Friday 30 May 2014

China Updates- Labour Despatch

Further to the changes to the rules on updates on labour dispatch in China (covered by our previous newsletters), the Beijing Labour Authority has required employers 10% or more of whose workforce are "dispatched" (effectively, outsourced for management and liability purposes) to submit by 31st August 2014 their plans for reducing (by end-Februart 2016) this percentage.

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Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!

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Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Wednesday 28 May 2014

China Updates- Tax

Tax breaks are being introduced/ extended for star-ups with an emphasis on new entrants to the job market or those already unemployed. Hence, the breaks can be enjoyed by companies started up by graduates or unemployed persons. In addition, existing companies can get a tax break if they hire long-term unemployed (anyone who has been unemployed for a year or more).

The tax breaks are as follows. Businesses set up by graduates or unemployed can get a deduction of up to RMB9,600 p.a. (previously RMB 8,000) from their Corporate Income Tax (CIT) bill. Start-up businesses who employ a long-term unemployed person will get a further CIT deduction of RMB 5,200 per year per position created.

The measure will be in force until the end of 2016.

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Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!

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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
Website: Primasia HK / Primasia China
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Monday 26 May 2014

Hong Kong Updates- MPF

The maximum level of monthly relevant income for Mandatory Provident Fund (MPF) purposes is increasing from HK$25,000 to HK$30,000 with effect from 1 June 2014.

Employees whose monthly relevant income is HK$30,000 or higher will need to pay HK$250 extra per month in mandatory contributions by deduction from salary (and their employers will also have to pay the same higher amount).

Adjustments are also being made to the maximum limits for self-employed persons (increasing from HK$300,000 p.a. to HK$360,000 p.a.).

***
Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!
===================================================================
Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
Website: Primasia HK / Primasia China
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong