Does the new FSIE regime impact your company’s tax liability on passive income? Should you take any actions, such as strengthening your economic substance in Hong Kong? Will it help to modify your current business and investment structure?
Does the new FSIE regime impact your company’s tax liability on passive income? Should you take any actions, such as strengthening your economic substance in Hong Kong? Will it help to modify your current business and investment structure?
It is sometimes argued that a company incorporated under HK Law (“HK Co”) will (a) automatically be regarded as a Hong Kong tax resident; and (b) only be subject to corporate tax in Hong Kong but not in other tax jurisdictions. However, one has to be well aware that if HK Co lacks (has insufficient) ‘tax… Continue reading Economic Substance in Hong Kong
Today (26 October 2022), the Financial Services and The Treasury Bureau of Hong Kong conducted
a briefing session about the latest development of the FSIE Regime, including certain proposed
amendments to the provisions.
Hong Kong strives to be a leading asset and wealth management hub and attract more funds with favorable taxation.
Transfer pricing (“TP”) refers to the setting of prices for transactions of goods, services and intangible property between associated enterprises. Transfer pricing remains one of the most important issues in the world and is closely tied to other areas of international conflicts, like double taxation. It is about how governments treat the pricing policies enterprises… Continue reading Transfer Pricing in Hong Kong and Mainland China
Corporations should review how the new FSIE regime will impact their tax liability of their passive income and whether any actions should be taken.
Replying to IRD enquiries has to be handled with great care and strategies. Provision of unfavourable or inconsistent information to the IRD may not only render the tax claims fail but also potentially result in IRD enquiries on a further tax probe such as a full tax audit and investigation.
It is sometimes controversial whether conditions for an offshore non-taxable claim in Hong Kong are met. Here’s how to prepare for it.
In general, each entity has corporate income tax reporting and payment obligations, in other words, tax compliance.
In this article we’ll explain what personal assessment means in regards to Hong Kong tax and how it works.
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