| | Chinese Edition |
 |
 |
| |
June, 2019 | www.zetland.biz/
|
 |
 |
| Dear Friends of Zetland, |
 |
| I have returned from a recent trip to Singapore where Su Lee Chan is once again in place as managing director of our Singapore office. There is a lot of activity there and we will be adding extra staff over the next few months. Another recent recruit in Singapore is Mr Gee Hee Yong who will be running a new company involved in trading foodstuffs and other commodities under the Zetland banner. I will be giving more details in a future edition of this newsletter. |
| A welcome returnee to Zetland in Hong Kong is Dominik Stuiber who will be taking up the position of director in mid-August. Dominik and his wife have recently had a baby girl and he is taking some parenting time off prior to re-joining us. |
| I attended a seminar in Hong Kong organised by the General Chamber of Commerce on the recently signed Hong Kong/Australia Free Trade Agreement which is featured in the newsletter. While the agreement is a significant achievement (and the government officials were congratulating themselves effusively for merely doing their jobs) I berated them on the lack of a Double Tax Agreement (“DTA”) with Australia. Singapore which has a broadly similar tax regime to Hong Kong has had a DTA in place for almost fifty years. Hong Kong has been negotiating now for a decade with no discernible progress having been made. I hope the officials got the message! |
Yours sincerely,
James C Sutherland
Chairman
|
|
 |
| Hong Kong Entering the Smart Banking Era: 8 Virtual Bank Licenses Granted |
 |
|
Virtual banks have finally arrived in Hong Kong, further developing the city’s smart banking and Fintech industry.
|
 |
|
|
[More...] |
|
| Hong Kong and Australia sign Free Trade and Investment Agreement |
|
|
On March 26, Hong Kong and Australia signed a Free Trade Agreement (“FTA”) and an Investment Agreement (“IA”) (together the “Agreements”), which covers trade in goods and services, and investment in areas.
|
 |
|
|
[More...] |
|
| Singapore and China Free Trade Agreement: How to Reduce Import Duties into China |
|
|
China and Singapore have signed a bilateral free trade deal, which will allow greater market access for Singapore companies.
|
 |
|
|
[More...] |
|
| Change of Physical Presence Requirement in Belize |
|
|
In December 2018, the characteristics of an International Business Company (IBC) in Belize was substantially modified with regards to the definition of resident company.
|
 |
|
|
[More...] |
|
| Ms. Phoebe Luo of Zetland attended the International Trust Law Frontier Forum |
|
|
On April 13-14th, the International Trust Law Frontier Forum was held in Tianjin on the occasion of the 100th anniversary of Nankai University. Ms. Phoebe Luo Jia, General Manager of Zetland Fiduciary Group China, was invited to attend and speak.
|
 |
|
|
[More...] |
|
|
|
 |
| Zetland Tax News |
|
| How to obtain a Tax Residency Certificate in Hong Kong? |
|
|
A Tax Residency Certificate is a document issued by the competent authority in Hong Kong to a Hong Kong resident who requires proof of resident status for the purposes of claiming tax benefits under the Comprehensive Double Taxation Agreements / Arrangement (DTAs).
|
 |
|
| [More...] |
|
|
| China Unveils Special Individual Income Tax Deductions |
|
|
China’s State Bureau of Taxation announced the special individual income tax deductions which was implemented on 1st January 2019, to lower the overall tax burden for certain individuals. The deductions relate to six areas, including children's education, continuing education, health treatment for serious diseases, housing loan interests, rent and elderly care.
|
 |
|
| [More...] |
|
| Upcoming Holidays |
|
|
|
|
|
|
| © 2019 Zetland Fiduciary Group Limited, All rights reserved. |
|