Public Finance

Calls for government to cut wealth gap ignore reality

Most Hongkongers see the city's wealth gap as a serious problem and believe the government is doing little to tackle it, according to a Chinese University survey.

SCMP, December 2

But how can government tackle it?

Sunday, 4 December, 2011, 12:00am

Beijing takes aim at big spenders with draft rule

Beijing has drafted a regulation on government spending on cars, receptions and foreign trips in an effort to rid mainland governments of their reputation for wasteful extravagance.

23 Nov 2011 - 12:00am

Paying the price

Some people tied cash to a pear and threw it into the yard of Ai Weiwei's home. Some made planes out of the renminbi notes and 'flew' them into the yard; eight of these planes landed on his lawn. Those who gave money in person queued outside his door.

21 Nov 2011 - 12:00am

Predictable tax system in HK seen as a boon

Hong Kong's tax rate continues to rank as one of the world's lowest, and the city remains one of the easiest places to comply with tax obligations.

11 Nov 2011 - 12:00am

Should tertiary education subsidies be cut in countries like Greece?

Melody Cheung, 16, St Paul's Secondary School

Austerity measures are implemented to cut government spending in a country experiencing financial trouble.

When the governments of Greece and Britain announced they would reduce spending on education, students and teachers took to the street in protest.

8 Nov 2011 - 12:00am

VAT changes seen as easing burden on firms

The central government is set to launch a trial value-added tax for businesses next year, which is seen as a clear signal the leadership wants to support growth by easing the tax burden on business.

28 Oct 2011 - 12:00am

Tax on foreign workers in force only in Beijing

The mainland's controversial new social security tax on foreign workers, which was supposed to take effect across the country on October 15, has come into force only in the capital. But even there, the deadline for registration is still unclear.

24 Oct 2011 - 12:00am

It's panic stations as the debt train starts to pull in

As the signs mount that the nation's economy is slowing, two announcements yesterday show how Beijing is getting increasingly nervous about the debts piled up by different arms of government.

21 Oct 2011 - 12:00am

Japan's budget blind spot

World leaders from Washington to all points in Europe have set alarm bells ringing over the high levels of government debt and the grave consequences for global financial and economic stability. Beijing has also spoken out, and correctly so, about the lethargy of the West in moving from recognising it has a problem to devising a solution.

18 Oct 2011 - 12:00am

Questions about our tax base are crying out for answers

It looks possible, at the moment, that we will have a contested election for chief executive next March with two candidates from the pro-establishment camp hoping to take office in mid-2012.

7 Oct 2011 - 12:00am

Think tank mulls second travel subsidy scheme

An influential think tank has proposed a travel subsidy for long-distance commuters who may not qualify for the HK$600 government subsidy to be launched next month for low-income travellers.

28 Sep 2011 - 12:00am

Beijing may delay new tax on expats

Beijing may again have to delay a new social security tax on foreign workers on the mainland after local governments complained that they had not been given enough time to implement it, said a person briefed by authorities on the issue.

22 Sep 2011 - 12:00am

A taste of things to come

So far the dim sum market has run remarkably smoothly. Much of the issuance though has come from Chinese banks whose ratings almost touch that of the sovereign.

19 Sep 2011 - 12:00am

Tax uncertainty is bad for business

The saying goes that a man is a fool to pay a cent more in tax than he has to. Hence tax avoidance can be legitimate, if tax dodging is not. But 200,000 Hong Kong residents working on the mainland, along with 600,000 foreign nationals, still have a chance to dodge a bullet in the form of a new social security tax, if the government shows a greater sense of urgency about it.

8 Aug 2011 - 12:00am

Tax discounts in western regions to continue

The central government has decided to extend a policy that allows most enterprises in western regions to enjoy big corporate income tax discounts for another 10 years.

6 Aug 2011 - 12:00am