Tuesday 24th October 2017
Dear Reader,
Our second newsletter in three days - but this is important.
NEW ARTICLE
The
CE's damaging tax proposals: a better approach
The Government proposes distortive gimmicks and loopholes rather than
addressing structural issues. Public expenditure has grown faster than GDP,
breaching the Basic Law. Revenues have grown even faster, draining capital from
the economy. Time to return it. A flat rate of 10% for Profits Tax and Salaries
Tax is entirely affordable. What is R&D anyway? New armies of tax consultants
and assessors do not make our economy more productive. (24-Oct-2017)
RECENTLY ON WEBB-SITE
Questions
on Teamway (1239) and a bit of soccer
An HKEX decision last week led us to discover an inflated acquisition
that looks like a cash extraction exercise, possibly to cover an earlier outlay
of "earnest money". A sudden surge in profits of the acquired consultancy
coincides with a Chinese takeover of troubled soccer team A.C. Milan, or
Rossonori, which prints more red ink than black, and a deeply-subordinated loan
to its Chairman. (22-Oct-2017)
And much more besides...
Remember that, apart from our occasional
artisan articles, you can follow Webb-site Reports via RSS,
Twitter,
Facebook or
Google+.
Pass it on!
This free newsletter goes to over 23,000 subscribers. If you enjoy the site, then please
invite a friend to find out
what they are missing and subscribe!
Copyright notice
This e-mail and small extracts of any article on the site may be freely quoted
in any other publication but ONLY if attribution is given to
Webb-site.com.
David M. Webb
Editor, Webb-site.com