Tax audit and dispute - HKWJ Tax Law

Hong Kong Tax Audit & Disputes

The tax system in Hong Kong is simple but not straight forward. In Hong Kong where the territorial source system is adopted, one of the most controversial tax issues is whether or not an income is arising in or derived from Hong Kong (i.e. sourced in Hong Kong) and hence subject to Hong Kong income […]

Tax substance - HKWJ Tax Law

Tax Substance in Hong Kong

It is sometimes argued that a company incorporated under HK Law (“HK Co”) will (a) automatically be regarded as a Hong Kong tax resident for tax purpose; and (b) only be subject to profits tax in Hong Kong but not in other tax jurisdictions. However, one has to be well aware that if HK Co lacks […]

Advance ruling in Hong Kong - HKWJ Tax Law

Advance Rulings in Hong Kong

Advance rulings on tax, a kind of tax insurance, help to reduce the tax risks companies may face. This, as for most investors and their management, potential tax liabilities and tax risks that may arise within the company remains a concern when conducting their businesses. As tax authorities and taxpayers generally tend to protect their […]