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  • August 21, 2014
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  1. Comment - Insight & Opinion

    Domestic challenges block path to Asia-Pacific growth

    Posted Aug 07th 2014, 05:27am by Shamshad Akhtar

    ... short-term stimulus and to remove domestic structural constraints. It is also vital to make growth more inclusive and environmentally friendly. Unlocking fiscal space calls for strengthening of tax revenues. In several countries in the region, tax-to-GDP ratios are near single digits. They are 25 to 35 per cent or more in developed countries. The good news is that tax-to-GDP ratios can ...

  2. News - World - AUSTRALIA

    Tony Abbott tries again to repeal carbon tax with Senate shake-up due

    Posted Jun 23rd 2014, 09:12pm by BLOOM

    ... Bloomberg in Sydney Abbott in new bid to axe carbon tax Australia's conservative government yesterday reintroduced a bill to repeal a carbon tax ahead of a shake-up in the Senate, which has previously rejected the levy's removal. "Repealing the carbon tax will reduce the cost of living, make jobs more secure and improve the competitive position of our ...

  3. Comment - Insight & Opinion - LEADER

    Shinzo Abe's three arrows are looking badly blunted

    Posted Aug 17th 2014, 04:25am by SCMP Editorial

    ... programme in March, and a sales tax increase in April. The latter took a heavy toll on second-quarter consumption as households brought forward big-ticket spending to the January-March quarter, when the world's third largest economy grew by an annualised 6.1 per cent. The sales tax increase from 5 per cent to 8 per cent raises revenue to service Japan's massive public debt. Abe has to decide ...

  4. News - Hong Kong - POVERTY

    Hong Kong General Chamber of Commerce says no to payments for retirement scheme

    Posted Aug 20th 2014, 04:14am by Phila Siu

    ... Phila Siu phila.siu@scmp.com Business chamber rejects extra tax on firms and says government should foot bill to help poor Bosses say no to payments for pension scheme One of Hong ... HK$10 million pay additional profits tax of 1.9 per cent for injection into a pension pool. It said the government should also contribute HK$50 billion. The FTU proposed that both bosses ...

  5. News - Hong Kong - PENSIONS

    Proposed HK$3,000-a-month pension 'could be cut in tough economic times'

    Posted Aug 21st 2014, 12:35pm by Phila Siu

    ... the proposal, every permanent resident that is 65 or above – rich or poor – would get a pension of HK$3,000 a month without a means test. The pension would be funded in part by a new payroll tax ranging from 1 to 2.5 per cent of employees’ salaries, paid by both employers and workers. The government would need to inject an initial HK$50 billion but an additional profits tax – as groups ...

  6. Business - Companies

    EU to probe Apple’s Irish tax shelters

    Posted Jun 11th 2014, 10:33am by Reuters

    ... Reuters in Dublin The European Commission will launch a formal investigation on Wednesday into Apple’s tax arrangements in Ireland, Irish state broadcaster RTE reported, without naming its source. The European Union’s competition authority said last year that it was looking into corporate tax arrangements in several member states and had requested information from Ireland. Irish ...

  7. Business - Companies - GAMING

    Wynn Macau first-half profit down 1.24pc

    Posted Aug 21st 2014, 09:40am by Enoch Yiu

    ... HK$758.02 million. Operating costs rose 9.32 per cent to HK$12.32 billion, from HK$11.27 billion, driven by higher gaming taxes and staff costs. Gaming taxes and premium increased by about 7.7 per ...

  8. Comment - Letters

    What's being said on scmp.com

    Posted Aug 17th 2014, 04:25am by LETTERS

    ... On report, " Don't get burnt on hot money flowing into Hong Kong, investors warned ", August 12: HK-Explorer- The Hong Kong government, like all others, should promote stock market investment. Not for quick games, but long-term wealth generation retirement and child education. These should be tax deductable. This will smooth out peaks and troughs. Dai Muff- The HK ...

  9. Business - Economy - ECONOMY

    BOJ upbeat on outlook, despite weakness in exports and output

    Posted Aug 08th 2014, 04:21pm by Reuters

    ... Reuters in Tokyo Central bank says effect of sales tax subsiding as jobs and income pick up BOJ upbeat on recovery despite weak exports The Bank of Japan maintained its view ... to offset the pain from a sales tax rise in April. Bank governor Haruhiko Kuroda remained upbeat about the outlook for the economy, underscoring the central bank's conviction that no fresh ...

  10. Business - Economy

    Rebound in exports lifts Japan's economic hopes

    Posted Aug 21st 2014, 01:28am by Reuters

    ... the data showed. Japan's exports have struggled for much of this year because of weak demand in Asia, so evidence of a recovery suggests the economy will rebound from a sales tax rise ... the rise in sales tax. Exports also fell in the second quarter, showing that both domestic and external demand weakened. Economists expect Japan's gross domestic product will grow about 4 per ...




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