For different commercial reasons, foreign companies (including those incorporated in Cayman Islands, the British Virgin Islands and other “zero or low corporation tax jurisdictions”) may prefer registering themselves as registered non-Hong Kong companies under Part 16 of the Hong Kong Companies Ordinance (Chapter 622) (‘Co Ord’) rather than incorporating a new subsidiary in Hong Kong.
The draft Code on Economic Substance legislation will be published in late April 2019 and education campaign will be conducted in the BVI immediately following the publication of the draft. Similar education campaign may follow in Hong Kong to cater to the Asian market. The final code is expected to be published shortly after the education campaign.
On 1 February 2019, Hong Kong Exchanges and Clearing Limited (“HKEX”) published its consultation conclusions on “Proposed Changes to Documentary Requirements relating to Listed Issuers and Other Minor Rule Amendments” and the related amendments to the Main Board (“MB”) Listing Rules (“MB Rules”) and GEM Listing Rules (“GEM Rules”) (“Rule Amendments”).
Did you calculate the following statutory entitlements based on daily average wage?
Prior to the enactment of new rules in 2010, setting up a Representative Office (“RO”) was an inexpensive entry strategy for foreign companies. However, the new requirements imposed on RO, and the ensuing costs of maintenance, have made RO less attractive as its role is restricted to liaison only. More and more foreign investors therefore would opt for WFOE as their corporate structure.
On 1 January 2019, the new Individual Income Tax Law (the “New IIT Law”) of the People’s Republic of China (“PRC”) will come into effect.
On 27 July 2018, Hong Kong Exchanges and Clearing Limited (“HKEX”) published its consultation conclusions on “Review of the Corporate Governance Code
Overcoming the biggest problems in business often comes down to the simple things. Here are a few simple things you can do to capitalise on your opportunities and reduce your risks.
From 1 August 2018, HKEX will adopt a more robust delisting policy and implement the relevant amendments to the Listing Rules.
On 4 May 2018, Hong Kong Exchanges and Clearing Limited (“HKEX”) published its conclusions from responses to its Consultation Paper on Capital Raisings by Listed Issuers (the “Consultation Conclusions”) and introduced the relevant Listing Rule amendments (“Rule Amendments”).
Employers that have fallen behind with their superannuation guarantee (SG) obligations will have 12 months to “self- correct” under a new amnesty announced late last month.
The Hong Kong Exchanges and Clearing Limited (“HKEX”) on 24 April 2018 published the conclusions to its consultation paper “A Listing Regime for Companies from Emerging and Innovative Sectors”
Single Touch Payroll (STP) – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – comes into effect from 1 July 2018.
With an estimated fiscal surplus of HK$138 billion in 2017-18, the Financial Secretary, the Hon Mr. Paul MP Chan, announced the 2018/19 Hong Kong Budget on 28 February 2018 with visions of diversifying Hong Kong’s economy, investing for the future and caring and sharing. Tricor’s Hong Kong Budget Summary 2018/19 outlines the main proposals and principal tax rates.
The 2018 Fringe Benefits Tax (FBT) year runs from 1 April 2017 and ends on 31 March2018 (“the 2018 FBT year”).
With effect from 1 March 2018 (the “Commencement Date”), Trust or Company Service Providers (“TCSPs”) are required to apply for a licence from the Registrar of Companies (the “Registrar”) to carry on a trust or company service business, and to comply with statutory customer due diligence (“CDD”) and record-keeping requirements.
On 15 December 2017, Hong Kong Exchanges and Clearing Limited (“HKEX”) published its “Consultation Conclusions on The Review of the (GEM) and Changes to the GEM and Main Board Listing Rules” and relevant amendments to the GEM Listing Rules and Main Board Listing Rules (the “Rule Amendments”).
Significant Controllers Register Requirement for Hong Kong-incorporated Companies under the Companies (Amendment) Ordinance 2018
The Companies (Amendment) Ordinance 2018 (the “Amendment Ordinance”) will come into operation on 1 March 2018.
New data breach rules in effect from 22 February 2018 place an onus on business to protect and notify individuals whose personal information is involved in a data breach that is likely to result in ‘serious harm’.
A light-hearted look at the complexity of Australian taxation laws.
Welcome to the September 2017 edition of Tricor Roots InTouch. This Newsletter is aimed to keeping our Clients, Partners & Associates updated on what is happening in the world of Performance, Governance, Risk & Compliance (GRC).
The Cayman Islands Government has recently passed new legislation requiring Cayman Islands companies to maintain a beneficial ownership register which records details of their beneficial owners.
Tricor e-vote app, Tricor Malaysia’s latest investor services (IS) innovation, Went live in Apple App Store and the Google Play Store in May 2017. We can now conduct poll voting using our in-house developed e-vote app at clients’ general meetings.
Tricor Group (Tricor) is Asia’s leading provider of integrated business, corporate, investor services, human resources & payroll solutions. As a business enabler, Tricor provides outsourced expertise that allows our clients to concentrate on what they do best – building a business.