October 17th, 2014
TGS global wins at the International Accounting Bulletin annual awards
TGS Global, the new international network of accounting firms has beat off strong competition to win the “rising star” award. The judges honoured tgs because of its strong global growth …
August 21st, 2014
TGS Asia Pacific Conference hosted in Hong Kong
TGS Asia Pacific Conference was successfully held on 21st August 2014 at the Royal Hong Kong Yacht Club. Delegates from the TGS Global office as well as representatives from member firms in UK, Shanghai, Singapore, Taiwan, Indonesia, Thailand and India …
July 22th, 2014
TGS Global Shortlisted for IAB’s Rising Star Award
TGS Global has been named as a finalist for the “Rising Star Network” Award in the International Accounting Bulletin Awards (IAB) for 2014.
The IAB Awards were first held in 2012 …
July 11th, 2014
TGC Global Ranked 18th Largest International Network
Just 2.5 years after its formation, TGS Global has been ranked as the 18th largest global accountancy network in the 2014 Accountancy Age survey of the top 20 international networks.
July 2nd, 2014
China and Hong Kong Taxation Royalties on Intellectual Properties – new China Trade Mark Laws
The China New Trade Mark Laws became effective on 1 May 2014, significant changes include making available of sound mark applications…
March 13th, 2014
Hong Kong Tax Budget 2014/15
Maintaining Hong Kong as an attractive tax jurisdiction for business in Asia
Financial Secretary John Tsang delivered his second budget speech on 26 February 2014…
March 21st, 2014
TCS Global expands into USA
As of 1st March 2014, TCS Global appointed Gettry Marcus as it’s first member in the United States. Beginning in 2012 TCS Global, the international network of dynamic CPA firms, currently has representation in 48 locations in 28 countries…
December 23th, 2013
TCS Hong Kong First Year Anniversary Celebration Dinner
The first year TCS Hong Kong Anniversary Celebration Dinner was held on Thursday, December 19, at the Bankers’ Club in Landmark, Central …
December 2nd, 2013
Appointment of Julius Chan – Senior Manager
Julius has over 10 years of experience in the profession and has outstanding experience in the audit, from SMEs to publicly listed companies in Hong Kong. He has performed services for clients throughout China as well as in the US, Brazil, Australia and Russia…
November 19th, 2013
TCS Global delegation visited Hong Kong
In advance of the TCS Global Annual Conference which was successfully held in Shanghai 20th -22nd November 2013, a team of delegates from the TCS Global office as well as representatives from member firms in UK, France and Germany visited TCS Hong Kong…
Financial Secretary John Tsang delivered his second budget speech on 26 February 2014.
The revised forecast predicts a HK$12 billion surplus for the year 2013/14, well ahead of the forecast deficit of HK$4.9 billion. Land sales, stamp duty and profits tax remain the major sources of revenue.
A modest improvement in the economy is forecast with GDP growth of 3 to 4 percent for 2014.
The 2014 headline inflation rate is estimated at 4.6 percent.
The government has announced a wide range of proposal to promote the finance sector, including:-
Proposes to issue inflation-link bond worth up to HK$10 billion with maturity of three years.
Proposes to waive stamp duty for trading of all exchange trade funds.
The Financial Secretary remains the profits tax rates unchanged for 2014/15. However, tax concessions and one-off benefits would be continued in 2014/15, including:-
A reduction in salaries tax and tax under personal assessment for 2013/14 of 75 percent, subjects to ceiling of HK$10,000.
A reduction in profits tax for 2013/14 of 75 percent, subject to ceiling of HK$10,000.
An increase in maintaining dependent parent or grandparent allowance.
A waiver of rates for the first two quarters of 2014/15, subjects to a ceiling of HK$1,500 per quarter.
Capital expenditure for 2014/15 will be HK$86 billion, exceeding around HK$70 billion of last year, including:-
Assisting the Airport Authority Hong Kong to press ahead with planning for a three runway system.
As for railways, a total cost of more than HK$10 billion are under construction.
As for the management of municipal solid waste, the government will invest about HK$30 billion in waste recycling and treatment facilities.
Residential property prices have more than doubled since 2008, the government would keep on execute cooling measures to avoid property bubble, including:-
The 2014/15 land sales program includes 34 residential sites capable of providing 15,500 units.
To increase housing land supply with a view to achieve the target of providing 470,000 residential flats in the next 10 years.
For further information, please contact Mr. Kenneth Young, international contact director for our firm in Hong Kong on firstname.lastname@example.org. You can also visit our firm profile and our website www.tcscpa.com.hk.