Primasia Corporate Services Limited: August 2014

Friday, 29 August 2014

China Updates- Shanghai Tax Free Zone

The State Administration of Taxation (SAT) announced measures to support the innovative tax service in the pilot trade free zone. The most important of these is the automatic allocation of a tax registration number through the Internet. This is the first such trail of this.

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

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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email
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Website: Primasia HK / Primasia China
LinkedIn: Primasia
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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

Tuesday, 26 August 2014

China Updates- State Administration of Foreign Exchange (SAFE)

A new State Administration of Foreign Exchange (SAFE) circular (Circular 36 on "Relevant Issues Concerning the Pilot Reform in Certain Areas of the Administrative Method of the Conversion of Foreign Exchange Funds by Foreign-invested Enterprises") came into effect on 4th August 2014. Circular 26 allows increased flexibility to foreign-invested enterprises (FIEs) in some locations in China to convert the foreign exchange in their capital account into RMB (i.e. for use as working capital in the business).

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

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Friday, 22 August 2014

Hong Kong Updates- Privity of Contract

The Contracts (Rights of Third Parties) Bill was introduced to the Hong Kong legislature. If it is passed (i.e. if it becomes an Ordinance), Hong Kong will, like several other common law jurisdictions, have reformed the long-established common law doctrine of "privity of contract".

Rather than pre-empt the legislation, which will likely not be effective until 2015, we will provide more information on the effects of this legislation once it has been passed.

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

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