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Invest Hong Kong, the territory's inward investment promotional agency, has encouraged Mainland Chinese companies to establish corporate treasury centers in Hong Kong following the latest changes to the city's tax code. Read Full Story
Seven Republican members of the US Senate Finance Committee have written to Treasury Secretary Jack Lew adding their voices to those of other lawmakers and businesses who have urged modifications to the proposed debt-equity regulations and an extension to their comment period. Read Full Story
On June 3, the Hong Kong Government gazetted the Inland Revenue (Amendment) (No. 2) Ordinance 2016, which enables the deduction of interest payable on money borrowed by a corporation carrying on an intra-group financing business in Hong Kong, and introduces a concessionary 8.25 percent profits tax rate for qualifying corporate treasury centers. Read Full Story
Singapore's 2016 Budget, released on March 24, includes measures to support businesses to expand and enhances finance sector, treasury management, and international trade tax incentives. Read Full Story
In his 2016 Policy Address, Chief Executive Leung Chun-ying announced a broad range of initiatives to consolidate and expand Hong Kong's role as a major international financial center. Read Full Story
In his 2015-16 Annual Budget, announced on February 25, Hong Kong's Financial Secretary John C Tsang proposed a number of tax relief measures intended to preserve longer-term economic stability and provide a short-term boost. Read Full Story
While Financial Secretary John Tsang put competitiveness as the theme of his 2014/15 Budget, a significant portion of his speech looked at the maintenance of Hong Kong's healthy public finances in the face of increased spending on education, social welfare and healthcare. Read Full Story
The South African National Treasury has published for public comment the draft 2013 Taxation Laws Amendment Bill, which will give effect to most of the tax proposals announced in the 2013 Budget. Read Full Story
The UK's Supreme Court has come down on the side of the taxpayer in a long running dispute over the right to recover wrongly paid tax, but the referral of the case to the European Court of Justice has led KPMG to warn that a conclusive victory remains elusive. Read Full Story
The UK government has performed a u-turn on one of its more controversial Budget measures, the unpopular 'pasty tax', announcing that the planned introduction of value-added tax on hot baked goods will no longer go ahead. Read Full Story
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