Due to global implementation of common reporting standard (CRS) and automatic exchange of information (“AEOI”), financial institutions (“FIs”) are required to conduct due diligence on tax residency certificate holders to ascertain their tax residency, and accordingly whether certain information of the financial accounts of the account holders is required to be exchanged to foreign tax… Continue reading Erroneous Tax Residency Risks
The Individual Income Tax Law (‘IIT Law’) of Mainland China was introduced in 1980 and has been amended 6 times since.
In order to improve the implementation of double tax treaties between Mainland China and other tax jurisdictions, the State Administration of Taxation of Mainland China (“SAT”) released in February 2018 a Public Notice [2018] No. 9 (“Public Notice 9”), providing further and clearer guidelines/rules in assessing the Mainland China beneficial ownership (“BO”) status for the… Continue reading Mainland China Beneficial Ownership
On 28 February 2018, the Financial Secretary of Hong Kong announced the Budget for the fiscal year 2018-19.
As from 1 January 2018, Mainland China has introduced its first environmental tax law, the Environmental Protection Tax (the “EPT”) law. The EPT replaces the existing pollutant discharge fee (“PDF”) system, which was in operation for nearly the last 40 years. The main difference between the PDF and the EPT is that the former is… Continue reading Mainland China Environmental Tax
On 21 December 2017, the Chinese central government authorities issued a tax circular Caishui [2017] No. 88 (“Circular 88”) on China investment profits by foreign investors. According to Circular 88 and subject to conditions discussed below, foreign investors are allowed to defer payment of withholding tax on dividend income from equity investments in Chinese resident… Continue reading Mainland China Deferral of Payment of Withholding Tax on Investment Profits
HKWJ Tax Law & Partners makes it easy to begin. From tax compliance and advisory to accounting, incorporation, and business support, our team delivers tailored solutions with confidentiality and care — helping you move forward with confidence.
Contact us to explore how we can support your business and personal needs.
Contact Us
