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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
In order to further develop the asset management and the related service industries, the Hong Kong Government on 17 July 2015 published in the Gazette, the Inland Revenue (Amendment) (No. 2) Ordinance 2015 (‘Amendment Ordinance’), under which the profits tax exemption for offshore funds shall be extended to private equity funds. Pursuant to the Amendment… Continue reading Profits Tax Exemption to Offshore Funds from Private Equity Funds
In April, most companies receive the Employer’s Returns and Profits Tax Returns. How should you approach these annual tax filing obligations?
Comparing Hong Kong and Singapore for your business relocation? Here’s an honest breakdown of tax, costs, banking, and which jurisdiction fits your needs.
On 25 February 2026, Hong Kong’s Financial Secretary delivered the 2026–27 Budget. The Budget outlines the city’s economic outlook, public finances, and a range of tax measures affecting both businesses and individuals. The theme of this year’s Budget is:“Driving High-quality, Inclusive Growth with Innovation and Finance.” Below is a clear summary of the most important… Continue reading Hong Kong Budget 2026–27: Key Tax Measures Explained
Think Hong Kong has no withholding tax? Not exactly. While many types of income are exempt, there are specific situations where you are legally required to withhold tax for the Inland Revenue Department (IRD). Here is your guide. When we talk about “Withholding Tax” (WHT) in Hong Kong, business owners often assume it doesn’t apply… Continue reading Understanding Withholding Tax in Hong Kong: What You Must Know
Strategic tax planning just got easier for Hong Kong businesses looking to expand into Central Asia. Here is everything you need to know about the new Comprehensive Double Tax Agreement (CDTA). On March 4, 2026, Hong Kong and the Kyrgyz Republic officially signed a Comprehensive Double Tax Agreement (CDTA), marking a significant milestone in international… Continue reading Hong Kong and Kyrgyzstan Sign New Tax Treaty: What It Means for Investors
Hong Kong is well known for its low-tax, business-friendly environment. With no VAT or GST. Understanding what tax deductions and allowances are available under Hong Kong’s Inland Revenue Ordinance (IRO) can help you further reduce your tax liabilities and improve compliance. In this guide, we’ll break down the types of taxes in Hong Kong and… Continue reading Guide to Tax Deductions, Allowances & Incentives in Hong Kong (Updated for the 2026-27 Budget)
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