Income recipients are usually required to obtain a certificate of resident status (“CoR”) from the relevant tax authority. As such, the CoR is one of the most important documents for the purpose of enjoying the tax benefits offered in the DTAs. This is necessary n order to be entitled to certain tax benefits granted under… Continue reading Certificate of Tax Resident Status – Is Your Company Able To Obtain It?
Global mobility has allowed more and more companies to request their personnel to carry out work duties outside the companies’ home tax jurisdiction. In the past, most working arrangements abroad were rather permanent, nowadays jobs are also performed on an assignment/secondment basis or on a commuter basis or even as a combination of these latter… Continue reading Global Mobility Issues from a Corporate & Income Tax Perspective
To promote the research and development (“R&D”) sector and the creative industries in Hong Kong to exploit their intellectual property (“IP”) rights for economic growth and competitiveness, the Hong Kong government has introduced the Patent Box Regime.
Tax planning is relevant for individuals and companies alike who wish to mitigate tax liabilities as well as plan ahead for the payment of those. Such planning is also part of tax management and it is a key facet of estate planning. It is important to be aware that proper tax planning is beneficial to… Continue reading Tax Planning in Hong Kong, Mainland China & Asia
Some of these jurisdictions including Mainland China are not accustomed yet to take tax advice or even willing to pay for tax advice, as they think that nominees/third party structures are sufficient and are convinced that they are able to stay out of the hands of the relevant tax authorities. This may fall into the… Continue reading Cultural Differences in Aggressive Tax Planning
In Hong Kong’s corporate sector, understanding the nuances of various tax-related forms is crucial for employers. One such form, the IR56G, plays a vital role when an employee decides to leave not just their job, but also Hong Kong itself. The IR56G form is part of the Tax Clearance process when leaving Hong Kong. What… Continue reading Understanding the IR56G Form for Employee Departure from Hong Kong
Severance payments may raise taxation issues under the Hong Kong salaries tax law. Learn how to stay compliant and avoid tax liabilities.
Every Hong Kong incorporated business, unless having obtained a dormant status from the Hong Kong Companies Registry, must do a financial audit, which is done by someone outside the business. This statutory requirement exists, regardless of the stage or scale of your company or whether your business operations are in Hong Kong or overseas. Auditing… Continue reading Audit report in Hong Kong
Explore the essentials of tax credit Hong Kong, from foreign credits to tax incentives. Navigate Hong Kong’s tax system with confidence.
In this article, we’ll explore how ESOPs work in Hong Kong, the tax implications of ESOPs, and how to set up an ESOP for your business.
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