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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (67427)	11/18/2003 10:24:40 AM
From: BubbaFred	Read Replies (1) \| Respond to of 94695

I didn't mean Japan or Singapore. It's in other developing countries. The main reason is inadequate method of tracking the businesses. A business takes care of the accountants, district and local police (authorities) to make sure goods will be delivered safely and on time, government revenue officers, and tax payment, all totals 10% to 15%. It is common practice. These are countries still run on "grafts" or a method for spreading the wealth. They keep two books, with a special one for the government tax collector. In Hong Kong, tax for stock market gains (long or short terms) is 0. I am not sure about income tax. In China, the official tax rate is quite heavy. It is graduated with maximum tax of about 40 - 45% above a certain income level. However there is inadequate tracking system, and most of the businesses and the transactions are cash business.