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  1. VAT levy hits Wah Sang

    Posted Aug 13th 2003, 12:00am by Denise Tsang

    ... Provisions for value-added tax (VAT) continued to hamper earnings results at mainland gas supplier Wah Sang Gas Holdings. Wah Sang yesterday said it would set aside $7 million for VAT ... the state tax bureau began charging a 13 per cent VAT on gas pipeline construction, which boasts high profit margins due to one-off subscription or connection fees. The levy replaced a 3 per cent ...

  2. China may cut VAT rebates to relieve back-pay pressure

    Posted Aug 15th 2003, 12:00am by Eric Ng

    ... The government is behind on tax reimbursement, but exporters will feel the heat An estimated 250 billion yuan (HK$234.3 billion) in back payments to export manufacturers may force the central government to lower the size of value-added tax (VAT) rebates. According to government statistics, 627.54 billion yuan in value-added taxes were collected last year, accounting for 36.9 ...

  3. A remarkable man

    Posted Aug 23rd 2003, 12:00am by Staff Reporter

    ... tax in Hong Kong - and I am not yet convinced that there should be - I hope that any 'no tax for tourists' option will be available only to visitors from those countries that offer ...

  4. Sales tax necessary to provide financial stability, say accountants

    Posted Dec 19th 2003, 12:00am by Kelvin Chan

    ... Kelvin Chan Accountants in Hong Kong back the introduction of a sales tax. They agree with the government and other supporters of the measure that it would ensure financial stability in the long run. In a report issued yesterday, the Hong Kong Society of Accountants, which has more than 21,000 members, also suggested other measures to broaden the tax base and improve quality ...

  5. The time is ripe to raise utility charges

    Posted Oct 31st 2003, 12:00am by Jake Van Der Kamp

    ... Jake van der Kamp THE HULLABALOO ABOUT not raising taxes that affect people's livelihoods has started again. Financial Secretary Henry Tang Ying-yen has taken up where his predecessor left off in the matter of government fees, charges and utility levies, and the predictable protest has erupted. Let me state my position immediately. Way to go, Henry, it is far past time. ...

  6. Border tax

    Posted Sep 12th 2003, 12:00am by Staff Reporter

    ... The Democratic Alliance for Betterment of Hong Kong is opposing the government's proposed $18 exit tax for individuals leaving Hong Kong by land. What do you think about the tax? Is it just another travel barrier or a good way to broaden the tax base? Write to us. ...

  7. Tax relief for home buyers still uncertain

    Posted Oct 29th 2003, 12:00am by Mark O'Neill

    ... Mark O'Neill in Shanghai No timetable has been seen for the introduction of proposed measures by the Shanghai government to give homeowners tax relief on their mortgages. ... to arguments over who will lose tax revenue. If it is only Shanghai that loses revenue, Beijing is likely to agree,' he said. Officials declined to comment. The policy would allow mortgage holders ...

  8. Tax fairness

    Posted Sep 02nd 2003, 12:00am by Staff Reporter

    ... In light of the budget deficit, quite a number of organisations have proposed a sales tax for Hong Kong. But a sales tax is regressive in character. It places a relatively heavy burden ... of deflation. The finance chief has promised not to introduce a sales tax until after three years, by which time the poor will be unlikely to have seen their incomes rise to a level that would ...

  9. Taxing problem

    Posted Dec 20th 2003, 12:00am by Staff Reporter

    ... The Hong Kong Society of Accountants is backing the government's call for a sales tax. They say it would ensure financial stability in the long run. Are indirect taxes the best way of bolstering government coffers? Share your views: write to us. ...

  10. Sales tax

    Posted Aug 20th 2003, 12:00am by Staff Reporter

    ... Does Hong Kong need a sales tax? If so, when should the government introduce it? Share your views: write to us. ...




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