Hong Kong is well known for its low-tax, business-friendly environment. With no VAT or GST. Understanding what tax deductions and allowances are available under Hong Kong’s Inland Revenue Ordinance (IRO) can help you further reduce your tax liabilities and improve compliance. In this guide, we’ll break down the types of taxes in Hong Kong and… Continue reading Guide to Tax Deductions, Allowances & Incentives in Hong Kong (Updated for the 2026-27 Budget)
The Hong Kong Inland Revenue Ordinance (“IRO”) imposes strict requirements for individual returns filings and aims at avoiding the filing of incorrect tax returns by the individuals. If those requirements are not met, the relevant punitive provisions empower the Commissioner of Inland Revenue, depending on: The nature and/or the degree of culpability of the offence… Continue reading Legal Consequences of Filing an Incorrect Tax Return
The Organisation of Economic Cooperation and Development (“OECD”) is currently working on a new digital taxation proposal to further address the Base Erosion and Profits Shifting (“BEPS”) project, which is also commonly known as “BEPS 2.0”. BEPS 2.0 has two components, namely Pillar One and Pillar Two. Pillar Two (i.e. the imposition of a global… Continue reading Digital Taxation – A Global New Tax for Digital Economy
As a result of an increase of foreign investments in Mainland China and a strong demand for foreign talents by local Mainland Chinese companies, many foreigners are working nowadays either permanently or temporarily in Mainland China. These foreigners are advised to do proper ahead of time tax planning or revise their employment/assignment arrangements in Mainland… Continue reading Mainland China Individual Income Tax for Foreigners
Received your Tax Demand Note? Don’t blindly pay the ‘Green Bomb.’ Learn how to verify your tax assessment, apply for a holdover of provisional tax, and lodge a valid tax objection to ensure you aren’t overpaying. Read our step-by-step guide.
The question whether or not the profits including commissions arising out of securities and commodities trading are subject to Hong Kong corporate income tax have been subject to several Hong Court cases. In Nice Cheer Investment Limited v CIR (HCIA 8/2007), dated 28th of June 2011, were however the unrealised gains arising out of the… Continue reading Trading Securities and Commodities and Corporate Income
Due to global implementation of common reporting standard (CRS) and automatic exchange of information (“AEOI”), financial institutions (“FIs”) are required to conduct due diligence on tax residency certificate 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… Continue reading Erroneous Tax Residency Risks
The Individual Income Tax Law (‘IIT Law’) of Mainland China was introduced in 1980 and has been amended 6 times since.
Certificate of Resident Status (CoR) (居民身分證明書) is a document issued by the Hong Kong Inland Revenue Department (IRD) stating that the applicant, who can be an individual or an entity, is a Hong Kong tax resident under the double tax agreement (DTA) between Hong Kong and a particular foreign tax jurisdiction for a particular calendar… Continue reading A Guide to obtaining Certificate of Resident Status in Hong Kong
One can potentially enjoy a significant withholding tax saving on the distribution/payment of dividends, interests or royalties from out of Mainland China by applying the Mainland China DTAs, subject to certain conditions.
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