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  • September 16, 2014
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  1. Boost for corporate tax-rate merger

    Posted Dec 23rd 2004, 12:00am by Cary Huang

    ... Cary Huang Unified levy supported for domestic and foreign banks The Ministry of Finance has pledged support for the merger of the two-tier corporate tax system for domestic and foreign ... this was the first time the ministry had responded to widespread calls from the domestic business sector urging a unified tax regime. The Economic Daily is an affiliate of the State Council, the mainland ...

  2. Caribbean tax haven adds heat to China's hot money

    Posted May 19th 2011, 12:00am

    ... Naomi Rovnick in Road Town, Tortola naomi.rovnick@scmp.com Wealthy mainlanders are increasingly sending their offshore income home via the British Virgin Islands to avoid paying tax in a trend that has entrenched the Caribbean haven as China's second-biggest source of foreign investment, experts say. Strict corporate secrecy laws in the BVI, the abbreviation by which ...

  3. Macau tax haven has HK watching

    Posted Jun 23rd 2004, 12:00am by Jane Moir

    ... skills. The idea is to attract international companies, expert staff, transfer of technology, knowledge, to local Macau.' Compared with most tax havens, Macau requires the company to have business activities- not just a shell. 'They don't want to be criticised by the international tax community as setting up another tax haven,' Ms Macpherson said. Although the scheme ...

  4. Tax law change eyed to lure Islamic funds

    Posted Jan 16th 2008, 12:00am by Enoch Yiu

    ... Maria Chan and Enoch Yiu In a bid to attract Muslim investors, Hong Kong is considering modifying its tax laws and has applied to join an Islamic financial standards organisation, ... the government was looking at whether tax laws needed to be modified. Islamic religious law, called Shariah, bans interest income but does allow profit sharing. Thus, many Islamic investments, ...

  5. Beijing increases tax on foreign firms to 18pc

    Posted Dec 31st 2007, 12:00am by Denise Tsang

    ... Denise Tsang Rise adds to costs also driven higher by new labour law Foreign companies in mainland coastal regions will greet the new year with a three percentage point rise in income tax to 18 per cent- an unexpectedly high increase that will deal yet another blow to tens of thousands of manufacturers. As a core part of a sweeping overhaul of the mainland's tax regime, ...

  6. Mainland businesses welcome new tax law

    Posted Mar 09th 2007, 12:00am by Staff Reporter

    ... local officials, worried that their regions might lose their appeal to many foreign investors. The bill seeks to unify the rate of income tax paid by foreign and domestic firms at 25 per cent. If passed, it will end a decades-old practice aimed at attracting foreign investment that makes domestic firms pay 33 per cent income tax while their foreign counterparts are subject to an average 15 ...

  7. Carbon tax the way to blue skies and financial stability

    Posted Dec 27th 2006, 12:00am by Staff Reporter

    ... The purpose of taxes in Hong Kong is to collect revenue for public spending on the various needs of society. The purpose of taxes in other developed countries sometimes goes beyond mere public revenue to act as a financial tool to drive certain changes. For instance, a tax on plastic bags in certain European nations aims to cut the excessive use of these bags, to reduce ...

  8. Law ends tax worries for offshore funds in HK

    Posted Mar 07th 2006, 12:00am by Staff Reporter

    ... Cameron Dueck Legal basis for exemption brings HK in line with rival Singapore but will not encourage more locally domiciled funds A new tax law passed by lawmakers last week has lifted ... tax on profits from transactions made in Hong Kong, had been in the works for two years. Previously, a lack of clear rules regarding the tax liability of unauthorised offshore funds left ...

  9. Experts call for bigger tax breaks for funds

    Posted Sep 05th 2005, 12:00am by Enoch Yiu

    ... Enoch Yiu They say proposed law does not go far enough to attract offshore funds to HK Tax experts are urging the government to widen the scope of the proposed tax exemption law governing offshore funds in a bid to encourage more fund management companies to operate in Hong Kong. PricewaterhouseCoopers Asia Pacific tax leader Florence Yip Kwai-fong said the proposed law change ...

  10. Hampered havens help Hong Kong

    Posted Jun 15th 2007, 12:00am by Shobha Nihalani

    ... readily available for people and companies to avoid taxes has led to a shift in assets from traditional tax havens such as Gibraltar, the Cayman Islands, or Switzerland to Hong Kong and Singapore, ... or the practice of avoiding taxes through offshore tax havens. OECD countries have signed an agreement to exchange information to counter harmful tax practices. Because Hong Kong is not a member ...




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