Other Briefings
Filing Deadlines for Taxpayers in Hong Kong Approaching
HONG KONG, Mar. 26 – The 2009/10 assessment year for will end on March 31, 2010 and the tax filing season will commence again on April 1, 2010 with the bulk issue of profits tax returns and employer’s returns of remuneration and pensions. This will be followed on May 3, 2010 by a bulk issue […]
Indonesia and Hong Kong Sign DTA
Mar. 24 – Officials from Indonesia and Hong Kong signed the Double Taxation Preventatives Agreement in Jakarta on Tuesday, which both parties hope will spur regional trade as demand from the United States and Europe continues to slow. Signed by Hong Kong’s Financial Secretary John Tsang and Indonesia’s Finance Minister Sri Mulyani, the deal halves […]
Guangzhou Proposes Collective Bargaining Legislation
Mar. 24 – The Guangzhou Federation of Trade Unions has formulated a draft ruling to regulate collective negotiations of labor relationships through legislation. The draft, “Regulations of Guangzhou Municipality for Collective Negotiations for Labor Relationships,” specifically regulates collective negotiations on wages and provides for the comprehensive promotion of industry associations, employers and trade unions in […]
Guangdong Province Adjusts Minimum Wage
GUANGZHOU, Mar. 23 – The Guangdong provincial government has announced that it will adjust the minimum wage levels in the province starting May 1, 2010. All districts across the province are required to follow the new standards. Where conditions permit, the district authorities may raise the appropriate criteria but will not lower the minimum wages […]
Shenzhen Increases SMEs by 26,000
Mar. 22 – Shenzhen reported a rising number of small and medium-sized enterprises created last year after the global financial crisis caused a spate of bankruptcies and factory closures in late 2008. An estimated 26,000 SMEs were established in Shenzhen last year bringing the total number of SMEs in the city to 305,000. According to […]
Paying Tax by Installment in Hong Kong
HONG KONG, Feb. 24 – As the region slowly recovers from the effects of the financial crisis, some business may still be struggling to manage their cash flow. Hong Kong’s Inland Revenue Department allows payment of taxes by installment for taxpayers having financial difficulties. Taxpayers will need to submit an installment application to the agency […]
Online Filing of Profits Tax Return in Hong Kong
Feb. 18 – Hong Kong’s Inland Revenue Department will add to the tax services available under its eTAX program starting April 2010 allowing companies to also submit their profits tax return for 2009/10. A corporation or partnership can file their profits tax return online if they meet the following criteria: Gross income does not exceed […]
Hong Kong Proposes Financial Dispute Resolution Center for Individual Investors
HONG KONG, Feb. 10 – The Financial Services and The Treasury Bureau has submitted a public consultation paper suggesting plans for a Financial Dispute Resolution Center and Investor Education Council in the territory. The Financial Dispute Resolution Center will provide a one-stop service venue for resolving monetary disputes between an individual consumer and a financial […]
