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  • August 27, 2014
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  1. Comment

    Hong Kong should reform its tax structure to redistribute wealth

    Posted Aug 27th 2014, 11:53am by DAVID LUI

    ... David Lui David Lui says to negate rising social discontent, Hong Kong needs to rethink its tax philosophy and include in its budget an explicit equality goal Mind the gap Recently, Juzhong Zhuang, deputy chief economist at the Asian Development Bank, wrote in the Financial Times that Asia needs higher taxes to help its poor to prosper. More than 80 per cent of Asians live ...

    http://www.scmp.com/comment/article/1581091/hong-kong-should-reform-its-tax-structure-redistribute-wealth
  2. Comment - Insight & Opinion

    Hong Kong must not allow its tax policy to be used as a political weapon

    Posted Aug 26th 2014, 12:05pm by ARTHUR LAFFER

    ... Arthur Laffer Arthur Laffer says any efforts to tinker with it, to pander to special interests, should be resisted Hong Kong's sensible tax structure should remain an example to others I have oft cited Hong Kong's long-standing flat-rate income tax structure as a successful policy which, if implemented in the US, could dramatically improve the US economy. ...

    http://www.scmp.com/comment/article/1580757/hong-kong-must-not-allow-its-tax-policy-be-used-political-weapon
  3. News - Hong Kong - WELFARE

    Sales tax mooted to fund pension for all

    Posted Aug 25th 2014, 05:31am by TIMMY SUNG

    ... Timmy Sung timmy.sung@scmp.com Commission on Poverty member says reviving the idea of a goods and services tax can pay for proposed HK$3,000 per month subsidy Tax on sales mooted to fund pension for all A member of the government's Commission on Poverty has suggested a goods and services tax could be used to fund a new public pension scheme, instead of a further tax ...

    http://www.scmp.com/news/hong-kong/article/1580448/tax-sales-mooted-fund-pension-plan
  4. News - China - ECONOMY

    Cut taxes to boost the economy, urges China's second richest man Zong Qinghou

    Posted Aug 25th 2014, 03:35pm by Kathy Gao

    ... calls for tax cuts The mainland's second-richest man, Zong Qinghou, has urged the government to cut taxes and spending to boost economic growth, according to a financial news site. "Many small- and medium-sized enterprises cannot survive without tax evasion, which has led to 20 per cent of businesses paying 90 per cent of the nation's taxes," Sina's ...

    http://www.scmp.com/news/china/article/1580537/chinas-second-richest-man-zong-qinghou-tells-government-tax-cuts-will
  5. Sport - China - BOXING

    I didn't hide anything: 'Honest' Manny Pacquiao wins tax reprieve

    Posted Aug 25th 2014, 02:14pm

    ... against the Philippines tax authorities, giving him a boost ahead of his next title fight against American Chris Algieri in Macau in November. The eight-time world division champion has been waging a year-long war with Philippines authorities on charges of tax evasion, even though the 35-year-old Filipino insists his income taxes have been fully paid in the United States. Pacquiao ...

    http://www.scmp.com/sport/china/article/1580529/manny-pacquiao-dismisses-chris-algieri-threat-macau
  6. Business - Money - STOCKS

    Unclear tax rules and quotas may hinder through train

    Posted Aug 25th 2014, 03:34am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Institutional investors, especially those that already use other schemes, are also put off by daily quotas and tight settlement requirements Tax rules may hinder through train Unclear tax rules, daily quotas and restrictive settlement arrangements could derail the upcoming through train stock scheme as international institutional investors hesitate ...

    http://www.scmp.com/business/money/markets-investing/article/1580419/unclear-tax-rules-and-quotas-may-hinder-through
  7. Comment - Insight & Opinion

    Debate on a universal pension highlights need for tax reform

    Posted Aug 23rd 2014, 02:41am by SCMP Editorial

    ... SCMP Editorial Pressing need for tax reform A pension scheme that gives everyone HK$3,000 a month sounds too good to resist. But opinion sways as soon as it comes to the big question- who ... the government-commissioned study sees it differently. Having examined the existing regime, Professor Nelson Chow Wing-sun and his team concluded that there is a need for a new tax of up to 2.5 per cent to finance ...

    http://www.scmp.com/comment/insight-opinion/article/1579597/debate-universal-pension-highlights-need-tax-reform
  8. News - Hong Kong - SOCIETY

    New tax of up to 2.5pc proposed to fund HK$3,000 a month pension for all Hongkongers

    Posted Aug 20th 2014, 07:07pm by Phila Siu, Shirley Zhao and Emily Tsang

    ... but an additional profits tax- as groups such as the Federation of Trade Unions proposed- would not be required. The study was headed by University of Hong Kong academic Nelson Chow Wing-sun. "If ... on Poverty yesterday. Under the suggested "payroll old age tax", those earning less than HK$10,000 a month and their employers would contribute 1 per cent of the worker's salary. ...

    http://www.scmp.com/news/hong-kong/article/1577784/study-recommends-monthly-hk3000-pension-tackle-elderly-poverty-crisis
  9. Business - Economy - JAPANESE ECONOMY

    Japan economy shrinks 6.8 per cent, most since tsunami, as tax rise bites

    Posted Aug 13th 2014, 09:56am by Reuters

    ... Reuters in Tokyo Contraction is biggest since 2011 earthquake, but government takes a relaxed view Japanese economy shrinks as tax rise hits Japan suffered its biggest economic contraction since the March 2011 earthquake as a sales tax increase took a heavy toll on household spending in the April-June quarter, stoking fears that any rebound may be too modest to sustain a solid ...

    http://www.scmp.com/business/economy/article/1572651/japan-economy-shrinks-tax-rise-bites
  10. Comment - Letters

    What's being said on facebook.com/southchinamorningpost

    Posted Aug 24th 2014, 03:43am by LETTERS

    ... On a proposed tax of up to 2.5 per cent to fund a HK$3,000-a-month pension for all Hongkongers over 65: Michael Tomkins- Of course the rich and middle class would opt out of the tax immediately. Funded by the poor only, the tax wouldn't be able to put out what it had promised, and would collapse. Nicholas Tam- Once a small amount of welfare is offered, very quickly people ...

    http://www.scmp.com/comment/letters/article/1580136/whats-being-said-facebookcomsouthchinamorningpost

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