|2019/12/20||Submission on Law of the People's Republic of China on Value-added Tax (Draft for Consultation)|
The Ministry of Finance of the People's Republic of China and the State Taxation Administration announced in November that it was seeking public opinion on the "Law of the People's Republic of China on Value-added Tax (Draft for Consultation)." The draft reduces the uncertainty in the current VAT law, and is a significant step in the reform of Chinese tax laws. The Chamber submitted a number of suggestions to the authorities on 20 December, after consolidating members’ opinions on the draft.
|2019/11/29||Submission on the Regulations for the Implementation of the Foreign Investment Law of PRC |
The aim of the “Regulations for the Implementation of the Foreign Investment Law” is to provide implementational details of the regulatory framework of the “Foreign Investment Law”. The “Regulations for the Implementation of the Foreign Investment Law” and the “Foreign Investment Law” will be in effect on 1 January 2020.
|2019/08/01||Submission on Mainland Individual Income Tax to the development of the GBA|
The Chamber suggests that the difference between the day-counting rule of the Mainland Individual Income Tax and that of the Hong Kong / Mainland Taxation arrangement should be addressed and aligned in order to promote the long term development of the Greater Bay Area (GBA).
|2019/02/19||The second draft of the “Law of the People's Republic of China on Foreign Investment (Draft)|
The second draft of the “Law of the People's Republic of China on Foreign Investment (Draft)”was released for public opinion and comment at the end of 2018. The Draft aims to boost the Mainland’s economic development by attracting more foreign capital. Most members of the Chamber generally support the provisions contained within the Draft. However, the Chamber has some concerns about whether the proposed law will apply to Hong Kong and Macao enterprises, as the Draft does not clarify this issue. In its submission, the Chamber also shared its thoughts on a number of other areas in the Draft.
|2018/11/06||Joint Submission to Beijing on Personal Income Tax|
The PRC Ministry of Finance and the PRC State Administration of Taxation jointly released the Consultation Draft on the Detailed Implementation Rules of the PRC Individual Income Tax Law and the Provisional Implementation Measures of the Additional Itemized Deductible Items for public comment on 20 October, 2018. The four major local chambers jointly submitted a letter to the Ministries of Finance and State Administration of Taxation on 14 November to reflect Hong Kong businesses’ concerns and suggestions.
|2018/04/26||Chamber’s View and Recommendations on CEPA Implementation ( Trade in Goods )|
The Chamber submitted its proposals on facilitating Trade in Goods under Closer Economic Partnership Arrangement (CEPA) to Ministry of Commerce of PRC and Trade and Industry Department of HKSAR on 26 April 2018.
|2017/08/28||HKGCC Submission with proposals on the development of the GBA|
The Chamber considers enhanced, and preferably seamless, cross-border movements of capital, people, goods and services within the Guangdong-Hong Kong-Macao Greater Bay Area essential ingredients for its successful development. The Chamber calls on the Government to focus on the areas where Hong Kong possesses competitive advantages, leveraging its established expertise as an international financial, shipping and logistics, offshore RMB, and dispute resolution centre.
|2017/05/19||Chamber's View and Recommendations on Further Liberalization Measures under CEPA|
The Chamber submits its proposals for further liberalization and implementation of CEPA to the Mainland and Hong Kong governments every year.