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  1. Legislators vow to fight plan for car tax increase

    Posted Mar 17th 2011, 12:00am by Tanna Chong

    ... Tanna Chong The much criticised budget may face more setbacks with the government-friendly Liberal Party planning to fight a proposal to increase the first registration tax for cars. Other major parties- pro-government and pan-democratic- are also holding out on a rise in the car tax and tobacco duty, which would increase by 15 per cent and 41.5 per cent, respectively, if passed ...

  2. Another budget setback looms as lawmakers oppose 15pc car tax rise

    Posted Mar 23rd 2011, 12:00am by Anita Lam

    ... Anita Lam The government may face another budget setback as an increasing number of lawmakers oppose the proposed 15 per cent increase in registration tax for new cars. The Legislative Council's Finance Committee will meet tomorrow to examine the proposal, even though the tax rise already came into effect on February 23 immediately after the budget announcement. If the bill ...

  3. MAGICAL Monaco

    Posted Jul 08th 2011, 12:00am

    ... John Cremer Monaco has many claims to international fame, including its casino, grand prix, mega-yachts, tax haven status, Hollywood-style glamour and the palm-lined Avenue Princesse ... for investments that has no equivalent anywhere in the world,' says Massimiliano Ibba, managing director of the Agedi property agency. The local tax regime imposes no income, property, inheritance ...

  4. Quit whining about the yuan. There is a far simpler solution

    Posted Feb 08th 2011, 12:00am by Tom Holland

    ... They could introduce a value-added tax (VAT). Levying a new tax might sound like an unlikely way to boost net exports, but it makes sense. Unlike most other countries, and all of America's main ... there is no tax difference between imported and domestically produced goods. But the US has no VAT, with US companies and consumers paying their dues through other taxes. This produces a major distortion. ...

  5. NPC votes for bigger rise in tax threshold

    Posted Jul 01st 2011, 12:00am

    ... Cary Huang in Beijing cary.huang@scmp.com The mainland's top legislature has approved a bigger increase in the income tax threshold in a rare case of public outcry resulting ... to 3,500 yuan, Li Fei, vice-chairman of its Legislative Affairs Commission, told a briefing yesterday. On Monday, the NPC Standing Committee said it had decided to keep the tax exemption threshold ...

  6. Critics doubt luxury tax will help to narrow wealth gap in Taiwan

    Posted Mar 18th 2011, 12:00am by Lawrence Chung

    ... Lawrence Chung in Taipei With the year-end legislative election and a presidential election next March, the Taiwanese government is pushing a controversial bill that would tax housing transactions and the purchase of private jets and other luxury items. A so-called luxury tax bill aims to contain skyrocketing property prices and reduce a widening income gap. Under the bill, already ...

  7. Raise profits tax to help poor, tycoon says

    Posted Mar 08th 2011, 12:00am by Staff Reporter

    ... Fanny W. Y. Fung in Beijing Local property tycoon Henry Cheng Kar-shun has called on the government to raise the profits tax imposed on companies. He said there was a need to redistribute wealth in Hong Kong and that a moderate rise in profits tax and a levy on developers' income from property sales would do this. The money could be used to help the poor, he said. ...

  8. China introduces property taxes in some cities to cool market

    Posted Jan 28th 2011, 12:00am by Sandy Li

    ... Sandy Li Chongqing and Shanghai have become the first cities on the mainland to impose property tax on high-end apartments. The tax, which will be imposed from today, is aimed at helping the central government crack down on speculation and contain home prices. Chongqing mayor Huang Qifan last night announced the city would levy a 0.5 per cent to 1.2 per cent tax on new luxury ...

  9. VAT invoice trafficking defies death and taxes

    Posted Jan 04th 2011, 12:00am by Staff Reporter

    ... have made a business out of trafficking invoices generated by the mainland's value-added tax (VAT). Since 1994, a sales tax of up to 17 per cent has been levied on the added value to a product, material or service at each stage of manufacturing or distribution. The upshot is the VAT is now the single biggest source of revenue. In the first nine months of last year, tax ...

  10. Applying the brakes

    Posted Feb 25th 2011, 12:00am by Kenneth Ko

    ... Kenneth Ko Worry over the property market on the mainland has prompted the government to introduce a barrage of measures, including its first trial property tax aimed at curbing speculation and reining in soaring prices. Shanghai and Chongqing became the first two mainland cities to levy property tax for mainly high-end and newly purchased second homes, requiring buyers ...




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