On 28 July 2021, the Hong Kong Inland Revenue Department (“IRD”) released its guidance on tax issues arising from the pandemic.
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 […]
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. […]
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 […]