This guide walks you through what needs to be filed, when, and how, along with practical tips on extensions, recordkeeping, and tax planning.
This guide walks you through what needs to be filed, when, and how, along with practical tips on extensions, recordkeeping, and tax planning.
For the purpose of combating cross border tax evasion, Mainland China is one of the more than 100 tax jurisdictions which has committed to implement automatic exchange of information (‘AEOI’), by signing the Multilateral Convention on Mutual Administrative Assistance in Tax Matters in August 2013 and entering into the Multilateral Competent Authority Agreement on Automatic… Continue reading Automatic Exchange of Information for Tax Purpose in Mainland China
The Hong Kong Inland Revenue Department updated its practice notes in February 2020 to reflect the remedial interpretation of a marriage as delivered to include same-sex marriage as a consequence of the Leung Chun Kwong v Secretary for the Civil Service (2019) 22 HKCRAF 127 (“the Leung Case”). Let’s explore the case and the same-sex… Continue reading Same-sex Marriage Tax Implications in Hong Kong
As the Hong Kong tax filing season approaches, individual taxpayers may be exploring available deductions and allowances to reduce their tax liability. One commonly claimed allowance is the Dependent Parent and Grandparent Allowance, which applies to those who financially support an elderly parent or grandparent. While the allowance offers meaningful tax relief, the eligibility criteria… Continue reading Parent and Grandparent Allowance in Hong Kong: Eligibility and Compliance Tips
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… Continue reading Partial Offshore Tax Status in Hong Kong
The roles and duties of a tax representative and a tax agent vary in different countries and different terms are used. Generally, a tax representative operates as the client’s company and the tax agent operates representing its own name. Nevertheless, both operate on behalf of the client’s company and can discharge the assigned legal duties.… Continue reading Tax Representative, Tax Agent & Tax Accountant
Under the Hong Kong salaries tax system, both employers and employees/directors are obliged to report the employment remuneration/directors’ remuneration to the HK-IRD by filing annual employer’s returns and individual tax returns respectively.
In Board of Review/Tax Tribunal Case X66, several appellants brought appeals to the Board of Review (“BoR”) under section 66 of the Hong Kong Inland Revenue Ordinance (“HK IRO”). For easy reading, Case X66 described below has been limited to one appellant only but this case shows similar points regarding the importance of tax substance.… Continue reading The Importance of Corporate Tax Substance
When thinking about retiring, many Dutch nationals think about retirement to Thailand or some other exotic country to enjoy their golden years. This may incur in some issue with the Dutch tax authorities. Is retirement to these jurisdictions possible or even beneficial? Dutch Retirement Pension Taxation It is commonly known that Tax Authorities often provide… Continue reading Retirement in Thailand for Dutch Nationals
The Organisation for Economic Co-operation and Development (OECD) and the G20 decided to address intellectual property taxation within the Base Erosion and Profit Shifting project by means of discussing appropriate transfer pricing rules. One has, therefore, to be aware of the potential intellectual property tax risks and challenges that could be made by the tax… Continue reading Intellectual Property Tax Implications & Planning
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