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  • November 28, 2014
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  1. News - China Insider - LAW

    Cabinet adviser denies media reports amid heated debate over China's inheritance tax law

    Posted Oct 02nd 2013, 11:49am by Chris Luo

    ... Chris Luo chris.luo@scmp.com A cabinet adviser has denied claims he told media that a draft inheritance tax law would be discussed at an upcoming annual Communist Party convention amid heated public debate over its feasibility. Liu Huan, a member of the Counsellors’ Office of the State Council, said he had not given any media interviews regarding the inheritance tax law ...

  2. Property - Hong Kong & China - Tax

    As China drafts property tax law, fate of pilot programme up in the air

    Posted Mar 11th 2014, 02:29pm by Langi Chiang

    ... Langi Chiang langi.chiang@scmp.com Confusion over trial property tax The mainland has started drafting a property tax law, but analysts are not sure whether it means a pilot programme ... Congress, told reporters on Sunday that the government "is drafting the [property tax] law and will submit it for approval when the time is ripe". That relieved some industry figures, ...

  3. Lifestyle - Family & Education - LEGAL EYE

    Legal Eye: US expats need to research tax laws before relinquishing passport

    Posted Nov 25th 2013, 07:53pm by Timothy Burns

    ... abroad find themselves facing onerous and often confusing obligations for disclosure. In a further attempt to curb offshore tax evasion, Congress enacted the Foreign Account Tax Compliance Act ... As a result of these burdensome tax and compliance requirements and increased penalties for non-compliance, there has been a dramatic surge in US citizens relinquishing their citizenship. Numbers have ...

  4. News - China Insider - LAW

    Inheritance tax law talk triggers heated debate in China

    Posted Oct 01st 2013, 05:02pm by Chris Luo

    ... phasing out inheritance tax law. The Beijing News reported that Canada, Australia, New Zealand, Italy have all scrapped the law, while Hong Kong and Singapore phased out theirs several years ago. Explaining the trend, the article said it was due to laws that turned out to damage the middle-class the most, while tax cuts were preferable as they helped to attract talent and capital. ...

  5. Business - Economy - TAXATION

    US tax law no red light for Chinese green card seekers

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

    ... Toh Han Shih hanshih.toh@scmp.com While some Americans are giving up their citizenship due to invasive reach of Fatca, the US retains its allure for applicants from China U.S. tax law no red light for Chinese green card seekers A US law to fight tax evasion globally, the Foreign Account Tax Compliance Act (Fatca), is driving some worried Americans to give up their citizenship, ...

  6. Comment - Insight & Opinion

    US tax law will put Hong Kong banks in a quandary

    Posted Aug 28th 2013, 12:00am by WILL HICKEY

    ... Will Hickey Will Hickey says Beijing won't be silent on any decision to turn over financial data of Americans US tax law will put HK banks in a quandary Hong Kong is set to become the financial battleground over whether US or Chinese dominance will shape the world economy. The Foreign Account Tax Compliance Act will attempt to shake the tree of US expatriates who have failed ...

  7. Business - Companies - REGULATION

    Financial firms tally hit from US tax law

    Posted Jul 08th 2013, 01:58am by Jeanny Yu, Ray Chan

    ... U.S. tax law A new tax rule that will force overseas financial institutions to disclose the account details of their United States clients to the US government is threatening Asian asset managers, according to ICI Global, a lobby group for the global asset management industry. “All the international tax issues, such as Fatca (the US Foreign Account Tax Compliance Act), and FTT (the ...

  8. Local insurers seek exemption from US tax law

    Posted Jul 09th 2012, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com Hong Kong insurers are the latest to oppose a proposed US tax law, and are seeking waivers to protect nine million local policies that could be affected by it. ... of the Hong Kong Federation of Insurers' FACTA task force and chief executive of ING Hong Kong. Yong said the industry had written to US tax authorities demanding an exemption from the US tax law ...

  9. HK to gain from revised US tax law, expert says

    Posted Feb 26th 2012, 12:00am

    ... John Carney john.carney@scmp.com Hong Kong stands to gain from recent amendments of a new US tax law that cracks down on non-US financial institutions that help Americans hide their wealth, a tax expert says. The United States Foreign Account Tax Compliance Act takes effect next year and seeks to prevent US citizens or permanent residents from shirking their tax obligations ...

  10. Draft tax law sets record for feedback

    Posted Jun 01st 2011, 12:00am

    ... Ed Zhang ed.zhang@scmp.com The draft amendment to the personal income tax law has made history by attracting a record 230,000 items of feedback in a month-long online public consultation. ... record-holder for the most feedback was the Labour Contract Law of 2006, which drew more than 190,000 comments. According to mainland reports, the majority of online comments regarding the new tax law ...




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