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  • September 18, 2014
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  1. Business - Banking & Finance - FINANCE

    Offshore tax havens like Hong Kong contribute to poverty, says ActionAid

    Posted May 14th 2013, 12:00am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com Charity says top UK firms, including HSBC, are helping 'siphon' funds to places like Hong Kong Offshore tax havens 'big contributor to poverty' The widespread use of offshore tax havens such as Hong Kong by nearly all 100 of the largest British-listed companies, including HSBC and Standard Chartered, may contribute to world ...

  2. Vigilance the key as hot money flows into HK

    Posted Oct 11th 2009, 12:00am by Staff Reporter

    ... to meet concerns about the city being used as a tax haven. The flood of money into the property market shows Hong Kong cannot afford to relax its vigilance. ... as gang members among more than 1,500 arrests. With its free markets, low tax and tax-free investment gains, our city is a potential magnet to money launderers and tax evaders. Financial centres ...

  3. Take fight to the money-launderers

    Posted Aug 30th 2011, 12:00am

    ... As long as Hong Kong remains a financial centre and a free port, it will be an attractive place for money-launderers and tax dodgers. Reputation is everything to a city such as ours, so ... are also a weakness. The ease with which companies can be set up and managed and the low tax rate are a draw for criminals as well as legitimate firms. Tax authorities collect less information from ...

  4. Business - Banking & Finance

    Hong Kong in line for surge in illicit fund inflows

    Posted May 15th 2013, 12:00am by Toh Han Shih

    ... member states are encouraged to identify tax havens and place them on blacklists and non-EU nations will be encouraged to adopt EU tax transparency standards, it said. Singapore, the world's ... Toh Han Shih hanshih.toh@scmp.com Singapore, EU moves to boost transparency may boost city's allure for global tax cheats HK in line for surge in illicit fund inflows Hong Kong may ...

  5. Hotels applaud move to waive tax

    Posted Feb 28th 2008, 12:00am by Paggie Leung

    ... Paggie Leung The tourism sector has applauded the decision to waive the tax on hotel accommodation, a move that will strengthen the city's image as a duty-free haven. '[Although] the tax rate is just 3 per cent, not 30 per cent, the abolition will be symbolic because it will give foreigners a better impression of Hong Kong,' Michael Li Hon-sing, executive director ...

  6. Business - Banking & Finance - INVESTMENT

    Mainlanders use ‘free money’ from Hong Kong banks to earn higher returns at home

    Posted Feb 26th 2014, 09:34am by KEIRA HUANG; GEORGE CHEN

    ... Keira Huang and George Chen Illegal methods employed to move low-interest tax loans to the mainland to take advantage of wealth management products' higher rates HK tax loans paying ... they have to do it illegally. Chinese citizens are legally allowed to transfer up to US$50,000 per year into the mainland. Violators face fines or criminal prosecution. The annual tax season in Hong ...

  7. GST a sure path to bureaucracy and tax dodging

    Posted Jul 20th 2006, 12:00am by Staff Reporter

    ... I am not opposed, in principle, to a goods and services tax. It is a more progressive tax than is generally admitted. But I do agree with those who feel it would turn Hong Kong into quite a different place. More than any other form of taxation, a GST tends to spawn a tax- avoidance industry all of its own. Lawyers, accountants and others get diverted from productive activity and take ...

  8. HK offers a 'safe haven' after quake

    Posted Apr 18th 2011, 12:00am

    ... Phyllis Tsang Hong Kong has served as a 'safe haven' for foreign companies who pulled their staff from Japan following the March 11 earthquake and tsunami, according ... qualities that had made it a suitable safe haven. 'Firstly, it is far away from the acute threat; secondly, the range of flight options available; and thirdly, which is the most important, ...

  9. Public sector the safe haven

    Posted Nov 12th 2010, 12:00am by Wilson Lau

    ... Wilson Lau In uncertain times, it seems the best boss is still the mother of all employers: government and the public sector. In the case of Hong Kong, working with those who move money around is not bad either. An annual survey by the University Grants C ...

  10. Business - Companies

    Hong Kong firms less eager for tax advice

    Posted Jun 11th 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com HK firms less eager for tax advice Hong Kong companies are less eager for tax guidance and advice than their counterparts in the Asia-Pacific, according to a report from advisory firm Grant Thornton. Only 60 per cent of Hong Kong businesses would like to have more guidance from tax authorities, while in the Asia-Pacific 67 per cent of firms want ...




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