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Beijing: Understanding Capital Gains Tax Changes

Beijing’s Proposed Tax Changes to the Private Equity Sector 

Who will be taxed?
Taxes will be imposed on those investing in the private equity and venture capital sectors on mainly Yuan-denominated funds.

What is happening and when will it take affect?
Beijing is proposing to raise the tax rate on capital gains up to 40% in six months time. However, as a balancing measure it is being proposed that the current corporate tax within the private equity and venture capital partnership sectors be dropped.

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MPF Policy Changes: Are You Ready?

The Legislative Council of Hong Kong has just passed an amendment to increase the maximum level of relevant income for MPF mandatory contributions. This will be effective from 1 June 2012 onwards. 

For employees that get paid on a monthly basis, the maximum level of relevant income will increase to $25,000 from the original $20,000.  So the maximum contributions will also be increased from $1,000 to $1,250.

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China Eases Profit Tax Rate

Earlier in June, China announced that it would lower foreign investment barriers in an effort to attract outside  investors. The relaxation in regulations for ownership of domestic stocks and bonds is a significant move for China’s financial sector that up until the announcement had been a very restricted market for smaller foreign firms. 

International firms with less than USD500m under management and an operating history of at least 2 years will be allowed to apply for these specialized investment licenses.

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Partnership with AustCham: Small Business – Start Me Up Series Event

We are proud to announce our sponsorship with the inaugural Australian Chamber of Commerce Hong Kong and Macau (AustCham) “Small Business – Start Me Up” Series.

The first event of the SME Series is entitled “From frying pan to fire: A checklist for would-be entrepreneurs” which will take place on the 24th of April.

The event will start at 12:30pm on the 10th floor of Infinitus Plaza, venue sponsored by Compass Offices.

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How to Set Up A Company in Hong Kong

Despite only being 1,104 square kilometers in size, Hong Kong has long established itself as one of the world’s major trading and financial centres.

Ranked as one of the busiest ports in the world and the second largest recipient of foreign direct investment in Asia (after China), Hong Kong’s proximity to, and unique relationship with the PRC has made it the gateway to the Chinese market for more than 150 years.

In addition, being the only offshore trading market for the Yuan, Hong Kong will continue as an attractive location for foreign investment.

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