Other Briefings
Hong Kong to Send Rebates to 500,000 Taxpayers
HONG KONG, May 31 – An estimated 500,000 taxpayers in Hong Kong will receive rebate checks in September while 800,000 taxpayers may not need to pay taxes for the year, according to the Hong Kong Financial Secretary John Tsang. He spoke during a radio show last Saturday adding that he was assured that recent relief […]
China Sector Watch: Automobiles
This ongoing series takes an in-depth look at the industries that are shaping the Chinese economy today. By Joyce Roque May 29 – It was in 1901 that automobiles first came to China, mostly in the streets of Shanghai. Then, automobiles were usually imports from America and used by foreigners. During that time, China did […]
Hong Kong Adds HK$16.8 Billion to Stimulus Plan
May 27 – Yesterday the Hong Kong Special Administrative Region (HKSAR) announced its package of tax cuts, fee waivers and spending amounting to HK$16.8 billion to ease the effects of the global economic crisis. The plan includes the waiver of business registration fees, salary tax cuts and two quarter suspension of property rates. This brings […]
Shenzhen Plans to Expand Economic Zone to Include the Whole City
SHENZHEN, May 22 – The local government has proposed a plan to expand its special economic zone (SEZ) to encompass the whole city as a way to boost its competitiveness during the downturn. If the proposal pushes through, the Bao’an and Longgang districts will become part of the SEZ thus growing the area from 395.81 […]
CEPA VI Continues Economic Liberalization between Hong Kong and the Mainland
By Joyce Roque HONG KONG, May 20 – Officials from the Chinese mainland and Hong Kong signed the latest supplement to the Closer Economic Partnership Arrangement (CEPA) last May 9 to further ease economic activities between the two. The agreement is set to take effect on October 1, 2009. CEPA VI’s measures aims to improve […]
Hong Kong Extends Online Filing of Tax Returns
HONG KONG, May 19 – Hong Kong’s Inland Revenue Department (IRD) has extended the online filing of tax returns to June 4 to encourage more people to use the service. “As a one-month period is allowed for filing individual tax returns, the deadline falls on June 4 this year,” the Commissioner of Inland Revenue, Alice […]
Hong Kong Clarifies Rule on Double Tax Relief
HONG KONG, May 18 – The Hong Kong Inland Revenue Department has released details on Departmental Interpretation and Practice Notes No.45- “Relief from Double Taxation due to Transfer Pricing or Profit Reallocation Adjustments” (DIPN45) last April 30. The DIPN45 clarifies the procedure for companies wanting to seek double tax relief for transfer pricing or profit […]
China Approves Taiwan Straits Economic Zone
May 5 – China’s State Council has approved the development of an economic zone on the western side of the Taiwan Straits with Fujian Province at its hub and linking it to the Pearl River Delta and the Yangtze River Delta. This could mean that Fujian will get more policy support from the central government. […]
