Hong Kong budget for fiscal 2014/15

The 2014/15 HK budget was released earlier in the week and Hong Kong unveiled a modest package of measures for its working class as it tries to ease pressure on its finances while appeasing voters that are increasingly concerned about the city's growing income gap. 


Hong Kong - Canada tax treaty in force

The income tax treaty between Hong Kong and Canada (the "Treaty") first signed on November 11, 2012 has now been formally ratified and is in force as of October 29, 2013.


China unveils fresh measures aimed at boosting economic growth

China's manufacturing and export sectors have been key drivers of its economic growth. However, demand for China's exports has slowed recently, especially from key markets such as the US and Europe.


New China Visa Regulations

As of 1st July 2013, new visa regulations enforced by Chinese immigration law have been put in place for foreigners living in or visiting China.

Most notably are the changes to the F visa class, which was originally used for business purposes has now been changed to non-commercial visits which include scientific, cultural, athletic and educational activities.


China Signs Tax Treaty with The Netherlands

On May 31st 2013, China and the Netherlands signed a new tax treaty in Beijing. The treaty was signed by the Dutch State Secretary of Finance, Frans Weekers, and the Chinese State Administration of Taxation, Li Wang.


Hong Kong 2013-14 Budget

At the end of February, the Hong Kong Government announced its budget proposals for the year 2013-14. With a surplus of approximately HKD $64.9 billion from 2012-13 to spend on this year’s budget, it is believed that the government will focus mainly on boosting growth and employment in Hong Kong.


New Stamp Duty to Target Speculators

The Hong Kong government announced on February 22nd that they will be raising the stamp duty for property once again since the previous real estate policy passed in October last year.


China's Minimum Wage Increase

Since the beginning of 2008, China had implemented a minimum wage system to better protect Chinese workers from being underpaid and overworked. According to Chinese government regulations, it is required that the minimum wage is raised every two years in certain parts of China.


New Stamp Duty on Residential Property for Non-PR Buyers

Starting from October 27th 2012 the Hong Kong Government will implement two new measures through the Stamp Duty Ordinance on residential flats for non Hong Kong permanent residents. The purpose of amending the Stamp Duty Ordinance is seen as a tool to suppress property speculation in Hong Kong.


Are You Covered?

It’s that time of year again, but before you take off on your holidays, did you check if you were fully covered?

In partnership with AIA, Compass Offices have gathered a variety of insurance plans for you to ensure full coverage for you, your family and your staff.



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