Residential property transactions and many financial products and services would not be subject to the goods and services tax to preserve Hong Kong's competitiveness.
A government source said applying GST to residential property could drive up prices.Wednesday, 19 July, 2006, 12:00am
Small and medium-sized enterprises are worried costs will rise and cash flow will suffer under a goods and services tax.
Cosmetics importer and retailer Mekim said though the tax rate would be 5 per cent, prices might go up by more than that because accounting and administrative costs would rise and it would have to pay GST on shop rents.19 Jul 2006 - 12:00am
Irate housewives, trade unions and consumer leaders decried the Malaysian Inland Revenue Department's move to shame tax dodgers into paying up by visiting their homes accompanied by television crews.
The rights of tax evaders have been trampled on, say the critics.24 Sep 2003 - 12:00am
The pessimism accompanying war, the economy and atypical pneumonia have hardly presented an ideal climate in which Hong Kong owners are keen to put their hands up for horses at auction.2 Apr 2003 - 12:00am
The number of people deferring tax payments due to financial difficulties has increased by five per cent in the past year, according to the Inland Revenue Department.
Salaried taxpayers making monthly payments rose from 9,960 in 2000/01 to 10,410 in 2001/02. However, the number of companies paying instalments fell by 20 per cent, from 3,040 to 2,420 during the same period.3 May 2002 - 12:00am
The Inland Revenue Department is seeking legislators' approval for a $245 million project to enhance its information system and prevent unauthorised access, interception and hacking.
The department said the system would bring in $46.7 million from overcoming system deficiencies and handling increased workloads, and $85 million in additional tax revenue.14 Jun 2000 - 12:00am
A judge yesterday halted an Inland Revenue Department prosecution of a businessman who repaid $11 million tax alleged to have been evaded.
Ha Chiu-ping, 52, denied 20 tax-evasion charges before District Court judge Fergal Sweeney, saying the Inland Revenue had promised not to prosecute him as he had already paid a substantial sum to cover his liability.23 Feb 2000 - 12:00am
Guidelines have been tightened to require more tax assessors to make declarations of interest.
The Inland Revenue Department has broadened the number of officials under the declaration system from 37 to 75 in the wake of the tax chief scandal.
The extra 38 staff include chief assessors, senior assessors and Deputy Collector of Stamp Revenue.20 Aug 1999 - 12:00am
IF YOUR normally amiable bean-counter looks a tad on the fragile side over the next couple of weeks, try and show a little sympathy.
He or she is probably suffering from the effects of a glut of recent late nights, courtesy of the Inland Revenue Department (IRD).21 Jul 1996 - 12:00am
NEW tax commissioner Wong Ho-sang has quickly moved to put his personal stamp on the Inland Revenue Department (IRD).
His message to the corporate and professional community is clear: the IRD will be increasingly vigilant in scrutinising the corporate sector, modelling itself more closely on the Australian and US tax departments.7 Jul 1996 - 12:00am
People who have not paid their tax six months after the deadline will face a 10 per cent surcharge, to be phased in over the next year.
The department now imposes a five per cent charge for late payment, while the further 10 per cent surcharge for tax overdue more than six months is imposed at the discretion of the Commissioner of Inland Revenue.25 Apr 1996 - 12:00am
TAXPAYERS may be forced to foot the bill for losses in expected alcohol duty totalling $500 million since a new system was introduced two years ago with the promise it would be 'revenue neutral'.
The Government has claimed teething problems calculating the new tax may be partly to blame, despite it being trumpeted at the time as a simpler system to its predecessor.4 Mar 1996 - 12:00am
BY the end of every school term, all students receive a report card and appraisal form.
Before Hong Kong hears the last Budget speech of Financial Secretary Sir Hamish Macleod, it is time to give him a report card for his efforts over the past year.
Although concessions pleased a majority of the population, he had not quite delivered on his promises.23 Feb 1995 - 12:00am
A JUDGE yesterday gave property developers the right to take possession of flats in Shamshuipo where residents have protested about being forced to leave their homes.
The Lands Tribunal was told about two-thirds of the tenants still living in the premises had agreed terms with the private company, Siu On Realty Co Ltd.5 Jan 1995 - 12:00am
AS a regular reader, I am surprised at the South China Morning Post report and editorial on the seizure of a doctor's records (December 7). You said the Inland Revenue Department (IRD) entered the clinic 'without notice' to examine the books. I presume you consider it proper that the doctor should be given prior notice.16 Dec 1994 - 12:00am