RUN YOUR MACAO COMPANY – CORPORATE TAXATION

Macao adopts a simple and low tax system.   Macao taxes can be can be classified into direct and indirect  taxes.    Direct  tax  includes  industrial  tax,  complementary  (profits)  tax,  professional  tax, property tax.   Indirect tax includes excise tax, consumption tax, tourism tax and stamp duty. The  fiscal  year  in  Macao  is  calendar  year.  The  Director  of…

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3 TIPS YOU MUST KNOW ABOUT OPENING A HONG KONG BUSINESS COMPANY ACCOUNT

As mentioned above, since the international community has stepped up its efforts to combat money laundering, terrorist financing and tax evasion in the past few years, banks have been required to comply with more stringent international regulatory requirements and it has become much more difficult to open business accounts. As a small business or a…

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NEW CHANGES TO THE COMPANIES ORDINANCE – SIGNIFICANT CONTROLLER REGISTER

The Companies (Amendment) Ordinance 2018 (“the Amendment Ordinance”) introduces new requirements on the keeping of significant controllers registers by companies. The Amendment Ordinance has commenced operation on 1 March 2018.  This article will give a brief introduction of the newly enacted Division 2A, Part 12 of the Companies Ordinance, cap. 622 relating to the significant…

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