State council institutional reform: national and local tax administrations of provincial level and below provincial level merger It was announced on March 13 that The State Administration of Taxation and Local Tax Bureau will formally “remarry” after their divorce since 24 years ago. Twenty-four years – which makes up two Chinese zodiac cycles – eventually come back together. On 9 a.m. March 13, the first session of the 13th National People’s Congress held the fourth plenum in the Great Hall […]
The Inland Revenue (Amendment) (No. 6) Bill 2017 (Amendment Bill) The main objectives of the Amendment Bill are to codify the transfer pricing principles into the Inland Revenue Ordinance (Cap. 112) (“IRO”) and implement the minimum standards of the Base Erosion and Profit Shifting (“BEPS”) package promulgated by the Organization for Economic Co-operation and Development (“OECD”). To codify transfer pricing principles into the IRO is a very important legislative motion. Transfer pricing means the pricing policy of the transactions of […]
We are glad to have Mr. Kanzawa and Mr. Murota in our office, and enter the Alliance Agreement with AGS (Japan) on such a beautiful day, just before the CNY 2018.
[Hong Kong] [Regulatory Update] Commencement of Operation of the Companies (Amendment) Ordinance 2018 – Keeping of Significant Controllers Registers of Companies The Companies (Amendment) Ordinance 2018 introduces new requirements on the keeping of significant controllers registers by companies with effect from 1 March 2018. To enhance transparency of corporate beneficial ownership in order to fulfill Hong Kong’s international obligations, the Companies Ordinance (Cap. 622) is amended to require a company incorporated in Hong Kong to obtain and maintain up-to-date beneficial […]