Tax Disputes & Investigations
There is a unit in the Hong Kong Inland Revenue Department (IRD), by some also called a Hong Kong tax authority or a Hong Kong tax office, specialised in tax audit and investigations. They do in-depth review and investigations on cases selected. The selected taxpayers will likely have to spend a lot of time and manpower on dealing with the tax audit investigation.
Our Hong Kong tax lawyer provides professional assistance to clients who are selected for tax audit. We also help to plan a proper strategy to reduce the tax and/or penalty (if any) as much as possible for clients. In addition, our Hong Kong tax lawyer can assist in attending interviews with the IRD, handling tax enquiries from the IRD, preparing and filing settlement proposals to the IRD.
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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
Which Banking Solution is Suitable?7 May 2020
With the increasing reliance on financial technology (often shortened to fintech), traditional banks are no longer the only option for opening a bank account, instead, thanks to the developments in fintech, people now can open bank account with a neobank. There are two types of neobank and they can be classified into (i) companies that… read more
Tax Impacts of the COVID-1924 April 2020
Introduction COVID-19 has, affected most, if not all, people in the world. Due to worldwide strict quarantine measurements and travel restrictions, people are being banned or discouraged from entering/leaving countries and consequently are required by (local) governments and/or their employers to work from home or even from different countries. As a result, for many, the… read more