Tax Disputes & Investigations
There is a unit in the Hong Kong Inland Revenue Department (IRD) 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.
We provide 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. We can assist in attending interviews with the IRD, handling tax enquiries from the IRD, preparing and filing settlement proposals to the IRD.
If that’s what I understand, we won the case. I just can’t believe it, I wait for your confirmation to celebrate it, but in any case, you did an amazing job and I would be the first one to recommend you.
Hong Kong 2019-2020 Budget7 March 2019
Introduction On 27 February 2019, the Financial Secretary of Hong Kong announced the Budget for the fiscal year 2019-2020. The forecast is that for the fiscal year 2018-19, there will be a surplus of HKD 58.7 billion, and that the fiscal reserves will reach HKD 1,161.6 billion by 31 March 2019. This Budget has been… read more
The Taxation of the Digital Economy4 January 2019
Introduction Many of us have heard or might even have read about the taxation of the digital economy. This not only because the Organisation for Economic Co-Operation and Development (‘OECD’) and the European Union (‘EU’) both have issued reports on this matter, but also because it has become a ‘hot topic’ within the society itself… read more
Potential Risks of Erroneous Exchange of Tax Information21 November 2018
Introduction Due to global implementation of common reporting standard (CRS)/automatic exchange of information (“AEOI”), financial institutions (“FIs”) are required to conduct due diligence on account holders to ascertain their tax residency, and accordingly whether certain information of the financial accounts of the account holders is required to be exchanged to foreign tax jurisdiction(s). The due… read more
Mainland China Individual Income Tax Reform13 November 2018
(A) Introduction The Individual Income Tax Law (‘IIT Law’) of Mainland China was introduced in 1980 and has been amended 6 times since. On 31 August 2018, the Draft Amendment IIT Law, which was released for public feedback on 29 June 2018, was approved by the National People’s Congress (‘NPC’) of the People’s Republic of… read more