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  • August 1, 2014
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  1. Shipping firms hit by lack of tax deals

    Posted Jul 09th 2010, 12:00am by Keith Wallis

    ... Keith Wallis Hong Kong-based shipping companies are being forced to pay hundreds of millions of dollars in extra tax because of the government's failure to secure double taxation agreements with other key jurisdictions. The situation has prompted calls for the government to do more to secure double tax deals with countries such as Australia, Brazil, India and South Africa ...

  2. HKEx targeting mainland firms in approving BVI

    Posted Dec 18th 2009, 12:00am by Amanda Lee

    ... mainland companies as a place to incorporate their businesses. That is partly because it is a zero-tax jurisdiction for overseas companies, provided these firms are not doing business in the islands. Chinese companies registered in offshore tax havens are recognised as foreign direct investments. This means they qualify for favourable income tax rates of as low as 10 per cent and tax ...

  3. Life on the Rock looks attractive to buyers

    Posted Jul 08th 2009, 12:00am by Richard Warren

    ... into a shopping centre for the western Mediterranean. And, because it is a tax haven, Gibraltar has created new jobs in financial and legal services, retail and, most recently, internet gaming. About 50 ... from wealthy individuals moving to Gibraltar to take advantage of low personal taxes. Gibraltar runs a scheme called Category Two, whereby wealthy overseas individuals have taxes ...

  4. Rule changes are taxing issue for expatriates

    Posted Oct 26th 2008, 12:00am by Kate Watson

    ... Britain and the United States impose new regulations which could affect those holding offshore family trusts, writes Kate Watson There have been several important tax changes in Britain ... is that they will have to withhold 30 per cent tax on certain distributions to beneficiaries who left the US on or after June 17, 2008. This means that if trustees want to make a distribution to a beneficiary, ...

  5. CNPC plans to axe 83,500 jobs as price curbs, taxes dent profits

    Posted Jul 26th 2008, 12:00am by Eric Ng

    ... Jiang Jiemin said that despite record-high crude oil prices, the company faced fuel price controls and higher taxes. The nation's largest oil and gas producer posted a 39 per cent decline in pre-tax profit in the first half amid mounting oil refining losses and a higher oil output windfall tax. The job losses highlight the trouble some of the nation's biggest energy companies ...

  6. Laos courts mainland investment with lower wages and tax breaks

    Posted Aug 01st 2008, 12:00am by Denise Tsang

    ... of foreign investors last year, according to Beijing-based Laotian ambassador Vichit Xindavong. Investment incentives included lower minimum wages, a tax-free period of three to seven years, ...

  7. CCB granted 15.4b yuan in tax relief

    Posted Jun 13th 2005, 12:00am by Staff Reporter

    ... government in the form of a 15.47 billion yuan tax cut last year to help boost its capital base, the lender's annual report reveals. The massive tax relief, described by sources as a one-off, spared the bank from the sharp increase in tax liabilities experienced by smaller rival Bank of Communications (Bocom). Like CCB, Bocom received a state capital injection and help in removing ...

  8. Tax probe targets firm with ties to vice-mayor

    Posted Jun 15th 2005, 12:00am by Staff Reporter

    ... to a vice-mayor is being investigated for allegedly filing false receipts in an attempt to evade paying 113 million yuan in taxes. The State Administration of Taxation started investigating Guangdong ... was the wife of Vice-Mayor Wu Fupei. The complainant also alleged that Shibabao was originally required to pay 113 million yuan in outstanding taxes, but was allowed to pay only a third of that amount. ...

  9. Reform of gambling taxes a good bet

    Posted Sep 02nd 2004, 12:00am by Staff Reporter

    ... a change on the other side of the equation: the way it pays taxes. It has a strong case, which the government should consider quickly- and favourably. Essentially, the club is asking for relief ... of Hong Kong's great success stories; it is envied and admired in racing circles the world over. Tax from wagering constitutes almost 12 per cent of the government's income, ...

  10. Online entrepreneurs try to trade their way out of economic crisis

    Posted Aug 01st 2009, 12:00am by Staff Reporter

    ... by iResearch Consulting Group, an internet market researcher based in Shanghai. The internet has become a safe haven for many who lost their jobs at factories and trading firms in coastal regions. ... September. 'I only earn 500 yuan each month, which can just about cover my living expenses, so if the government orders us to undertake commercial registration and pay taxes, I would rather quit ...




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