Also in the news...
Countering sanctions evasion: guidance for freight and shipping
For freight forwarders, carriers, hauliers, customs intermediaries, postal and express operators, and other companies facilitating the movement of goods.
International Compliance Tips for Entrepreneurs Going Global
While expanding across borders can accelerate business growth, it also raises the stakes when it comes to staying legally compliant.
Cutting Administrative Burdens When Trading Abroad
From customs declarations to inventory tracking across borders, the paperwork and compliance requirements can quickly become overwhelming for growing companies.
Temporary agreement between the Swiss Confederation (Switzerland) and the UK on services mobility
Temporary agreement documents and the exchanges of notes extending the agreement.
Decision. UK-Central America committee documents
Decisions, documents and meeting minutes from UK-Central America countries committees.
Foreign Exchange Settlement of Foreign Debt Funds
The Shanghai Branch of the State Administration of Foreign Exchange implemented rules for further promotion of foreign exchange administration reform in the China (Shanghai) Pilot Free Trade Zone (the “SHFTZ”) that took effect on 17 December 2015.
The rules state that enterprises (excluding financial institutions) in the SHFTZ are allowed to make foreign exchange settlement of their foreign debt funds, and the procedures for foreign exchange receipts and payments under current items shall be further simplified.
Trading of Recognised Hong Kong Funds by Individuals
The Ministry of Finance and two other departments jointly issued the Circular on Relevant Tax Policies for the Mutual Recognition of Funds between the Chinese mainland and Hong Kong (the “Circular”) for implementation with effect from 18 December 2015.
The Circular specifies that income from the price margin in trading of recognised Hong Kong fund units by mainland individual investors shall be temporarily exempt from individual income tax for three years from 18 December 2015 to 17 December 2018. It also states that individual income tax shall be withheld and paid by the mainland agents of such Hong Kong funds at a tax rate of 20% for proceeds obtained by individuals from the distribution of recognised Hong Kong funds.