The Institute for International Finance (“IIF”) recently warned of the attack of the debt tsunami as a result of the unprecedented fiscal and monetary stimulus packages implemented by governments around the globe pushing the global debt levels to a new high of more than US$ 272 trillion in the third quarter of 2020. The IIF […]
A freelancer may see themselves as a causal employee working with different employers without committing his/her full time to them. However, without any relationship of master and servant, if the freelancer’s income is derived from providing professional or personal services in Hong Kong, he/she will be considered as carrying on a business and a self-employed […]
Due to the COVID-19 pandemic, governments have taken unprecedented measures such as implementing strict quarantine requirements or travel restrictions. As a result, senior executives who are used to travel frequently may now be forced to stay much longer in a host country than usually or even get stranded there. This situation may raise significant Covid-19 […]
The OECD is currently working on a new proposal to further address the Base Erosion and Profits Shifting (“BEPS”) project. The BEPS project itself was launched to prevent multinational enterprises (“MNEs”) from the exploitation of gaps and mismatches in tax rules by artificially shifting profits from high to low or no-tax locations where there is […]
