Hong Kong property tax is charged on persons who are the owners of any land or buildings or both located in Hong Kong and earn rental income from the land and/or buildings. Certain additional deductions (e.g. mortgage interest) are available when the taxpayer concerned elect for personal assessment, subject to certain conditions.
We can advise our clients on their property tax matters. Meanwhile, we help clients to have the property tax filing on an appropriate tax return.
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Tax Incentives in the Greater Bay Area and Free Trade Zones/Port in Southern China7 July 2020
Pursuant to a co-operation framework agreement entered into in July 2017, Hong Kong, Macau and nine municipalities in the Guangdong Province of Mainland China including Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing have strategically integrated to form the Greater Bay Area (“GBA”), with a view to develop the region as a world-class… read more
Did you receive THE Green Envelope? Tips on the 2019/20 individual (salaries) tax return7 June 2020
Individual Tax Return Filing for the Year 2019/20 The Hong Kong Inland Revenue Department or simply the Hong Kong Tax Authority (“IRD”) has now issued the year 2019/20 individual (salaries) tax returns (yes, that green envelope) for completion. Lodgement of tax exemption claims Individuals are obliged to report their relevant income in their individual tax… read more
Tax Consequences on Termination Payments18 May 2020
Introduction Due to the COVID-19 pandemic, many industries, such as aviation, tourism, hotel, hospitality, retail and catering, have been severely impacted. As a result, various employees, such as pilots and salesmen, have been dismissed by their employers. Some of those employees may be entitled to termination/redundancy/severance packages from their employers, such as a reward for… read more
Economic Substance Legislation on the British Virgin Islands13 May 2020
Introduction A number of investors worldwide, including Hong Kong and Mainland China, maintain entities on the British Virgin Islands (“BVI”) for various purposes, such as acting as a vehicle to hold share investments and/or intellectual properties, or to engage in trading, service and/or fund management business. Please note that the BVI introduced the Economic Substance… read more