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Friday, 24 March 2017
Great news – Primasia Corporate Services Limited is now a Xero Bronze Partner
Hong Kong Updates- Employment
Employment
The District Court in Hong Kong held that it was discriminatory to require an employee to take a pregnancy test and to inform the employer of the result.
The District Court in Hong Kong held that it was discriminatory to require an employee to take a pregnancy test and to inform the employer of the result.
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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email
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Follow us on:
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, 2 March 2017
The Primasia Carvery Evening 2017
Our Annual Carvery Event was held at
the Foreign Correspondents’ Club (FCC) on
28th February.
We had a fabulous evening with around 200 professionals attending
from different industries. Hope to see you all next year﹗
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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
Wednesday, 1 March 2017
The Primasia App is on the Apple Store
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Tuesday, 28 February 2017
China Updates- Tax
A quiet month in China, business and tax changewise.
Tax
Good news for teachers: the existing exemption from Individual Income Tax under Double Tax Agreements has been extended to a wider range of schools.
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Tax
Good news for teachers: the existing exemption from Individual Income Tax under Double Tax Agreements has been extended to a wider range of schools.
***
===================================================================
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
Saturday, 25 February 2017
Hong Kong Updates- Budget
Budget
What should or could have been big news turned into the usual damp squib. Hong Kong’s surplus was once again grossly underestimated. (How hard can it be when, as announced in the budget speech, a tax policy unit is being set up to comprehensively examine Hong Kong’s narrow tax base?)
Personal income tax remains at 15%, and corporate tax remains at 16.5%. Key allowances (personal, married person’s, etc.) remain unchanged.
The new Financial Secretary, like his predecessor, decided in the name of prudence to avoid doing virtually anything with the huge surplus which Hong Kong enjoys year after year. Save, of course, for the now standard populist - or is it condescending? - practice of giving one-off moderate tax rebates.
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What should or could have been big news turned into the usual damp squib. Hong Kong’s surplus was once again grossly underestimated. (How hard can it be when, as announced in the budget speech, a tax policy unit is being set up to comprehensively examine Hong Kong’s narrow tax base?)
Personal income tax remains at 15%, and corporate tax remains at 16.5%. Key allowances (personal, married person’s, etc.) remain unchanged.
The new Financial Secretary, like his predecessor, decided in the name of prudence to avoid doing virtually anything with the huge surplus which Hong Kong enjoys year after year. Save, of course, for the now standard populist - or is it condescending? - practice of giving one-off moderate tax rebates.
***
===================================================================
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
Thursday, 19 January 2017
China Updates- New Foreign Investment Guidelines
New Foreign Investment Guidelines
A new circular on “Expanding the Opening to and Active Use of Foreign Investment” was issued on January 17th, 2017. The Guidelines are a high level set of guiding, strategic, principles to indicate its policy towards foreign investment in the medium term. Key points are:
Liberalisation of financial and accounting sectors, certain manufacturing sectors, and alternative extraction methods for traditional energy sources (e.g. shale).
As with other recent administrative changes in China, an approval system will be replaced by a record-filing system, but this will be for Sino-foreign ventures only, and in the old and gas sector only, presumably on the basis that these areas are under close state control anyway.
Most of the changes announced on January 17th are already included in the latest draft of the revised Foreign Investment Industry Catalogue.
It is also stated that China will open up in an "orderly” manner previously sensitive areas such as telecommunications, education, internet, culture industry, transportation.
Preference will be extended to foreign-invested enterprises supporting the "Made in China 2025" strategy. As one would expect, the sectors to be especially favoured are high-tech, green, logistics and other sectors which China has been trending towards in its policy tilts over recent years. Infrastructure and R&D are also favoured.
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A new circular on “Expanding the Opening to and Active Use of Foreign Investment” was issued on January 17th, 2017. The Guidelines are a high level set of guiding, strategic, principles to indicate its policy towards foreign investment in the medium term. Key points are:
Liberalisation of financial and accounting sectors, certain manufacturing sectors, and alternative extraction methods for traditional energy sources (e.g. shale).
As with other recent administrative changes in China, an approval system will be replaced by a record-filing system, but this will be for Sino-foreign ventures only, and in the old and gas sector only, presumably on the basis that these areas are under close state control anyway.
Most of the changes announced on January 17th are already included in the latest draft of the revised Foreign Investment Industry Catalogue.
It is also stated that China will open up in an "orderly” manner previously sensitive areas such as telecommunications, education, internet, culture industry, transportation.
Preference will be extended to foreign-invested enterprises supporting the "Made in China 2025" strategy. As one would expect, the sectors to be especially favoured are high-tech, green, logistics and other sectors which China has been trending towards in its policy tilts over recent years. Infrastructure and R&D are also favoured.
***
===================================================================
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
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