As long as Hong Kong remains a financial centre and a free port, it will be an attractive place for money-launderers and tax dodgers. Reputation is everything to a city such as ours, so tight regulation, transparency and diligent policing are important.Tuesday, 30 August, 2011, 12:00am
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 Grace.8 Jul 2011 - 12:00am
There have been media reports of late on how US prosecutors are trying to determine what role financial professionals in Hong Kong play in evasion of US taxes and how the US government has succeeded in penetrating Swiss banking secrecy.20 Dec 2009 - 12:00am
The mainland authorities maintain strict controls on individuals converting yuan into other currencies, to prevent money flooding out of the country in search of investment opportunities. But you would not think so to look at mainland buyers flush with Hong Kong dollars who are driving the prices of luxury residential properties in the city to record levels.11 Oct 2009 - 12:00am
Many Hong Kong residents choose to move abroad upon retirement or at the end of their work contract. The most popular destinations have been the United States, Canada, Australia and the UK. To varying degrees, all these have been affected by the credit crisis and either have or will raise taxes to levels that many think are confiscatory.6 Sep 2009 - 12:00am
Legislators have expressed concern that the proposed law to allow the government to send details on individuals suspected of evading tax to authorities abroad will lead to privacy invasion and data abuse.
Their concerns came as officials introduced the proposed legislative amendment at a meeting of the Legislative Council's financial affairs panel yesterday.5 May 2009 - 12:00am
Life is full of surprises and uncertainties. Just a few months ago Premier Wen Jiabao came out in support of Hong Kong being China's only international financial centre. But recently, the State Council announced that Shanghai should strive to become an international financial centre and international shipping centre, in line with the country's growing economic power, by 2020.11 Apr 2009 - 12:00am
In a bid to attract Muslim investors, Hong Kong is considering modifying its tax laws and has applied to join an Islamic financial standards organisation, according to Financial Secretary John Tsang Chun-wah.16 Jan 2008 - 12:00am
Rise adds to costs also driven higher by new labour law
Foreign companies in mainland coastal regions will greet the new year with a three percentage point rise in income tax to 18 per cent - an unexpectedly high increase that will deal yet another blow to tens of thousands of manufacturers.31 Dec 2007 - 12:00am
How to keep taxman happy but ensure you don't pay too much with your return
Someone told me the other day that taxes and interest rates are the pornography of a good financial newspaper.
If that's the case, then brace yourself for a whole lot of sex in the next few paragraphs.8 Apr 2007 - 12:00am
But local officials say end to preferential rates will spook foreign investors
The proposed corporate income law unveiled by Finance Minister Jin Renqing to National People's Congress delegates yesterday was welcomed by those from business backgrounds for putting domestic and overseas companies on an equal footing.9 Mar 2007 - 12:00am