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  1. Two months' jail for tax evasion

    Posted May 12th 2006, 12:00am by Martin Wong

    ... is three years in jail and a fine of $50,000. On top of that, there is a further fine equal to three times the amount of tax evaded. The number of tax avoidance cases in the first 11 months ... was the second this year in which a person found guilty of tax evasion was jailed. In March, a 39-year-old property owner pleaded guilty in Eastern Court to three charges of wilfully intending to evade ...

  2. Income tax plans find little favour

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

    ... be payable by most of the population for the first time. Small salaries, unreported income and tax evasion means that less than 5 per cent of the workforce currently pays income tax. The prospect ... David Marsh in Hanoi 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 ...

  3. Taxpayers understate $4.47b of earnings, profits

    Posted Mar 11th 2006, 12:00am by Staff Reporter

    ... and profits stood at $3.8 billion. But the number of tax avoidance cases completed so far was on a par with last year's, with 191 in the 11 months of the current financial year compared with 213 for the whole of last year. In a separate reply to Democrat Sin Chung-kai, the department also said that it would tackle the work arising from the goods and services tax consultation through internal ...

  4. Beijing acts to beat tax cheats

    Posted Jul 19th 2006, 12:00am by Peggy Sito

    ... Peggy Sito The Beijing city government has increased its efforts against tax evasion by thwarting sellers' efforts to understate sale prices on second-hand property. From October, ... billion yuan. The takings accounted for about 30 per cent of the city's total tax income, according to Xinhua. However, tax evasion in the property sector remains widespread. Last year, ...

  5. CAT accounting quiz

    Posted Nov 25th 2006, 12:00am by Staff Reporter

    ... Taxation Tax avoidance is a legal activity while tax evasion is an illegal activity. A True B False Which one of the following is consistent with a government's policy objective to expand the level of economic activity? A An increase in taxation B An increase in interest rate C An increase in personal savings D An increase in public expenditure Describe why you like ...

  6. Double-tax pact to cut burden of HK firms

    Posted Aug 22nd 2006, 12:00am by Anita Lam

    ... Anita Lam Mainland deal to put city ahead of Singapore, Macau Beijing and Hong Kong yesterday sealed an agreement on avoidance of double taxation, which is expected to reduce the tax ... Kong'. The agreement is entitled the Arrangement for the Avoidance of Double Taxation on Income and Prevention of Fiscal Evasion. Hong Kong investors who sell less than 25 per cent of a stake ...

  7. Rich-list tycoon held over 6m yuan tax-dodge claim

    Posted Nov 01st 2006, 12:00am by Staff Reporter

    ... on the list could cause trouble, but people could not blame it if they were investigated for tax evasion. Mr Pan challenged the accuracy of the list, which is based on listed companies' financial ... Leu Siew Ying in Guangzhou A Guangdong tycoon who made it to the Hurun Report's China rich list has been detained for allegedly avoiding payment of more than 6 million yuan ...

  8. Perfect balance is a work in progress

    Posted Jul 22nd 2006, 12:00am by Robert Hanson

    ... that these days football is more a matter of exercising his eyes in front of the TV than showing support for his local team. When successfully defending the comedian Ken Dodd on tax evasion charges, ... and other parts of his life. As tax director at Grant Thornton who specialises in China tax, Mr To usually starts his day at 6am. He logs on to the internet to update himself on news items, recent ...

  9. Focus on foreign tax shortfall

    Posted Apr 28th 2006, 12:00am by Kate Watson

    ... Beijing is modifying its transfer pricing rules to increase revenue from outside investors, writes Kate Watson CORPORATE TAX accounts for about a fifth of total tax revenue in China. But according to state-generated statistics, foreign-invested enterprises contribute little to overall tax revenues because they are either not profitable or just breaking even. But China has ...

  10. Housing body avoids millions in taxes on property purchases

    Posted May 10th 2006, 12:00am by Chloe Lai, Quinton Chan

    ... Chloe Lai and Quinton Chan The Urban Renewal Authority is avoiding tens of millions of dollars in taxes by registering only part of what it pays for old flats. At issue is the term ... market value. The open market value is the market price,' the spokesman said. But Ada Wong Ying-kay, chairman of the Wan Chai District Council and a lawyer, said the practice equated to tax ...




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