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  • July 25, 2014
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  1. Business - Commodities - TRADE

    Indonesia to revise mineral export tax rules

    Posted Jul 25th 2014, 01:35am by Reuters

    ... Reuters in Jakarta Indonesia to revise export tax rules on minerals Indonesia will revise its rules on mineral export taxes next month, a senior official said yesterday, paving the way for the country's multi-billion dollar mining industry to rebound after months of lay-offs and stalled exports. Deputy Finance Minister Bambang Brodjonegoro said the new rules on mineral export taxes would ...

    http://www.scmp.com/business/commodities/article/1558534/indonesia-revise-mineral-export-tax-rules
  2. News - Hong Kong - COURTS

    Tax dodger fined more than double the sum he evaded

    Posted Jul 18th 2014, 05:16am by CHRIS LAU

    ... Chris Lau chris.lau@scmp.com Tax dodger fined more than double the sum he evaded An IBM employee has been slapped with a fine of HK$180,000 in court for cheating the taxman out of HK$78,670. Addy Ho Hung-wai was also ordered to perform 240 hours of community service over the false claims he made in his tax filings. Ho, 49, had pleaded guilty on June 25 to six counts of tax ...

    http://www.scmp.com/news/hong-kong/article/1555843/tax-dodger-fined-more-double-sum-he-evaded
  3. News - Asia - AUSTRALIA

    Australian parliament repeals carbon tax, emissions trading scheme

    Posted Jul 17th 2014, 11:18am by Reuters in Sydney

    ... Reuters in Sydney Australia on Thursday became the first country in the world to scrap a carbon tax as the upper house of the legislature also discarded plans for a trading scheme based on emissions The Australian Senate voted on Thursday to scrap the country’s carbon tax and plans for emissions trading, a major victory for conservative Prime Minister Tony Abbott that leaves ...

    http://www.scmp.com/news/asia/article/1555539/australian-parliament-repeals-carbon-tax-emissions-trading-scheme
  4. Business - Economy

    Bank of Japan says recovery, inflation on track as tax rise pain eases

    Posted Jul 16th 2014, 01:15am by Reuters

    ... Reuters in Tokyo Central bank keeps policy steady, sticks to 2 per cent inflation target Japanese recovery on track as tax pain eases The Bank of Japan maintained its stimulus programme ... The central bank slightly cut its economic growth projection for this fiscal year as exports remain weak and household spending tumbled more than expected after a sales tax rise in April. ...

    http://www.scmp.com/business/economy/article/1554973/bank-japan-says-recovery-inflation-track-tax-rise-pain-eases
  5. Business - Economy

    Shanghai plans free-trade zone tax incentive to encourage private equity

    Posted Jul 08th 2014, 01:54am by Daniel Ren

    ... Daniel Ren in Shanghai ren.wei@scmp.com Shanghai tax incentive to benefit private equity Shanghai's free-trade zone plans to roll out a tax incentive to encourage outbound investment ... "The taxation policy is now being made and the national authorities are attaching great importance to it." It would be the first preferential tax policy introduced in the zone, designed ...

    http://www.scmp.com/business/economy/article/1549230/shanghai-plans-free-trade-zone-tax-incentive-encourage-private
  6. News - Hong Kong - POLITICS

    Unpaid property taxes piling up in law firms a risk as Legco delays stamp duty bill, John Tsang claims

    Posted Jul 07th 2014, 05:43am by Patsy Moy, Emily Tsang

    ... risk having to keep an increasing amount in property taxes paid by clients because of a delay in passing legislation to enact a doubling of stamp duty, the financial chief claims. The extra ... it was "undesirable" for law firms to keep a large amount of unpaid tax as there was a risk "some black sheep" could misappropriate it. Junius Ho Kwan-yiu, who runs a law firm, said the biggest ...

    http://www.scmp.com/news/hong-kong/article/1548273/unpaid-property-taxes-piling-law-firms-risk-legco-delays-stamp-duty
  7. Business - China Business - REGULATION

    China tightens tax noose on companies with overseas assets

    Posted Jul 07th 2014, 05:26am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com New legislation requires more information on overseas investments to improve tax collection Mainland firms face tighter rule on income disclosure Beijing has announced a new regulation designed to improve the central government's tax collection from overseas mainland companies, including those controlled in Hong Kong. On Thursday, ...

    http://www.scmp.com/business/china-business/article/1548279/china-tightens-tax-noose-companies-overseas-assets
  8. Business - Banking & Finance - TAX EVASION

    Data exchange to combat tax evasion seen affecting Hong Kong private banks

    Posted Jul 07th 2014, 05:26am by Toh Han Shih

    ... analysts. The Common Reporting Standard is the Organisation for Economic Co-operation and Development's (OECD) and G20's version of the Foreign Account Tax Compliance Act, a United States law designed to combat tax evasion. The standard is due to start on December 31 next year, when financial institutions in participating jurisdictions are expected to collect information on new ...

    http://www.scmp.com/business/banking-finance/article/1548288/data-exchange-combat-tax-evasion-seen-affecting-hong-kong
  9. Business - Companies

    Japanese firms set to invest more despite sales-tax slump

    Posted Jul 02nd 2014, 01:44am by BLOOM

    ... Bloomberg in Tokyo Japanese firms set to defy sales tax slump Japanese companies increased their investment plans more than forecast even as a sales tax rise dented sentiment, potentially ... incentives for corporate spending at home. Resilience in the corporate sector would help buttress an economy estimated to have contracted in the past quarter as the sales tax increase crimped ...

    http://www.scmp.com/business/companies/article/1544551/japanese-firms-set-invest-more-despite-sales-tax-slump
  10. Business - Economy - ECONOMY

    Japan's industrial output rises in May, signalling rebound after tax hike

    Posted Jul 01st 2014, 04:05am by Reuters

    ... of a national sales tax rise, underscoring views the economy will absorb the increase largely unscathed. The 0.5 per cent month-on-month rise compared with the median estimate of a 0.9 per cent increase ... in the summer from the April 1 sales tax rise and spending slump in the current quarter. That rebound could further dampen expectations the Bank of Japan will ease policy again this year, ...

    http://www.scmp.com/business/economy/article/1543897/japans-industrial-output-rises-may-signalling-rebound-after-tax

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