digital taxation - HKWJ Tax Law

Digital Taxation – A Global New Tax for Digital Economy

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 […]

termination payment taxation - HKWJ Tax Law

Are Termination Payments Taxable?

Due to the COVID-19 pandemic, many industries, such as aviation, tourism, hotel, hospitality, retail and catering, have been severely impacted. As a result, various employees, such as pilots and salesmen, have been dismissed by their employers. Some of those employees may be entitled to termination/redundancy/severance packages from their employers, such as a reward for their […]

tax implication of COVid 19 restrictions - HKWJ Tax Law

COVID-19 Tax Impacts

COVID-19 has affected most, if not all, people and businesses worldwide. Due to worldwide strict quarantine measurements and travel restrictions, people are being banned or discouraged from entering and leaving countries and consequently are required by (local) governments and/or their employers to work from home or even from different countries. This has created undesired COVID-19 […]

tax reporting errors

Salaries Tax Reporting Errors, Omissions & Corrections

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. Any inconsistency in the remuneration or tax reporting to the HK-IRD might potentially result into enquiries from the HK-IRD and/or unfavourable tax treatments […]