Each year, many people enter and leave Hong Kong. Perhaps you are moving back home or to an opportunity elsewhere. There are many things to take care of regarding your move.
Each year, many people enter and leave Hong Kong. Perhaps you are moving back home or to an opportunity elsewhere. There are many things to take care of regarding your move.
On 28 July 2021, the Hong Kong Inland Revenue Department (“IRD”) released its guidance on tax issues arising from the pandemic.
A good financial advisor can support you make the right choice, take time to discuss your personal finances, and is up to date with the latest information. They will take care of your personal finance planning and make sure you have things in place. All you need to do is reach out to one.
Outsourcing invoicing processing – and any outsourcing any other financial administration – frees up time and money that you can spend on all other aspects of growing and running your business.
The charging provision of profits in Hong Kong, detailed in article 14 of the Inland Revenue Ordinance (IRO), might be considered as simple by ‘outsiders,’ it is far from straightforward, as the charging provision can be open to many different interpretations. As a result, even the most straightforward cases regarding capital receipts and gains can… Continue reading Aviation Fuel Supply v CIR: Capital Receipts & Gains Dispute
Pursuant to the Enterprise Income Tax (‘EIT’) Law in Mainland China, capital gains derived by non-resident enterprises from the transfer of directly held equity interest in (i) Chinese resident entities or (ii) movable/immovable properties in Mainland China (collectively referred as the ‘Interest in Mainland China’) are generally subject to capital gain tax in Mainland China.… Continue reading Indirect Transfer of Properties in Mainland China by Non-resident Enterprises
As an international trading and financial centre, Hong Kong double taxation agreements (‘DTAs’) with its trading partners are essential to provide investors certainty in respect of taxing rights and incentives for carrying on business in Hong Kong. The DTA network also stimulates the development of a mutual economy, prevents discrimination and double taxation. Apart from… Continue reading Hong Kong Double Taxation Agreements and Tax Information Exchange Agreements
The Organisation for Economic Co-operation and Development (“OECD”) has developed a raft of action plans in order to counter Base Erosion and Profit Shifting (“BEPS”). According to OECD, BEPS refers to tax planning strategies that exploit gaps and mismatches in tax rules to make profits “disappear” for tax purposes or to shift profits to locations… Continue reading BEPS & Automatic Tax Exchange of Information
One should carefully evaluate the tax implications in both of your home country and the retiring country before making any decision.
Every company in Hong Kong, except for listed companies, needs to have a so-called ‘Significant Controller Register’ in place that will identify the beneficial owner(s) of a Hong Kong company. This is a rule that was introduced in Hong Kong as per 1 March 2018 through the Companies (Amendment) Ordinance 2018. Why a Modernization of… Continue reading Significant Controller Register in Hong Kong
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