impact chinese holiday china orders

How the Chinese New Year holiday can affect your orders

The Chinese New Year is the most important festival in China and this year the holiday will start on 12 February 2021. Most factories will shut down for the Chinese New Year at the beginning of February 2021 and will remain closed for a few weeks. When they reopen it will take some weeks for them to resume to their …

Tax relief measures and economic stimulus for Hong Kong (7)

National Security Law: what will be the impact in Hong Kong

03 June 2020 – Brasia Limited China is to define a new national security law for Hong Kong. Will this impact business in the city? At the end of May, after a 3-month delay due to the pandemic, the Chinese National Congress met in Beijing to define several political points. At this annual meeting, the congress decided that it will …

ENG Tax relief measures and economic stimulus for Hong Kong

Tax relief measures and economic stimulus for Hong Kong

Hong Kong, 23 April 2020 With the Covid-19 pandemic, several economies in the world had to slow down. With mass unemployment and factories and most businesses closed, governments are expected to issue measures to relief the economy and help the population. Hong Kong followed the steps granting several benefits on a concise and effective plan that will cost at approximately …

Trabalhadores China

Why social responsibility at factories matters?

Brasia, 28th October 2019 When you are looking for a factory we believe you hope the factory will pay attention to social responsibility. Of course, no one wants to buy products from a factory that hires child labor, forced labor, requests long working hours or offers unfair wages, etc. Recently the Canadian yoga pants specialist Lululemon Athletica Inc, has been …

arbitration

An alternative for long and expensive court procedures: arbitration

Brasia, 19th July 2019 As an alternative to time and money consuming court procedures, arbitration has been used for many years as a cheaper, faster and confidential way to solve disputes over the world. In an arbitration procedure, the parties agree to designate an independent third party (a tribunal, comprising of one or more arbitrators) to resolve the dispute between …

Tax Exchange

Increase of Exchange of Tax Information in Hong Kong

April 23rd, 2019 – Brasia Limited Since 2012 tax administrators from all over the world are cooperating to fight against tax evasion and to protect their tax systems. On 21 July 2014, the OECD released the full version of the Standard for Automatic Exchange of Financial Account Information in Tax Matters. The Standard calls on governments to obtain detailed account …

Hong Kong SCR - Creation by Yuri 2019

Obligation for Hong Kong Companies to Maintain a Significant Controllers Register (“SCR”)

The Companies (Amendment) Ordinance 2018 (“the Amendment Ordinance”) introduces new requirements on the keeping of significant controllers registers by companies. The Amendment Ordinance has commenced operation on 1 March 2018. From 1 March 2018, in order to enhance transparency of corporate beneficial ownership in order to fulfil Hong Kong’s international obligations, the Companies Ordinance (Cap. 622) is amended to require …

Compliance

BRASIA obtains new license as Company Service Provider

Hong Kong, March 15th 2019 Hong Kong is one of the successful business centers in the world and is constantly updating its regulation in order to keep it as a safe and trustworthy jurisdiction for doing business. On 1st of March 2018 a new ordinance was introduced in order to ensure that Trust or Company Service Providers (TCSP) have the …

newsletter hk ou china

Should I open a company in Hong Kong or China?

My company needs to open a branch in China, however I am in doubt whether I should open the company in mainland China or in Hong Kong. This is the most common question that companies have when they come to us. However, there is no standard answer to tell you where to open the company. We must take into account …

tax china

Changes in the income tax in China for foreigners and locals

Changes to China’s Individual Income Tax (IIT) on 1 January 2019 are due to be implemented. The changes will change tax computations for both residents and non-resident workers earning income in China. The aim of the new IIT law is to ease the tax burden for low to mid-income earners while taking a tougher stance on both high-income earners and …