Micro News

As at the end of December 2016, over 50 countries have already joined the automatic exchange of tax information. Relevant treaties include about 350 agreements on the mutual exchange of information for tax payers. 1,133 out of 1,459 possible agreements have been ratified. Activation of new agreements…


One should pay attention to the fact that Hong Kong withdraws the Stamp Duty, a certain tax on the amount of an offshore company’s shares sold. The duty is calculated as 0.1% from the sale and purchase value or a face value of the shares, whichever is higher. The tax can be avoided if the companies…


As the new regulations introduced by the Singapore Ministry of Manpower suggest, as of January 1st, 2017, the minimum required salary for Employment Pass applications is to be increased to SGD$3,600. This indeed is a minimum income level, which does not ensure a positive decision on the work permit in…


Each bank has their own procedures for tracking and capturing suspicious payments. Since most banks have already implemented automated transaction systems, all of them apply certain filters to track payments. Hong Kong HSBC can be taken as an example: it definitely has filters adjusted to Latvia, not…



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