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24-Jan-2013

A total of 316 overseas and Mainland companies set up or expanded in Hong Kong in 2012, up 4% over a year ago, Invest Hong Kong said today.
Announcing the department's annual results, Director-General of Investment Promotion Simon Galpin said these 316 companies plan to employ 2,937 people in Hong Kong in their first year of set up or expansion, an 8% increase on the previous year.

14-Jan-2013

More than 2,000 finance leaders from more than 40 countries and territories, and across the spectrums of politics, business and academia, are participating in the Asian Financial Forum.
Since its 2007 launch, the forum has evolved into a premier financial event in Asia, with this year's gathering offering a valuable platform for financial luminaries to discuss international financial trends and Asia's role in fostering long-term economic advancement for all.

14-Jan-2013

Hong Kong and Italy have signed an agreement for the avoidance of double taxation and the prevention of income tax evasion.

13-Jan-2013

A record high of 150,165 new local companies were registered with the Companies Registry last year, with an average of more than 12,500 local companies incorporated each month.

13-Jan-2013

A record high of 150,165 new local companies were registered with the Companies Registry last year, with an average of more than 12,500 local companies incorporated each month.
According to the registry's annual statistics released today, by the end of 2012, the total number of live local companies registered under the Companies Ordinance stood at 1,044,644 - up 88,252 from 956,392 in 2011.

11-Nov-2012

Secretary for Financial Services & the Treasury Prof KC Chan today signed an agreement with Canada for double taxation avoidance and fiscal evasion prevention with respect to taxes on income on behalf of the Government.
 
Chief Executive CY Leung and Canadian Prime Minister Stephen Harper witnessed the signing ceremony.
 
It is the 26th comprehensive avoidance of double taxation agreement concluded by Hong Kong with its trading partners.

07-Nov-2012

An agreement between Hong Kong and Switzerland for the avoidance of double taxation with respect to income taxes has entered into force, the Financial Services & the Treasury Bureau said today.
The agreement was signed in October last year, and came into force on October 15 after the completion of ratification procedures on both sides.
In Hong Kong, the agreement will apply to any year of assessment beginning on or after April 1 next year.

http://www.news.gov.hk

30-Oct-2012

A company that transfers residential property to its subsidiary on or after October 27 and then sells the subsidiary’s shares to a non-associated body corporate or person within two years will have to pay stamp duty on it, the Government says.
 
It was responding to press queries concerning a developer’s attempt to circumvent a new stamp duty by transferring residential property to its subsidiary, and then transferring these shares to a non-Hong Kong permanent resident buyer.
 

29-Oct-2012

Islamic finance bill set for 2013

The Government is finalising a bill that will provide a taxation framework for Islamic bonds, or sukuk, that it hopes to introduce to the Legislative Council in early 2013, the Financial Services & the Treasury Bureau said today.

28-Oct-2012

Stamp duty must apply to all companies

 Secretary for Transport & Housing Prof Anthony Cheung said local companies should not be exempted from the Buyer’s Stamp Duty since there is no mechanism to prevent non-permanent Hong Kong residents from using local people to form a company to evade the new duty.

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