The Hong Kong government plans to introduce a new tax scheme called the Tax Certainty Enhancement Scheme (“the Enhancement Scheme”), to enhance Hong Kong’s attractiveness as an international investment and business hub.
It is sometimes controversial whether conditions for an offshore non-taxable claim in Hong Kong are met. Here’s how to prepare for it.
In order to further develop the asset management and the related service industries, the Hong Kong Government on 17 July 2015 published in the Gazette, the Inland Revenue (Amendment) (No. 2) Ordinance 2015 (‘Amendment Ordinance’), under which the profits tax exemption for offshore funds shall be extended to private equity funds. Pursuant to the Amendment […]
Hong Kong adopts the territorial source system whereby only income arising in or derived from Hong Kong (referred as ‘onshore income’) is subject to profits tax pursuant to the general charging rule of Section 14(1) of the Inland Revenue Ordinance. In other words, income which is sourced outside Hong Kong (referred as ‘offshore income’) is […]
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