - Companies - TAXATION

    Firms face Hong Kong and US penalties for failure to register for Fatca

    Posted Jul 09th 2014, 05:19am by Toh Han Shih

    ... on their US income. As of July 2, some 2,008 financial institutions in Hong Kong have registered with Fatca, according to the IRS. This is a fraction of the tens of thousands of financial institutions ...

  4. Business - China Business - TAXATION

    China fails to collect 65pc of corporate taxation, says IMF

    Posted Jun 27th 2014, 01:04am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com Mainland's high rate blamed for low corporate income tax efficiency, while HK's low levels fuel outsized foreign direct investment Beijing fails ... the mainland was the 11th worst in "corporate income tax efficiency" measures from 2011 to 2012. Corporate income tax efficiency is defined as actual tax revenue compared to the potential tax ...

  5. Business - Banking & Finance - FINANCE

    Beijing to back United States over new Fatca law against tax evasion

    Posted Jun 27th 2014, 11:50pm by Toh Han Shih

    ... Chinese officials." The US authorities will impose a 30 per cent withholding tax on US-related income going through financial institutions that do not comply with Fatca. Richard Weisman, ...

  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

    ... on their US income. [The US has] underestimated the difficulty of complying with Fatca TOINE KNIPPING, AMICORP GROUP "By July 1, the original deadline, a big percentage of smaller financial ...

  7. Business - Companies - LISTINGS

    Tung Chee-hwa set to join Alibaba board

    Posted Jun 17th 2014, 04:41am by Toh Han Shih, BIEN PEREZ

    ... offering prospectus showed net income rose to about 23.1 billion yuan (HK$29.1 billion) in the year ended March 31, compared with 8.4 billion yuan a year earlier. Revenue rose 52 per cent to 52.5 ...

  8. Business - China Business - REGULATION

    Beijing urged to comply with Foreign Account Tax Compliance Act

    Posted May 27th 2014, 09:12am by Toh Han Shih

    ... tax avoidance. Those who fail to do so face a 30 per cent withholding tax on their US income. After previously stating there would be no delays in implementing Fatca, the IRS announced earlier ...

  9. Business - China Business - Tax

    China urged to tackle failings in tax system

    Posted Nov 21st 2013, 02:47am by Toh Han Shih

    ... Congress on Sino-US relations. The government's decision explicitly refers to generating more revenue from personal income, real estate and resource taxes, which would restrain housing prices, redistribute income from wealthy to poorer households, discourage wasteful use of resources and provide local governments with an alternative tax base. Value-added tax and income tax may be prime ...

  10. Hyder targets income boost from mainland

    Posted Jan 29th 2009, 12:00am by Toh Han Shih

    ... Toh Han Shih Two key developments on the mainland- urbanisation and the government's multitrillion-yuan stimulus package- will boost contributions from Hyder Consulting's operations in the country in the next few years, the company says. 'W ...




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