Primasia Corporate Services Limited: November 2014

Friday, 28 November 2014

China Updates- Foreign Investment Industrial Guidance Catalogue

Similarly (to the Shanghai FTZ relaxations above), the NDRC (the National Development and Reform Commission) issued a revised draft of its catalogue, detailing which industries are encouraged, pen or restricted for foreign investors. The changes mirror those made for the FTZ, and include (affected industries) include steel, refining, paper, cars, electronics, alcoholic beverages, e-commerce and transport.

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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

Thursday, 27 November 2014

China Updates- Shanghai Free Trade Zone & Tax

Shanghai Free Trade Zone (“FTZ”)

Several industries were opened up to foreigners within the FTZ. To enquire whether yours is one of them, please contact us.

Tax

The Ministry of Finance and the State Administration of Taxation issued a circular, to be effective from 1st January 2014 to the end of 2018, giving tax breaks (e.g. reduced rate of CIT of 15%) to “qualified advanced technology services companies”.

Also with retroactive effect (to 1st January, 2014), accelerated depreciation of certain fixed assets is now allowed under Circular 64. This is not really a tax break, but will improve cash flow for companies with qualifying assets by reducing CIT in the early years.

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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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Monday, 24 November 2014

Hong Kong Updates- MPF

New guidelines were issued by the Mandatory Provident Fund Authority (“MPFA”). Registered intermediaries must submit a specified return to the MPFA for each reporting period a return in the specified form (set out in the annexes to the Guidelines).The annual return form shave also been revised. There are also provisions regarding using a mobile app to access the eService.

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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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