Viewpoints from Kaizen

Tax Guide to Taiwan Share Transfer   Unless specified, all companies in this Guide refer to those that established with accordance to Taiwan’s Company Act. Including both limited companies and companies limited by shares.   According to Taiwan’s Company Act, Securities Exchange Act, Security Exchange Tax Regulation, Business Tax Law and Income Tax Act, different taxes are levied on the transfer of shares due to the difference in the identification of the owners and the objectives of the transaction. This Guide, therefore, provides a brief explanation of tax liability incurred during the transfer of shares.   Since 1st January 2016, income tax is no longer charged on securities transactions income made by individuals. Instead, any certified stock transferred by individuals is charged with securities transactions tax at 0.3% of the gross proceeds, rather than securities transactions income tax. Meantime, stamp duty is not imposed in this activity.   In comparison, […]

China Releases Strict Administration Rules on Financial Leasing Companies   China Banking and Insurance Regulatory Commission  has just released the Interim Measures for Supervision and Administration of Financial Leasing Companies (hereinafter referred to as the Measures) on 9 June 2020. The Measures consist of six chapters and 55 articles. The following contents of the Measures have attracted much attention of the insiders.   Sort out the Existing Financial Leasing Companies   The financial leasing companies will be divided into three categories, i.e. normal operation category, abnormal operation category and illegal operation category. The abnormal operation category mainly refers to the financial leasing companies with abnormal operations such as lost contact and empty shell.   Lost contact refers to a financial leasing company meeting one of the following conditions: (1)   cannot be contacted; (2)   cannot be found at its registered address; (3)   although the staff of the company can be contacted, […]

Hainan Free Trade Port VS Shanghai Free Trade Zone At the celebration of the 30th anniversary of Hainan Special Economic Zone, the Party Central Committee has decided to support Hainan in building a pilot free trade zone across the island, and to support Hainan in gradually exploring and steadily promoting the construction of a free trade port with Chinese characteristics. On June 1, the General plan for the construction of Hainan free trade port was released, and the construction of Hainan free trade port officially kicked off. The plan shows China’s will and determination to comprehensively deepen reform and opening up in the new era. Since its release at the beginning of the month, it has attracted wide attention from all parties. So what are the highlights and signals of the plan?   The plan comprehensively expounds the construction of Hainan free trade port from the following four aspects: General […]

Shanghai will Further Innovation and Open Wider and Expand Foreign Investment   With the closing of the third session of the 13th National People’s Congress. The two sessions in this special period attracted the attention of the whole world. At the meeting, “stabilizing foreign investment” became a hot topic. Many representatives and members of the committee made suggestions to reduce the negative list and further the market access eased. Shanghai has been the first choice for foreign capital to enter the Chinese market for a long period. Under the background of the current global war, “epidemic”, the global economy is full of various uncertainties, and international capital is looking for a safer “haven”. This year’s government work report pointed out that in the face of changes in the external environment, we should unswervingly expand opening, stabilize the industrial chain supply chain, and promote reform and development through opening up. Shanghai […]