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| Dear Friend of Zetland, |
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| The Chinese New Year approaches and Hong Kong has seen a winter colder than usual, but all are hopeful that this spells a pleasant climate for the Lunar New Year celebration and is an indication of a dynamic year to come. |
| This year the Lunar New Year will take place on Friday 16 February, 2018 and will represent year 4715 in the Chinese calendar. Our offices will be closed on Monday 19 February, which is public holiday in Hong Kong and the Fourth day of the New Year. |
| I want to take this opportunity to wish all of you, from all of us, great success and prosperity in the year of the Dog! |
| In this newsletter we will give an illustrated explanation of CRS (Common Reporting
Standards), fiscal and taxation changes in China that should encourage investment, and explain new regulation in Hong Kong aimed at Transfer Pricing. |
| Please remember, Zetland staff we are available to answer any questions you may have, and to advise you on a correct structure for your business. |
Yours sincerely,
Marcin Galas
Managing Director
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| Illustrations for Automatic Exchange of Information (“AEOI”) in Hong Kong |
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As the Hong Kong Inland Revenue Department has already implemented the local Common Reporting Standard (“CRS”) in 2017 with the first automatic information exchanges to be made by the end of 2018.
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| Transfer Pricing Legislation in Hong Kong |
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On 29 December 2017, the Government of Hong Kong Special Administrative Region (the Government) published in its Official Gazette an amendment bill (Inland Revenue (Amendment) (No. 6) Bill 2017) for further reading at the Legislative Council (LegCo) (Amendment Bill No. 6).
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| Circular 88 Encourages Foreign Investors to Invest in China |
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On December 21, 2017, the Ministry of Finance (MOF), the State Administration of Taxation (SAT), the National Development and Reform Committee (NDRC) and the Ministry of Commerce (MOFCOM) jointly issued a new circular.
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| Banking in the Belize Jurisdiction |
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Even though the financial services sector in the Caribbean is going through significant changes, we continue to offer confidentiality and professional excellence and at the same time ensure that we meet and exceed strict regulatory requirements.
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| Labuan Protected Cell Companies |
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There are more than 40 domiciles globally offering Protected Cell Company structure, including Labuan International Business and Financial Centre (“Labuan IBFC”) offering both conventional and Shariah-compliant Protected Cell Companies.
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