 |
|
|
 |
|
|
|
|
New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
| |
| 29/07 New
Lowtax Editor Column, by Kitty Miv |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu
, Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 19/07 Expats
Turn Backs On US Taxes, Tax-News.com |
| 16/07
Congress Approves US Financial Reform Bill, Tax-News.com |
| 15/07 New
Lowtax Editor Column, by Kitty Miv |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-News.com
Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
| 09/07
Antigua Pursuing Trade Sanctions Against US, Tax-News.com |
| 08/07 New
Lowtax Editor Column, by Kitty Miv |
|
06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 05/07
Australian Mining Tax Agreement Reached, Tax-News.com |
| 02/07 Online
Trading For Expats, Investors Offshore special feature |
| 29/06 EC
To Extend Common System Of VAT, Tax-News.com |
| 28/06
Lowtax Dubai, annual update |
| 25/06 Jersey
Considers Tax Future, Tax-News.com |
| 22/06 VAT
Hiked In UK Emergency Budget, Tax-News.com |
| 21/06 Steady
Progress In TPP Negotiations, Tax-News.com |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
| 14/06 Ethical
Moonshine, Penelope Wise blog entry |
| 11/06 Germany
Purchases Stolen Tax Data Disc, Tax-News.com |
|
08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 07/06 G-20
Shelves Global Bank Tax, Tax-News.com |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 31/05
OECD And EU Strengthen Tax Cooperation, Tax-News.com |
| 28/05
Lowtax Guernsey, annual update |
| 25/05
Lowtax Jersey, annual update |
| 24/05 Lithuania
Summary PBTG Guide, added to Personal Business Tax Guide |
| 21/05
Lowtax Liechtenstein, annual update |
| 18/05 Latvia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 17/05 Offshore
And The Euro, Jeremy Hetherington-Gore blog entry |
| 14/05 IO
Focus: Barbados, Investors Offshore special feature |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
 |
| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
| |
|
| |
| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| |
|
|
Hong Kong Drops GST,
by Mary Swire, for LawAndTax-News.com, Hong Kong 06 December 2006
|
In a surprising about turn, the Hong Kong government said yesterday that it
will abandon plans for a goods and services tax in the face of widespread public
hostility to the idea.
“We have heard clearly a strong opposition to the GST from the public,”
said Financial Secretary Henry Tang Ying-yen on Tuesday. He said that the government
would still put forward ideas for widening the tax base, something that has
been strongly urged on Hong Kong by the IMF and other bodies, but that they
would not include the GST as an option.
Public consultation has showed that people have concerns that a GST would be
inflationary, would be regressive and would discourage tourists.
In October, members of Hong Kong's Legislative Council supported a motion opposing
the introduction of a Goods and Services Tax in the territory. The motion, moved
by Dr Hon Yeung Sum, stated: "That this Council opposes the introduction of
a Goods and Services Tax."
Commenting on the motion at the time, Financial Secretary, Henry Tang told
journalists that: "We are disappointed at the outcome. Actually the biggest
difference between the Government and the Hon Yeung Sum's motion is that the
actual effect of the motion will suffocate further discussion on broadening
the tax base and a Goods and Services Tax. I hope in this incident, that LegCo
members have not misjudged public sentiment nor have they lost a valuable chance
to discuss a very important subject in the community."
He continued: "Actually, there was a lot of discussion today regarding various
different types of taxes. New taxes, for example capital gain tax, progressive
tax or dividend tax and indeed they have raised a number of questions as well
as concern about the GST. This is exactly why we should continue this discussion
and we should continue to consult."
"One of the most talked-about subjects is income disparity that GST might bring.
I think this is a very superficial argument and indeed it may be intentionally
misguided. Because when we launched the GST debate, together we have a large
basket of other compensation and measures to mitigate the effect on lower income
families."
Earlier in October, Director-General of Investment Promotion, Mike Rowse, observed
that: "As regards the consultation on the possibility of introducing a goods
and services tax, it is worth pointing out that the cities and economies with
whom we are most usually seen to be in competition all have a goods and services
tax already."
"For example, at the regional headquarters, regional office level, we would
be normally compared with Singapore, and sometimes to some extent with Sydney.
And both cities have a GST already. For offices covering China, we compete with
perhaps Beijing and Shanghai and of course, the Mainland already has a tax on
goods. I think this has to be seen in that sort of perspective."
He concluded: "Given Hong Kong's many advantages favoured by foreign investors
and our Government's commitment to continuously improve the business environment
here, we think Hong Kong's overall competitiveness will remain strong."
In August, thousands of demonstrators took to the streets of Hong Kong to protest
against the planned tax. The pro-business Liberal Party, which organised the
march, claimed that as many as 10,000 people, including local businesses operators,
traders and retailers took part, although a spokesperson from the police department
stated that the number was closer to 3,000.
Miriam Lau, deputy chairwoman of the Liberal Party argued at the time that:
"This march indicates that a GST would seriously impact trades and businesses
and they are very anxious to tell the government that they do not wish it to
implement it."
.
|
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
TAX-NEWS.COM
Free Tax-News Feed