Search

NEWS
ECONOMY | Staff Reporter, Hong Kong
Published: 14 May 12
370 views


Capital duty to be banished by June 1

It’s another move to grow a faltering economy by telling foreigners that Hong Kong is great for their businesses.

Registrar of Companies Ada Chung said the capital duty currently levied on Hong Kong companies under the Companies Ordinance will be abolished starting June 1.

She said the abolition of the capital duty aims to enhance Hong Kong's attractiveness as a company domicile and its competitiveness as an international business centre.

The abolition of the capital duty is implemented by the Companies Ordinance Order 2012. The Order was made by the Secretary for Financial Services & the Treasury Prof KC Chan to implement the Financial Secretary's proposal in the 2012-13 Budget to abolish the capital duty levied on local companies.

The amendments will be applicable to companies that lodge relevant specified forms concerning incorporation; increases in nominal share capital or the issuing of shares at a premium with the Companies Registry from June 1.
 



Sign up for our newsletter

 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.

Tags: capital duty, Registrar of Companies Ada Chung

LATEST ECONOMY JOBS »
  • No jobs posted on this category.
    PRINT ISSUE »

    Available at news stands now 

    Subscribe Now
    Cash-flush tourists in HK

    48 views

    Is Central Hong Kong a ghost town in the making?

    84 views

    As goes Singapore, so goes Hong Kong?

    69 views

    MOST READ EXCLUSIVES

    See how this startup helps Hong Kong flat-hunters find the right property

    See how this startup helps Hong Kong flat-hunters find the right property

    Hover, click, and rent.

    by STAFF REPORTER
    18 Feb 2014 | 869 views
     

    This Hong Kong fashion startup plans to pocket USD1m in total funding by end-2014

    This Hong Kong fashion startup plans to pocket USD1m in total funding by end-2014

    It just relaunched last year.

    by STAFF REPORTER
    7 Mar 2014 | 656 views

    Sun Life HK's CEO attacks with new business strategies

    Sun Life HK\'s CEO attacks with new business strategies

    Appointed last August 2013, Wim Hekstra is responsible for growing the Sun Life Hong Kong business, which includes both an individual life and an industry-leading Pensions business.

    by STAFF REPORTER
    6 Mar 2014 | 322 views
     
    close Don't Show Again

    STAY INFORMED! Get our free weekly newsletter