In a recent ‘Wordwide Tax Daily’ article from Taxanalysts, it was stated that the tax system in Hong Kong is exceptionally simple! Of course, the article is right in as much that the current Hong Kong Inland Revenue Ordinance does not contain many pages, at least not when compared to the tax provisions of many […]
Guoshuihan [2009] No. 698 (“Circular 698”) was issued on the 10th of December 2009 and is still subject to considerable controversy, mainly because of its lack of clarity regarding non-residents of Mainland China. Some guidelines on the application of Circular 698 can be derived from Guo Shui Fa [2010] No 75 (“Circular 75”), which contains […]
Some of these jurisdictions including Mainland China are not accustomed yet to take tax advice or even willing to pay for tax advice, as they think that nominees/third party structures are sufficient and are convinced that they are able to stay out of the hands of the relevant tax authorities. This may fall into the […]
