Savers need educating to put them in a ‘better position’ to boost retirement pot.
China’s super wealthy are looking into overseas trusts to transfer their assets and investments as the government rolls out a new tax plan.
The Hong Kong government will be conducting a comprehensive review of the existing tax concessions applicable to the fund industry, according to Paul Chan, Hong Kong’s financial secretary.
Account holders in Singapore have been told by the taxman to fully cooperate with their financial institutions as they determine the tax residency status of their clients under the Common Reporting Standard (CRS).
Around 11.5 million leaked documents from a Panama-based law firm have exposed the offshore holdings of politicians, sports stars and public officials around the world.
The government intends to temporarily waive a 15.4% capital gains tax on overseas equities funds, according to a Cerulli report.
The research firm gave China a “D” because of high fees, particularly for allocation and money market funds. China’s limitations on overseas investing and restrictions on foreign-domiciled funds were also factors, as well as a relative lack of disclosure. “China was one of a minority of markets where the disclosure of conflicts of interest by advisors […]
Hong Kong and mainland China have agreed to exempt Hong Kong-based investors from double taxation on capital gains derived from investments in Chinas stock markets.
With Shinzo Abe safely ensconced at the head of the Japanese politics for the next four years following a decisive snap election victory for the LDP-Komeito coalition on Sunday, debate now moves on from the outcome to its implications.