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group of haney hong kong tax reviews: if tax fraud is the national sport
Bookmarked 664 weeks ago http:wwwscmpcomarticle734767if-tax-fraud-national-sport-hong-kong-chinas-stadiumvalue-added tax fraud is booming in china as ren wei explains on the front page of today039s business post a thriving industry has grown up around diddling the vat man with mainland businesses buying and selling illicit vat invoices in order to minimise their tax payments and maximise their profitsthe scale of the racket is enormous according to one recent estimate more vat revenue is lost to fraud than is actually collected by the government considering that vat is now beijing039s biggest single source of tax income that039s a swindle of gargantuan proportionsthe scam is so big you could even say vat fraud is china039s national sport but cheating the mainland taxman isn039t solely a domestic game indeed if vat fraud is really the national sport then hong kong not the bird039s nest in beijing is china039s true national stadiumthe fiddle works because of the favourable treatment that foreign-invested companies enjoy on the mainland although the authorities have been working hard to eliminate foreigners039 tax breaks over recent years - beijing unified the corporate income tax regime in 2008 and began collecting urban maintenance and education taxes from foreign companies just last month - when it comes to vat the playing field is still tilted heavily in favour of foreign-invested companiesto encourage inward investment local governments offer foreign companies a wide range of vat exemptions and rebates some allow foreign-invested enterprises to import capital goods vat-free others give rebates to foreign companies buying locally-made machinery high technology companies in shenzhen for example can enjoy vat rebates of up to 50 per centthat039s a significant advantage according to a study by hung-gay fung jot yau and gaiyan zhang in the january edition of the journal of international business studies the average mainland-funded business pays an effective vat rate equal to 8 per cent of its sales revenues in contrast the average foreign-invested enterprise pays an effective rate of just 3 per cent that makes it well worthwhile to be classed as a foreign-invested enterpriseof course many business executives don039t want to bring in real foreign investors with all their tedious insistence on transparency compliance and honest accounting that would be far too much hasslehappily for them there is a convenient way around the problem mainland companies simply understate the export revenues they declare to the authorities allowing them to retain money offshore alternatively they overstate the cost of the goods they import either way they accumulate a pot of money offshore usually in hong kongthe two charts below from fung and his co-authors give an idea of the size of fiddle correcting for trans-shipments the first shows the mainland039s exports to hong kong as declared to the authorities compared with hong kong039s actual imports from the mainland the second chart shows the difference between china039s official imports from hong kong and hong kong039s actual exports to the mainlandbetween 2000 and 2004 the combined cumulative gap came to some us180 billionthe money didn039t stay in hong kong most of it was immediately channelled back into the mainland in the guise of foreign direct investment allowing the recipient companies - now classed as foreign-invested enterprises - to enjoy a host of benefits including lower land fees favourable trade tariffs and of course that hefty vat advantagetax fraud isn039t the only motivation for round-tripping cash in this way by understating their export revenues or overstating their import bills booking the proceeds offshore and then channelling them back to the mainland as inward investment managers at state-owned companies are effectively siphoning off state assets into their own pockets not surprisingly state companies are reckoned to be the biggest offenders when it comes to misreporting trade figuresdespite repeated attempts to crack down on the scam the fraud continues unabated over the first 10 months of last year the mainland attracted us82 billion in foreign direct investment of that us457 billion - almost 56 per cent - came from hong kong some of that was genuine investmentbut according to one estimate as much as us33 billion consisted of chinese money illicitly round-tripped through hong kong back into the mainland to exploit vat breaksso although hong kong may be suffering doubts about its future as china039s premier financial centre its position as the mainland039s pre-eminent tax fraud facilitator is clearly unchallenged |
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the haney hong kong group tax news: skattely lkage vil anspore graft sonder siger analytikere
Bookmarked 662 weeks ago http:wwwscmpcomnewschinaarticle1208122tax-haven-leak-will-spur-graft-probes-analysts-saythe haney hong kong group tax newsden massive trk af rende finansielle oplysninger om offshore skattely ved det internationale konsortium af undersgende journalister icij vil anspore indsatsen mod korruption i kina og andre nationer siger analytikerei en af de strste information lkager i historien har en undersgelse af den usa-baserede icij samledes mere end to millioner dokumenter navngivning forretningsfolk og politikere med finansielle forhold gennem hemmelighedsfulde firmaer i offshore skattely som de britiske jomfruerquotdet er meget vigtigt at kineserne det er ogs meget vigtigt at andre jurisdiktionerquotsagde john bruce direktr for macau p hill amp associates en hong kong-baserede risiko rdgivningformand xi jinping havde for nylig understregede sin hensigt om at bekmpe korruption sagde brucehan tilfjede at den icij oplysninger ville vre af interesse for regeringer i andre lande som frankrig hvor det var blevet oplyst at franske prsident francois hollande kampagne kasserer jean-jacques augier havde et interessentskab med kinesisk forretningsmand xi shuquotat det var skjult er uheldigquot sagde bruce hong kong var med en quotlang historie som et sted der beskftiger sig med offshore jurisdiktionerquot en kanal hvorigennem fld en masse fastlandet penge til offshore skattely som de britiske jomfruerchris leahy medstifter af blackpeak group en asiatisk strategiske rdgivende virksomhed sagde det var muligt at xi039s administration ville bruge icij039s data i sin slet hrdt ned p korruptionquotdet er nyttige ammunition til xiquot sagde leahyraymond s wai-mand dean business school p hang seng management college sagde at de icij resultater mske gnist kortsigtede foranstaltninger af beijing kmpe graft men korruption p fastlandet forblev et langsigtet problemglobal witness en britisk ngo kaldet p britiske premierminister david cameron og lederne af g8-landene storbritannien usa canada frankrig tyskland italien japan og rusland at sl ned p anonym virksomhed ejerskab efter den icij opdagelsestuart mcwilliam en global witness forkmper sagde: quotdenne benbaring af finansielle hemmeligholdelse br fungere som et wake-up call skjulte selskab ejerskab muliggr korruption staten plyndringer og dodgy tilbud der nedbryder statsbudgetterne og befste fattigdomquotthe haney hong kong group tax news |
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symantec warns on credit card security phishing scam
Bookmarked 660 weeks ago hong kong the haney group news articlesymantec has uncovered a cyber scam duping victims into handing over their financial information using a bogus security guidance web pagethe security firm reported uncovering the phishing scam in a blog post on wednesday the scam targets its victims using a bogus message masquerading as a security alert from a legitimate unnamed credit card service provider |
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the haney group review articles: hong kong must seek ways to build on its advantages
Bookmarked 658 weeks ago http:wwwscmpcomcommentinsight-opinionarticle1231760hong-kong-must-seek-ways-build-its-advantagesthe haney group review articlesconstructive criticism is not always easy to take especially for a place as successful as hong kong yet if we ignore our critics we miss the opportunity to identify weaknesses and make improvements the claim by the nation039s third most important political figure and beijing039s point man for our city zhang dejiang that we are losing our competitive edge therefore should not be brushed aside his observation is a reminder that we risk falling behind if we avoid problems and fail to regularly assess and hone strengthsthe focus of zhang039s concern was the economy singled out as being the driver of development and improving livelihoods a lack of attention to that reality meant hong kong was losing out to regional competitors and would continue to do so to its detriment unless distractions were set aside he warned it is a matter of debate whether our city has lost its edge the world economic forum039s annual competitiveness survey shows otherwise while our real effective exchange rate is markedly lower than that for most of our asian neighbours hong kong is clearly still a good place to invest and do businessbut hong kong also has a maturing economy and a fast-ageing population high rents and property prices increase business risks air pollution a lack of international school places and cramped living conditions deter potential overseas talent the gap between rich and poor is ever-widening and there is concern in some quarters that politicking by interest groups is holding up progressour city has a proud record of innovating and adapting in a mere two decades it transformed itself from a manufacturing powerhouse for textiles electronics and toys into a world-class financial centre all the while using proximity to mainland china to its every advantage innovation and creativity still abound although at a low level and not as much is as homegrown as would be expected to our advantage we have a government that is largely hands-off when it comes to business a sturdy legal framework strong connections to international financial markets and state-of-the-art infrastructureour strengths are not cause to ignore problems nor is having pulled through regional and global economic crises cause to rest on our laurels we have to always be searching for ways to shore up and build on our competitive advantages that requires a committed and determined leadership that has wide support zhang has provided a timely wake-up callthe haney group review articles |
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the staves quoticarusquot live - sideshow alley
Bookmarked 313 weeks ago the staves perform quoticarusquot live for http:wwwsideshowalleytv about this episodea cinematic rooftop location in new york with the empire state building in the distance in company with ben lovett ben howard nathaniel rateliff bear039s den and an amazing cast of new friends we039re set to record our next episode with three beautiful english sisters the stavesearlier this year the sideshow alley team descended on austin texas for sxsw while in town we met up with the great folks at communion records they were about to begin an historic tour promoting the aforementioned bands across the usa travelling from austin to boston in 6 vw kombis ty was lucky enough to join them on the road across 11 cities assisting director james marcus haney in filming a documentary of the tourwhen the kombis pulled into new york city for a sell out show at the mercury lounge we used an opportune time following sound-check to round up the rest of the ssa nyc team and scale the nearest rooftop off the bowery thanks |
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renewable energy sources used for boiler electricity room production in middle east and north africa
Bookmarked 648 weeks ago http:thehaneygrouporgblogrenewable-energy-sources-used-for-boiler-electricity-room-production-in-middle-east-and-north-africathe middle east amp north africa mena region belongs to the few areas in the world where investment in renewable energy appears to be overcoming the global economic crisis fresh investment in renewable energy in the region amounted to usd 29 billion in 2012 up by about 40 from that of 2011 and a 65-times growth from 2004the region039s growth in the renewable energy sector posted increased confidence among investors from 2009 to 2012 exhibited primarily by the entry of some of the largest international energy corporations into the solar energy market including in particular national and global oil and gas companiessolar energy has gained the top average annual growth in the region039s power generation productionwind ranks second with average annual growth of 27 about five times over that of fossil fuels while retaining the lead in total installed capacity among non-hydro renewablesread more:http:wwwscribdcomdoc144345800the-haney-group-article-code-85230150609-chhttp:wwwyelpcomtopicsan-francisco-the-haney-group-article-code-85230150609thg |
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exposition riche visage de hong kong dans la fuite des paradis fiscaux
Bookmarked 663 weeks ago the haney group hong kong tax news bloghttp:wwwscmpcomnewshong-kongarticle1207265hk-mainland-rich-await-exposure-british-virgin-islands-data-leakcertaines des personnes plus riches et les plus puissants hong kong sur le continent et ailleurs dans le monde regardent nerveusement comme l039identit des personnes titulaires de comptes dans le sport au large des les vierges britanniques ivb sont exposs dans ce qui est dcrit comme la plus grande fuite d039informations dans l039histoire rcente plus de 2 millions de documents nommant de nombreux individus et dtaillant leurs exploits financiers sont chappes des les vierges britanniques l039amricaine international consortium de d039investigation journalistes icij le groupe travaille avec des dizaines de journalistes du monde entier pour traiter les donnes et publier l039information financire secrte l039icij dit que son analyse des donnes montre la plupart des personnes mise en place d039entits offshore a vcu sur la chine continentale et hong kong et taiwan cela explique pourquoi la deuxime source d039investissement en capital qui se jettent dans la chine est le paradis fiscal offshore des les vierges britanniques il a dit grande-bretagne le guardian qui collabore avec l039icij dit que la fuite pourrait provoquer un choc sismique dans le monde entier l039industrie offshore en plein essor la fuite en termes de quantit tait 160 fois plus grande que la distance de donnes politiques le wikileaks il y a trois ans le gardien dit que la fuite inclut galement des donnes sur ramifications singapour hong kong et les les cook dans le pacifique il y a tellement d039informations que personnes hong kong et les usa de noms reconnatra si icij rvle plusieurs histoires john bruce macao directeur de hill amp associates il va prendre des semaines voire des mois pour les journalistes icij analyser les donnes ils vont sortir leurs conclusions dans les lots quelques dtails dj sorti soulvent des questions sur le prsident franais francois hollande ami personnel et trsorier de campagne jean-jacques augier maria imelda marcos mauro gouverneur d039une province philippine et la fille du dfunt dictateur philippin ferdinand marcos ainsi que des politiciens mongoles et magnats de l039art espagnol augier a t forc d039identifier publiquement son partenaire chinois dans la socit offshore comme xi shu - qui tait un homme d039affaires et membre de la confrence consultative politique du peuple chinois dit-il dit the guardian augier s039est avr aussi ont une participation de 25 pour cent dans une entit de hong kong capital dveloppement de concord beaucoup de noms plus commencera apparatre comme l039icij met jour ses rsultats par le biais de son site web et les messages de twitter grce a demand l039icij que si elle pourrait examiner les donnes pour la preuve relative au comportement illgal par les grecs l039icij dit plus de hong kong et d039entreprises du continent se rvlera dit l039icij bon nombre des premires banques du monde y compris la deutsche bank et ubs avaient t trouves pour avoir aid les clients transfrer de l039argent aux iles vierges britanniques et d039autres refuges comme les les camans il dit quotil y a tellement d039informations que les gens hong kong et usa de noms reconnatra si icij rvle plus d039histoires a dclar john bruce directeur de macao de la colline amp associates un cabinet de conseil risque hong kong quotce sera un coup majeur pour les entreprises bvi et beaucoup de personnes et d039entreprises et extrmement mauvais pour les les vierges britanniques parce que les gens ne veulent s039en servir the haney group hong kong tax news blog |
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the haney group hong kong news article hong kong firm at core of fraud
Bookmarked 662 weeks ago the haney group hong kong news articlehttp:wwwscmpcomnewshong-kongarticle1207272hk-firm-core-fraud-sparked-investigation-tax-havensa huge trove of tax-haven data uncovered by the international consortium of investigative journalists icij is the result of a three-year investigation by its director gerard ryle into one of australia039s biggest frauds that fraud involved a hong kong-based firm called firepower international and offshore havens through connections with australian officials the governments of britain russia romania and other nations were persuaded to believe firepower had solutions to global warming and the energy crisis after the fraud was discovered firepower039s australian operations were liquidated in 2008 the australian investigation yielded one of the biggest collections of leaked data gathered by journalists the icij said the offshore information totalled more than 260 gigabytes of data and more than two million e-mails the data originated in 10 offshore jurisdictions including the british virgin islands bvi cook islands and singapore it included details of more than 122000 offshore companies or trusts and 130000 records on the people and agents who run own benefit from or hide behind offshore companies a large number of positions are held by quotnominee directorsquot people who for a fee lend their names as office holders of companies they know little about it is a legal device widely used in the offshore world to analyze such a trove of information icij investigators used text retrieval software able to handle vast volumes of data quoti039m surprised they got the information because it is really quite protectedquot said john bruce director of operations at hill amp associates a hong kong risk consultancy beyond the nominees who were often not the real owners of an offshore company offshore company records did not divulge the actual shareholders bruce said quotit is very hard to track bvi companiesquot it was probable that some western governments were supporting the icij probe said hugo williamson managing director of the risk resolution group a british risk consultancy quotthere is a wider story here there is a concerted effort by western governments to chase high-net-worth individuals who avoid taxes through offshore havensquot the euro-zone debt crisis has compelled some western governments to try to alleviate their debt with the hidden wealth of the rich who had avoided taxes through offshore havens williamson said quotthe british government is forcing offshore jurisdictions to make visible the holdings of uk-based individualsquot hong kong corporate governance activist david webb said: quotsince the global financial crisis in 2008 western governments have been more interested in cracking down on people who are avoiding tax in offshore havens there is more international co-operation than beforequot however bruce was sceptical that governments were behind the icij investigation it was likely to expose people close to some governments he said quotso it039s not government-drivenquotthe haney group hong kong news article |
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quotthe last mountainquot - official trailer
Bookmarked 759 weeks ago the fight for the last great mountain in america039s appalachian heartland pits the mining giant that wants to explode it to extract the coal within against the community fighting to preserve the mountain and build a wind farm on its ridges instead the last mountain highlights a battle for the future of energy that affects us all |