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Tax The People; Asian populists have been spending big on Western-style welfare programs. Now comes the bill.
Byline: George Wehrfritz (With Jonathan Adams in Taipei, B. J. Lee in Seoul, Alexandra A. Seno in Hong Kong, Marites Vitug in Manila and Sonia Kolesnikov-Jessop in Singapore)
Hong Kong financial secretary Henry Tang did something truly remarkable last week: he cut government spending in the city of 7 million for the first time in half a century. His 2005-06 budget shrunk $260 million from last year's tally, with reductions in everything but education and social welfare. Yet the belt-tightening didn't come close to solving Hong Kong's fiscal problem. Despite 8.1 percent economic growth in 2004 and a spike in land premiums paid into public coffers, the government ...
- HONG KONG RANKED AS WORLD'S FREEST ECONOMY.
- News wire article from: AsiaPulse News January 16, 2007 700+ words
...second, followed by Australia. Hong Kong was ranked first in four factors...monetary freedom and labour. Hong Kong's income tax and corporate tax rates are extremely...small, according to the report. Hong Kong's simple business regulation...
- HONG KONG, LUXEMBOURG INK ACCORD ON AVOIDANCE OF DOUBLE TAXATION.
- News wire article from: AsiaPulse News November 5, 2007 700+ words
...Luxembourg residents in Hong Kong are subject to both Hong Kong and Luxembourg income tax. Profits of Luxembourg...are currently subject to income tax there, will also enjoy...under the agreement. "Hong Kong and Luxembourg are both...
- HONG KONG SIGNS AVOIDANCE OF DOUBLE TAXATION PACT WITH VIETNAM.
- News wire article from: AsiaPulse News December 17, 2008 700+ words
...profits earned by Vietnamese residents in Hong Kong are subject to both Hong Kong and Vietnam income tax. Profits of Vietnamese companies doing business through a branch in Hong Kong are fully taxed in both places. Under the...
- Hong Kong - Atonement day.(Brief Article)
- Magazine article from: The Economist (US) February 26, 2000 700+ words
...Kong in late 1997. In 1998, Hong Kong ran up its first big budget...has been busy shrinking it. Hong Kong has no general income tax, only a salaries tax, a corporate...but only the 10,000 richest Hong Kong residents pay it at that rate...
- Tung-tied Hong Kong.(Brief Article)
- Magazine article from: The Economist (US) April 22, 2000 700+ words
...richest one- third of Hong Kong's working population pays income tax, they note, so only...Though many people in Hong Kong do indeed pay no income tax, they do pay indirect...business-minded as Hong Kong. In truth, the tycoons...
- Learning from Hong Kong. (tax policy in Hong Kong is more kind to the wealthy)...
- Magazine article from: National Review Buckley, William F., Jr. April 18, 1994 700+ words
...top earners account for about one-half of income-tax revenue. In Hong Kong, the wealthlest-- who pay only 15 per cent...scale. Even the poorest Japanese pay some income tax. In Hong Kong, up until a few weeks ago, 46 per cent of...
- Don't worry - Hong Kong isn't going to tamper with its capitalist...
- Newspaper article from: The Washington Times September 10, 1996 700+ words
...number of reasons why Hong Kong's capitalist system...Jensen questioned whether Hong Kong would retain its 15 percent personal income tax and 16.5 percent corporate...guarantee that tax rates in Hong Kong will not be adjusted in...
- Belgium clarifies repatriation issues in Hong Kong tax treaty.
- News wire article from: Australasian Business Intelligence May 13, 2005 700+ words
...in its double tax treaty with Hong Kong. It says the profits of a permanent establishment in Hong Kong are exempt in Belgium, provided the arm has contributed some income tax in Hong Kong. It also says the dividends of...
