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Industry News - 2011
21 December 2011
HONG KONG IS THE NO. 1 FINANCIAL CENTREHong Kong ranked as the number 1 financial centre out of 60 countries in The World Economic Forum’s (WEF) Financial Development Index. Hong Kong…
Read More21 December 2011
HONG KONG AS THE DIVORCE CAPITAL OF ASIA?A recent string of high profile divorce cases in Hong Kong has left no doubt that Hong Kong, like London, is fast become a divorce mecca for the sup…
Read More08 December 2011
UK TAX AVOIDANCE INITIATIVESThe Treasury Chief Secretary, Danny Alexander, announced at the Liberal Democratic conference in September that the HM Revenue and Customs ( “ HMRC…
Read More08 December 2011
SINGAPORE IMPOSES ADDITIONAL STAMP DUTYThe Singapore government has imposed an additional 10% stamp duty on foreigners and companies buying private residential property which took effect …
Read More01 December 2011
The New Social Insurance Law in China for Foreign EmployeesChina’s new Social Insurance Law (SIL) took effect on 01 July 2011 which aims to ensure foreign employees more rights to improve overall social we…
Read More30 November 2011
PHILIPPINE BUREAU OF INTERNAL REVENUE DEFERS TAX MEMOThe Bureau of Internal Revenue (BIR) of the Philippines has recently deferred for another year the implementation of its controversial Revenue Memor…
Read More02 November 2011
SOURCE OF AGENCY PROFITS - LI & FUNG (TRADING) LIMITED AND COMMISSIONER OF INLAND REVENUEThe judgment of the Court of First Instance in the case of Li & Fung (Trading) Limited v Commissioner of Inland Revenue was delivered by the Hon Rey…
Read More28 October 2011
Double Taxation Agreements - UpdateHong Kong has not signed any further comprehensive agreements for the avoidance of double taxation with its trading parties since June 2011. The …
Read More14 July 2011
UK Coalition Government proposes statutory test of tax residency in the UKThe Foreign Account Tax Compliance Act (FATCA) was enacted on March 18, 2010, by the US Government as part of the Hiring Incentives to Restore Emplo…
Read More14 July 2011
The Foreign Account Tax Compliance Act (FATCA)The Foreign Account Tax Compliance Act (FATCA) was enacted on March 18, 2010, by the US Government as part of the Hiring Incentives to Restore Emplo…
Read More14 July 2011
Singapore/SpainInvesting from Spain - Use of a Singapore Holding Company On April 13, 2011, Singapore and Spain signed an agreement regarding the avoidance of dou…
Read More05 July 2011
Double Taxation Agreements - UpdateNew Treaties As of June 7 2011 Hong Kong has signed 21 comprehensive agreements for the avoidance of double taxation with its trading parties. Th…
Read More22 June 2011
UK Coalition Government proposes statutory test of tax residency in the UKThe UK Coalition Government provided good and bad news in its two consultations paper issued on 17 June 2011. The first relates to the remittance basi…
Read More24 March 2011
Hong Kong and Portugal Sign Tax PactHong Kong today (March 22) signed an agreement with Portugal for the avoidance of double taxation and the prevention of fiscal evasion with respect …
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