“Patent Box” tax incentive in Hong Kong
3 May 2024
The Government published the Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Bill 2024 (“the Bill”) in the Gazette on March 28, 2024 to implement …
3 May 2024
The Government published the Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Bill 2024 (“the Bill”) in the Gazette on March 28, 2024 to implement …
29 Feb 2024
On December 21, 2023, the Government launched a consultation exercise to gather views on the implementation details of the global minimum tax under Pillar Two of…
29 Feb 2024
Currently, there is no capital gain tax in Hong Kong. Hence, gains or profits, arising in or derived from Hong Kong, on disposal of equity interests…
28 Feb 2024
The Financial Secretary Mr. Paul Chan Mo-po delivered the 2024-25 Budget speech on 28 February 2024 and highlights on tax related measures are summarized below: Stamp…
2 Feb 2024 The Government announced on December 19, 2023 the details of the new Capital Investment Entrant Scheme (CIES). The new CIES will accept applications from eligible persons aged 18 or above (including foreign nationals, Chinese nationals who have obtained permanent resident status in a foreign country, Macao…
16 Nov 2023 Stamp duty with effect from October 25, 2023: (i) shorten the applicable period of the Special Stamp Duty (SSD) from three years to two years. In other words, if a property owner disposes of his/her property two years after acquisition, he/she will no longer need to pay…
6 Sept 2023 Under most of the Hong Kong DTAs, “resident of Hong Kong” is defined as a company incorporated in Hong Kong and any other person constituted under the laws of Hong Kong. Except that of the Hong Kong/Japan DTA, under which “resident of Hong Kong” is defined as…
25 Aug 2023 To comply with the guidance on foreign source income exemption (FSIE) regime issued by the European Union (EU), the Government has introduced new the taxation laws on FSIE effective from January 1, 2023 (please refer to our newsletter dated November 18, 2022). In addition, the Government…
12 July 2023 Traditionally, many enterprises set up investment holding companies in offshore jurisdictions such as the British Virgin Islands, Cayman Islands, Seychelles, etc. for various reasons. However, with recent international development in corporate and tax governance, including economic substance rules, the global minimum tax rate of 15% under BEPS…
4 May 2023 Abolishment of exemption for submission of audited accounts Starting from the year of assessment 2022/23 onwards, all corporations and businesses, regardless of the amount of their gross income and the mode of return filing, must submit profits tax returns together with all supporting documents (including financial…