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The Hong Kong Association of Banks (HKAB; Chinese: 香港銀行公會) is an association created based on a series of Bank Ordinances enacted since 1948. In 1981 the association was established and replaced the Exchange Bank Association .
The Banking Ordinance is a set of laws passed by the Legislative Council of Hong Kong to tighten restrictions for opening up or licensing a bank. Prior to the 1964 re-regulations, the government had no way to control bank's monetary effect on the economy. It also had no way of protecting the people utilizing the institutions.
Income tax rate in Hong Kong is 2% when net taxable income is from 1 to 50,000 Hong Kong dollars, 6% when net taxable income is between 50,001 and 100,000 Hong Kong dollars, 10% when net taxable income is between 100,001 and 150,000 Hong Kong dollars and 14% when net taxable income is between 150,001 and 200,000 Hong Kong dollars.
The IRD is responsible for the administration of the following Hong Kong ordinances on taxes and duties and the related rules and regulations: Betting Duty Ordinance Cap.108; Business Registration Ordinance Cap.310; Estate Duty Ordinance Cap.111; Hotel Accommodation Tax Ordinance Cap.348; Inland Revenue Ordinance Cap.112; Stamp Duty Ordinance ...
General; Tax avoidance. Repatriation tax avoidance; Tax evasion; Tax resistance; Tax shelter; Debtors' prison; Smuggling; Black market; Unreported employment; Corporate
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Under the Bank of China (Hong Kong) Limited (Merger) Ordinance, banknotes issued by the Bank of China prior to its merger remained legal tender and became the obligations of Bank of China (Hong Kong). As one of the three note-issuing banks, BOCHK is also a rotating chairman of the Hong Kong Association of Banks, the main industry body of ...
The Clearing House Automated Transfer System, or CHATS, is a real-time gross settlement (RTGS) system for the transfer of funds in Hong Kong.It is operated by Hong Kong Interbank Clearing Limited (HKICL), a limited-liability private company jointly owned by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks.