COVID-19 has affected most, if not all, people and businesses worldwide. Due to worldwide strict quarantine measurements and travel restrictions, people are being banned or discouraged from entering and leaving countries and consequently are required by (local) governments and/or their employers to work from home or even from different countries. This has created undesired COVID-19 […]
Under the Hong Kong salaries tax system, both employers and employees/directors are obliged to report the employment remuneration/directors’ remuneration to the HK-IRD by filing annual employer’s returns and individual tax returns respectively.
Mainland China and Hong Kong have entered into their Fifth Protocol to their Comprehensive Avoidance of Double Taxation Arrangement.
On 26 February 2020, the Financial Secretary of Hong Kong announced the Budget for the fiscal year 2020-21. The forecast is that for the fiscal year 2019-20, there will be a deficit of around HKD 37.8 billion, and that the fiscal reserves are expected to become HKD 1,133.1 billion by 31 March 2020. The focus […]
