Thursday, 15 June 2017

Cloud-based accounting solution for China entities

We provide Cloud-based accounting solution for China entities. You can access to view the company's financial information anywhere at anytime with the cloud accounting software. Work Smarter and Faster with Primasia!







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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
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Follow us on:
LinkedIn: Primasia
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Primasia Corporate Services Limited
Tel: +852 2882 2088


Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Friday, 26 May 2017

China Updates- Civil Law Reform/ Personal Data Protection

Civil Law Reform
The National People's Congress has formally adopted the China General Civil Law Rules (“GCLR”), which will enter into force on 1st October, 2017. The GCLR cover the basic elements of the civil law system, as follows:
  • the basic principles of civil law
  • subjects
  • rights
  • legal acts
  • liability; and
  • statute of limitations.

Personal Data Protection
The Supreme People's Court has clarified some of the rules regarding personal data protection, and criminal liability for breaches of the rules.

Personal information is defined to cover:
  1. any information that can be used alone or in combination with other information, to identify a natural person; and
  2. any information reflecting the special characteristics of the activities of a natural person.


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Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!

===================================================================

Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088




Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Friday, 12 May 2017

Hong Kong Updates- Employment Disputes/ Same-sex Marriage/ Minimum Wage

Employment Disputes - Reinstatement of Employees
The Employment (Amendment) Bill 2017 , which was gazetted on 5th May, 2017, includes provision for reinstatement of employees who have been unfairly dismissed. The previous draft has been changed, however, to increase the penalty on an employer for refusal to reinstate to HK$72,500.

Although the number of cases where employees seek reinstatement has been low in the past, the increase in the penalty may provide more incentive for employees to do so.

Same-sex Marriage

Hong Kong’s Court of First Instance has recognised same-sex marriage in a narrowly defined case (but the Department of Justice is appealing the ruling). In essence, the case applies to cases where the term “spouse” is used in legislation without being defined so as to exclude same-sex marriage (unlike Hong Kong’s Marriage Ordinance, which defines marriage as being between non-same-sex partners, or the Inland Revenue Ordinance, which refers to “husband and wife”).

However, the Equal Opportunity Commission’s Code of Practice against Discrimination in Employment on the Ground of Sexual Orientation proposes good practices in the workplace, including not discriminating on the basis of sexual orientation.

Minimum Wage
As previously reported, the Statutory Minimum Wage rate has increased from HK$32.5 per hour to HK$34.5 per hour with effect from 1st May 2017.




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Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!

===================================================================

Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088




Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Friday, 28 April 2017

China Updates- Intellectual Property/ Social Security


IP
SIPO (the State Intellectual Property Office of China) has introduced some new guidelines on patents, effective 1st of April, 2017. The main changes, very broadly speaking, are to extent the scope of patentability. One of the more general relaxations is to increase the range and scope of documents available for public inspection.


Social Security
A mutual arrangement between China and Finland was announced regarding exemptions for citizens of each country from certain social security deductions in the other party’s jurisdiction.




***
Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!

===================================================================

Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088




Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Monday, 17 April 2017

Hong Kong Updates- Salary Costs/ Employment

Salary costs
According the Hong Kong’s Census & Statistics Department, December's average wage rate grew 3.6% in nominal terms over a year earlier. Two thirds of companies reported giving salary increases, while 30% decreased salaries. 3% made no change. The overall salary rate rose 2.5% in real terms (after discounting for the main consumer price index).



Employment

There is a proposal to remove the right of employers to offset their contributions to an employee’s Mandatory Provident Fund against long service or severance payments. If and when this proposal is implemented; firstly, the change will not be of retrospective (before the implementation date) effect; secondly, the rate of severance and long service payments will be reduced from 2/3 to ½ of the monthly salary; and thirdly, the government will foot part of the employer’s extra costs.



***
Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!

===================================================================

Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088




Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Friday, 7 April 2017

Record Expenses On The Go

You can easily record your expenses on the go with Xero. No more headaches caused by keeping track of your receipts! Talk to us today to know more about it!


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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088




Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong


Friday, 31 March 2017

China Updates- Tax

Tax
On March 5th, at the fifth session of the 12th National People’s Congress (NPC), Premier Li Keqiang spoke on the Chinese government’s plans for the next year (in addition to reviewing the achievements of the previous year). The main fiscal tasks for 2017 include:

  1. simplifying the VAT rate categories,
  2. increasing the percentage of  R&D expenses’ “super deduction” for Corporate Income Tax (CIT) for SMEs,
  3. lowering the level at which qualified small and thin-profit enterprises qualify for CIT preferential treatments,
  4. continuing to standardise and eliminate the “non-tax [i.e. administrative] burden” of SMEs.   

***
Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!

===================================================================

Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088




Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong