This guide walks you through the basics of salaries tax (sometimes called individual tax in Hong Kong), explain the latest rates and allowances, and show real examples of how much you might need to pay.
This guide walks you through the basics of salaries tax (sometimes called individual tax in Hong Kong), explain the latest rates and allowances, and show real examples of how much you might need to pay.
A service PE is maintained by a foreign entity in Mainland China, the relevant individuals assigned to Mainland China will potentially be exposed to Mainland China individual income tax, irrespective of whether or not the individuals stayed in Mainland China for more than 183 days in a year.
In this article, we will go into tax field audits on companies and individuals in Hong Kong and how to navigate through them.
For individual taxpayers in Hong Kong, the BIR60 form is a crucial document that shouldn’t be overlooked. This guide offers a step-by-step walkthrough of the BIR60 form.
there are different tax deductions and allowances available under the Hong Kong tax regimes and the availability of them depends on the circumstances of the taxpayer.
Despite its lack of government oversight, governments and tax authorities are starting to set up frameworks to tax crypto currencies.
Navigating the Inland Revenue Department’s eTAX system can be complex for growing businesses. This comprehensive guide explains Hong Kong’s employer e-filing requirements, including how to use the IR56 Forms Preparation Tool, the differences between submission modes, and how engaging a professional tax representative can ensure 100% compliance.
Employer’s Return forms, commonly recognised as the BIR56A form and IR56B forms in Hong Kong, are a key tax compliance requirement for companies. These documents are the tax return form for employers and must be prepared carefully and submitted on time to the Inland Revenue Department (IRD). What are the IR56B and BIR56A forms (Employer’s… Continue reading IR56B and BIR56A Forms: An Intro to the Employer’s Return Forms
A main feature of the Hong Kong has system has been introduced. It is a tax incentive called the two-tiered profits tax rates. The two-tiered profits tax rates regime applies to corporations and unincorporated businesses (i.e. sole proprietorship and partnership businesses) by lowering the tax rates for the first HKD 2 million of assessable profits… Continue reading Two-Tiered Profits Tax Rates in Hong Kong
Tax depreciation allowances for the expenditure of fixed assets are available to Hong Kong taxpayers subject to profits tax. It is normally granted on the condition that such fixed assets were acquired to generate assessable income for the taxpayer. However, pursuant to the Hong Kong tax laws, expenditure of capital in nature are not tax deductible when calculating… Continue reading Depreciation Allowances under Hong Kong Profits Tax
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