http://www.pwchk.com PricewaterhouseCoopers Hong Kong News en-en 2001-2010 PricewaterhouseCoopers http://www.pwchk.com/webmedia/633693587102146926_pwc.gif http://www.pwchk.com http://www.pwchk.com/home/eng/ma_mining_annual_review_2009.html Mergers and acquisitions activity in the mining industry - In 2009, mining mergers and acquisitions saw significant decreases in values and also changes in the characteristics of buyers and sellers. http://www.pwchk.com/home/eng/ma_mining_annual_review_2009.html Wed, 17 Mar 2010 10:35:00 +0800 http://www.pwchk.com/home/eng/chinatax_news_mar2010_6.html The State Administration of Taxation has revised the Double Tax Treaty with Barbados, and concluded the first two Tax Information Exchange Agreements with the Bahamas and BVI. This may have impact to MNCs' holding structures with the special purpose vehicles in these jurisdictions. In this China Tax News, we would like to highlight the developments of China's international tax agreements and share our observations about the trend. http://www.pwchk.com/home/eng/chinatax_news_mar2010_6.html Tue, 16 Mar 2010 10:25:00 +0800 http://www.pwchk.com/home/eng/m&abulletin_ap_ye2009.html Asia-Pacific M&A Bulletin (Year-end 2009): Leading the global recovery. Read this bulletin for our unique perspective on the outlook for M&A activity in the Asia-Pacific region. http://www.pwchk.com/home/eng/m&abulletin_ap_ye2009.html Tue, 16 Mar 2010 10:25:00 +0800 http://www.pwchk.com/home/eng/chinatax_news_mar2010_5.html In this China Tax News, we will highlight the salient points of the Guoshuifa [2010] No.18 "Provisional measures for tax collection and administration of representative offices of foreign enterprises" and share our observations in relation to the new rules on representative office taxation. http://www.pwchk.com/home/eng/chinatax_news_mar2010_5.html Tue, 9 Mar 2010 9:50:00 +0800 http://www.pwchk.com/home/eng/globalwatch_uk_feb2010.html A judgment has been handed down in the Judicial Review of Her Majesty's Revenue and Custom's (HMRC) application of its guidance on United Kingdom tax residency, IR20. http://www.pwchk.com/home/eng/globalwatch_uk_feb2010.html Tue, 9 Mar 2010 9:50:00 +0800 http://www.pwchk.com/home/eng/webcast_cn_tax_mar2010.html In this webcast, we shared with you our observations, insights and suggestions for the tax developments in China affecting non-China tax resident enterprises with business operations or investments in China in order to help you surf through the potential challenges. http://www.pwchk.com/home/eng/webcast_cn_tax_mar2010.html Fri, 5 Mar 2010 15:49:00 +0800 http://www.pwchk.com/home/eng/chinatax_news_mar2010_4.html In this China Tax News, we would highlight the salient points of Guoshuifa [2010] No.19 entitled "The administrative measures for the collection of Corporate Income Tax on non-tax resident enterprises on a deemed basis" and share our observations and suggestions in relation to non-tax resident enterprises' establishments in China. http://www.pwchk.com/home/eng/chinatax_news_mar2010_4.html Thu, 4 Mar 2010 11:21:00 +0800 http://www.pwchk.com/home/eng/hkfrs_news_mar2010.html In this reporting season, a number of the financial reporting issues that have surfaced as a result of the changed economic conditions should be focused on. This HKFRS News addresses six of the likely areas of focus and shares practical insight on each. http://www.pwchk.com/home/eng/hkfrs_news_mar2010.html Thu, 4 Mar 2010 08:49:00 +0800 http://www.pwchk.com/home/eng/pharma_newsletter_mar2010.html This Asia Pacific Pharmaceutical Newsletter includes an overview of the pharma M&A activity in Asia during 2009. We also highlight pricing and reimbursement, regulatory and tax news from the different territories. http://www.pwchk.com/home/eng/pharma_newsletter_mar2010.html Thu, 4 Mar 2010 08:49:00 +0800 http://www.pwchk.com/home/eng/fstp_perspectives_hk_feb2010.html The implications of the Departmental Interpretation and Practice Note No. 46 - "Transfer pricing guidelines, methodologies and related issues" for the financial services industry in Hong Kong. http://www.pwchk.com/home/eng/fstp_perspectives_hk_feb2010.html Tue, 2 Mar 2010 11:06:00 +0800 http://www.pwchk.com/home/eng/webcast_tax_acc_mar2010.html Tax accounting under US GAAP (ie ASC740 aka FAS109), IFRS (ie IAS12) or local GAAP can be a challenging task for even the most sophisticated groups of companies. In this webcast we will explore some of the common pitfalls that many groups in on our experience run into when preparing their tax provisioning calculations. We will provide a summary of the convergence of accounting standards and discuss some of the tax and tax accounting issues they give rise to, and what companies are doing in reaction to these. http://www.pwchk.com/home/eng/webcast_tax_acc_mar2010.html Mon, 1 Mar 2010 17:51:00 +0800 http://www.pwchk.com/home/eng/chinatax_news_jan2010_1.html In this China Tax News Flash, we would like to highlight the key features of Caishui [2009] No. 125, titled "Notice regarding relevant issues on tax credits for foreign income derived by enterprises" and share our observations and comments. http://www.pwchk.com/home/eng/chinatax_news_jan2010_1.html Fri, 26 Feb 2010 12:21:00 +0800 http://www.pwchk.com/home/eng/tax_bulletin_uk_offshore_fund_oct2009.html A new offshore fund taxation regime came into force on 1 December 2009 in the UK. The new regime seeks to provide more certainty and commercial viability for offshore funds to enter into the UK market. http://www.pwchk.com/home/eng/tax_bulletin_uk_offshore_fund_oct2009.html Thu, 25 Feb 2010 14:09:00 +0800 http://www.pwchk.com/home/eng/budget2010_highlights.html The 2010/2011 Hong Kong Budget was presented to the Legislative Council by the Financial Secretary, Mr John Tsang, on 24 February 2010. We are pleased to share with you our Budget highlights, commentary, tax facts and figures, and tax rates card. http://www.pwchk.com/home/eng/budget2010_highlights.html Thu, 25 Feb 2010 2:37:00 +0800 http://www.pwchk.com/home/eng/hktax_news_feb2010_4.html In this Hong Kong Tax News Flash, we discuss the denial of tax relief for costs incurred on the plant and machinery used in cross-border processing businesses by the IRD under import processing arrangements. http://www.pwchk.com/home/eng/hktax_news_feb2010_4.html Tue, 23 Feb 2010 9:21:00 +0800 http://www.pwchk.com/home/eng/tax_account_update_feb2010_1.html In this Tax Accounting Update, we summarises the 2009 year-end top ten considerations and issues for preparers of tax balances. http://www.pwchk.com/home/eng/tax_account_update_feb2010_1.html Tue, 23 Feb 2010 9:21:00 +0800 http://www.pwchk.com/home/eng/chinatax_news_feb2010_3.html In this China Tax News Flash, we will provide the salient points of Circular Guoshuihan [2010] No.46 "Clarification on tax treatments of technology-transfer-related services", and share our insights and observations. http://www.pwchk.com/home/eng/chinatax_news_feb2010_3.html Thu, 11 Feb 2010 14:42:00 +0800 http://www.pwchk.com/home/eng/cn_tp_doc_submission_feb2010.html This article summarises the actions being taken by various tax authorities around China as well our suggested approach in dealing with a request for submission of transfer pricing documentation. http://www.pwchk.com/home/eng/cn_tp_doc_submission_feb2010.html Wed, 10 Feb 2010 14:17:00 +0800 http://www.pwchk.com/home/eng/tax_bulletin_oecd_civ_feb2010.html The OECD has recently published proposals for the granting of tax treaty benefits to funds. http://www.pwchk.com/home/eng/tax_bulletin_oecd_civ_feb2010.html Mon, 8 Feb 2010 15:31:00 +0800 http://www.pwchk.com/home/eng/webcast_value_chain_feb2010.html In this webcast, we explained why an integrated value chain transformation approach is critical to a successful Asia Pacific restructure. http://www.pwchk.com/home/eng/webcast_value_chain_feb2010.html Thu, 4 Feb 2010 13:52:00 +0800 http://www.pwchk.com/home/eng/chinatax_news_feb2010_2.html In this China Tax News Flash, we will provide the salient points of Guoshuihan [2009] No. 694 ("Circular 694") - Clarifications on China's individual income tax treatment of contributions made to enterprise annuity plans established by Chinese employers, and share our insights and observations. http://www.pwchk.com/home/eng/chinatax_news_feb2010_2.html Wed, 3 Feb 2010 18:22:00 +0800 http://www.pwchk.com/home/eng/hkfrs_news_feb2010.html The IASB has exposed revised proposals to amend the measurement of non-financial liabilities (formerly provisions) under IAS 37, "Provisions, contingent liabilities and contingent assets". The revised proposals would change the way most provisions are measured today and will be relevant to almost every entity. http://www.pwchk.com/home/eng/hkfrs_news_feb2010.html Tue, 2 Feb 2010 12:01:00 +0800 http://www.pwchk.com/home/eng/cn_tax_facts_figures_2010.html This China tax facts and figures - 2010 version has been prepared to provide an overview of the taxes levied in the People's Republic of China. http://www.pwchk.com/home/eng/cn_tax_facts_figures_2010.html Thu, 28 Jan 2010 12:08:00 +0800 http://www.pwchk.com/home/eng/cn_outbound_inv_guide_dec2009.html The China outbound investment guide 2009, available in Simplified Chinese only, covers 31 countries / territories from 6 continents which are hot destinations for Chinese investments. http://www.pwchk.com/home/eng/cn_outbound_inv_guide_dec2009.html Thu, 28 Jan 2010 12:08:00 +0800 http://www.pwchk.com/home/eng/hktax_news_jan2010_3.html This Hong Kong Tax News Flash summarises the relevant facts of the Shui On Credit Co Ltd v CIR case, highlights the key findings of the authority at various levels, and discusses a number of noteworthy observations from the Court of Final Appeal's judgment on the application of the general anti-avoidance provision (i.e. section 61A). http://www.pwchk.com/home/eng/hktax_news_jan2010_3.html Tue, 26 Jan 2010 8:51:00 +0800 http://www.pwchk.com/home/eng/fin48_application_funds_jan2010.html This article focuses on the application of ASC 740-10-50 (FIN 48) to funds, SPVs and portfolio companies of funds who are required to prepare accounts based on US GAAP and our experience on what funds are doing to comply with their FIN 48 obligations. http://www.pwchk.com/home/eng/fin48_application_funds_jan2010.html Tue, 26 Jan 2010 8:51:00 +0800 http://www.pwchk.com/home/eng/asia_tax_reform_jan2010.html This report is designed to provide an overview of the major tax reforms that have taken place, or are proposed to take place, in each territory including Australia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand. http://www.pwchk.com/home/eng/asia_tax_reform_jan2010.html Mon, 25 Jan 2010 11:57:00 +0800 http://www.pwchk.com/home/eng/webcast_tp_dipn46_jan2010.html In this webcast, we shared with you key aspects of Hong Kong's newly issued DIPN 46, offered our views on what it means and what we consider taxpayers should be doing in response. http://www.pwchk.com/home/eng/webcast_tp_dipn46_jan2010.html Thu, 21 Jan 2010 15:41:00 +0800 http://www.pwchk.com/home/eng/illustrative_accts_dec2009.html The 2009 version of the Illustrative corporate consolidated financial statements for existing IFRS/HKFRS preparers is for a fictitious listed manufacturing group incorporated in Hong Kong. http://www.pwchk.com/home/eng/illustrative_accts_dec2009.html Thu, 21 Jan 2010 12:53:00 +0800 http://www.pwchk.com/home/eng/hktax_news_jan2010_2.html In this Hong Kong Tax News Flash, we summarises the legislative changes brought by the Inland Revenue (Amendment) Ordinance 2010, discusses the latest proposed safeguards for protecting the confidentiality and privacy of the information exchanged, and provides our comments on the next step forward. http://www.pwchk.com/home/eng/hktax_news_jan2010_2.html Mon, 18 Jan 2010 16:16:00 +0800 http://www.pwchk.com/home/eng/cn_customs_spare_parts_jan2010.html China is slowly throwing off its role as "factory of the world" and becoming an important market in its own right. The new demand for after-sales service can open up major opportunities to differentiate products, create competitive advantages and increase margins. In this "China Customs: Don't get caught on your heels: Why spare parts matter in Asia", we share with you the unique characteristics of spare parts management and the way to improve the spare parts management. http://www.pwchk.com/home/eng/cn_customs_spare_parts_jan2010.html Tue, 12 Jan 2010 16:07:00 +0800 http://www.pwchk.com/home/eng/hktax_news_jan2010_1.html In this Hong Kong Tax News Flash, we discuss the developments on the source issue for profits derived from cross-border processing businesses. http://www.pwchk.com/home/eng/hktax_news_jan2010_1.html Tue, 12 Jan 2010 9:10:00 +0800 http://www.pwchk.com/home/eng/cn_semiconductor_dec2009.html This "China's impact on the semiconductor industry: 2009 update" evaluates the current status of the semiconductor industry in China, assesses geographical and product category demand, reviews shifts in the semiconductor value chain and analyzes three different IC production growth scenarios. http://www.pwchk.com/home/eng/cn_semiconductor_dec2009.html Thu, 7 Jan 2010 18:22:00 +0800 http://www.pwchk.com/home/eng/hkfrs_news_jan2010.html HK(IFRIC)-Int 19 clarifies the accounting when an entity renegotiates the terms of its debt with the result that the liability is extinguished by the debtor issuing its own equity instruments to the creditor (referred to as a "debt for equity swap"). http://www.pwchk.com/home/eng/hkfrs_news_jan2010.html Mon, 4 Jan 2010 16:39:00 +0800