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  • October 26, 2014
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  1. Business - Comment - MONITOR

    The US$50b a year reason China's elite love tax havens

    Posted Jan 23rd 2014, 01:13am by Tom Holland

    ... reason China's elite love tax havens Yesterday an outfit called the International Consortium of Investigative Journalists published a story in several newspapers around the world alleging that close relatives of many of China's senior leaders own companies registered in offshore tax havens including the British Virgin Islands. In terms of revelatory shock, this story has as much ...

  2. Business - Comment - MONITOR

    Early signs suggest new stamp duties haven't reined in prices

    Posted Jan 10th 2013, 12:00am by Tom Holland

    ... haven't reined in prices At the end of October, the Hong Kong government slapped a punitive 15 per cent stamp duty on all non-resident and corporate buyers of residential properties in an attempt ... time as tax rates on quick sales were jacked up, is having an appreciable effect. We can see that simply by looking at transaction volumes in the residential market. In November, immediately ...

  3. Business - Comment - MONITOR

    For a fairer tax system, how about scrapping the profit tax?

    Posted Aug 27th 2013, 12:00am by Tom Holland

    ... Hong Kong charges the lowest corporate taxes in East Asia, and few economies outside the oil-rich states of the Gulf, former Soviet clients or a handful of tax havens impose a lower burden ... Tom Holland Hong Kong property baron may have a point in calling for switch to a dividend tax that would place burden on shareholders For a fairer tax system, how about scrapping ...

  4. Business - Comment - MONITOR

    It's risk-off again as troika plays with fire in Cyprus

    Posted Mar 19th 2013, 12:00am by Tom Holland

    ... Tom Holland Making bank depositors pay in a debt crisis is nothing new, but the overt tax on Cypriots' savings has plunged the euro zone back into uncertainty It's risk-off again ... to take a haircut as part of the bail out. Under the deal announced over the weekend, deposits of more than €100,000 (HK$1.01 million) will be hit with a one-off tax of 9.9 per cent, while ...

  5. Business - Comment - MONITOR

    After nine years, it's time to leave the stage

    Posted Mar 06th 2014, 12:25am by Tom Holland

    ... Kong's public finances. The city's fiscal position was unsustainable, they warned, arguing the only way to balance the books would be to impose a goods and services tax. Public opinion rightly rejected such an unnecessary and regressive tax proposal. And today, with the government sitting on accumulated surpluses worth nearly four years of government spending, Hong Kong's ...

  6. Business - Comment - MONITOR

    Hong Kong's stamp duties are woefully inefficient ways to tax

    Posted Oct 22nd 2013, 03:27am by Tom Holland

    ... Tom Holland The argument that revenue raised from taxing share transactions is a pay cheque for Hongkongers for keeping the rule of law is short-sighted HK's stamp duty is a woefully ... on share trading. Jake disagreed. He accepted my points that the government's 0.2 per cent per round trip tax on trading reduces liquidity, eats into savings and bumps up the cost of capital. ...

  7. Business - Comment - MONITOR

    Hong Kong government must change the way it taxes property

    Posted Aug 15th 2013, 12:00am by Tom Holland

    ... Tom Holland The lump-sum land-premium system should be replaced with a scheme whereby rental income is collected from leaseholders Government must change the way it taxes property In his ... revenue will drop substantially if our tax regime remains unchanged," he warned. "Meanwhile, expenditure on welfare and health care will soar. We may not be able to make ends meet." ...

  8. Business - Comment - MONITOR

    It's time for some big thinking about Hong Kong's tax system

    Posted Aug 06th 2013, 12:00am by Tom Holland

    ... thinking about Hong Kong's tax system Whenever organisations like the World Bank, the Heritage Foundation or the World Economic Forum compile their league tables of global competitiveness, Hong Kong always draws fulsome praise for its low and simple tax regime. With its salaries tax capped at just 15 per cent, a profits tax of 16.5 per cent, and no dividend, capital gains ...

  9. Business - Comment - MONITOR

    It pays China to block global deals on climate and trade

    Posted Dec 17th 2013, 03:19am by Tom Holland

    ... to Bali for the ninth ministerial meeting of the World Trade Organisation. But all those days and nights spent in talks haven't been terribly productive. In Warsaw, government environment ... carbon duties on imports from countries like China that have not undertaken to make emissions reductions of their own. However, such selective "border tax adjustments" would break WTO ...

  10. Business - Comment - MONITOR

    The essential financial reform Beijing cannot afford to ignore

    Posted Jan 28th 2014, 01:27am by Tom Holland

    ... Tom Holland Abolition of a mainland agricultural tax boosted farming a decade ago, but also helped to create a massive local government debt pile The essential financial reform Beijing ... at the beginning of their time in office, Hu and Wen scrapped China's 2,600-year-old agricultural tax. Local governments’ borrowing bonanza was unprecedented in scale At the time observers praised ...




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