Newsletter

“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”) …
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Consultation on implementation of global minimum tax and minimum top-up tax

29 Feb 2024 On December 21, 2023, the Government launched a consultation exercise to gather views on the implementation details …
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Tax Certainty Enhancement Scheme for Onshore Gains on Disposal of Equity Interest

29 Feb 2024 Currently, there is no capital gain tax in Hong Kong. Hence, gains or profits, arising in or …
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2024-25 Hong Kong Government Budget Highlights

28 Feb 2024 The Financial Secretary Mr. Paul Chan Mo-po delivered the 2024-25 Budget speech on 28 February 2024 and …
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New Capital Investment Entrant Scheme

2 Feb 2024 The Government announced on December 19, 2023 the details of the new Capital Investment Entrant Scheme (CIES) …
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Key Measures Unveiled in the 2023 Policy Address

16 Nov 2023 Stamp duty with effect from October 25, 2023:(i) shorten the applicable period of the Special Stamp Duty …
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Hong Kong has modified the approach to issue Certificate of Resident Certificate

6 Sept 2023 Under most of the Hong Kong DTAs, “resident of Hong Kong” is defined as a company incorporated …
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Updates on the proposed refinements to foreign source income exemption regime for passive income in Hong Kong

25 Aug 2023 To comply with the guidance on foreign source income exemption (FSIE) regime issued by the European Union …
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Hong Kong Plans to Introduce Re-domiciliation Regime

12 July 2023 Traditionally, many enterprises set up investment holding companies in offshore jurisdictions such as the British Virgin Islands, …
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No More “Nil” Return

4 May 2023 Abolishment of exemption for submission of audited accounts Starting from the year of assessment 2022/23 onwards, all …
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Extended due date for lodgment of ‘N’ code 2022/23 tax return

26 April 2023 The Inland Revenue Department has decided to extend the due date for filing 2022/23 Profits Tax returns …
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2023/24 Hong Kong Government Budget Highlights

27 Feb 2023 The Financial Secretary Mr. Paul Chan Mo-po delivered the 2023/24 Budget speech on 22 February 2022 as …
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Tax Concessions for Family-owned Investment Holding Vehicles

6 Feb 2023 Tax Concessions for Family-owned Investment Holding Vehicles The Inland Revenue (Amendment) (Tax Concessions for Family-owned Investment Holding …
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Hong Kong’s Comparative Advantages

25 October 2022 Hong Kong is strategically located at the heart of Asia. The business-friendly environment, low taxes, rule of …
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2022/23 Hong Kong Government Budget Highlights

25 Feb 2022 The Financial Secretary Mr. Paul Chan Mo-po delivered the 2022/23 Budget speech on 23 February 2022. The …
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BEPS 2.0 : International tax reform

28 Jul 2021 With a view to addressing the base erosion and profit shifting (BEPS) risks arising from the digitalisation …
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Passage of bills on increased stamp duty rate on stock transfers

30 Jun 2021 The Revenue (Stamp Duty) Bill 2021 was enacted to give effect to the proposal made in the …
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Penalty Policy for Late Filing of Profits Tax Return

6 May 2021 We have recently noticed an increase in penal actions taken by the IRD for late notification of …
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2021/22 Hong Kong Government Budget Highlights

25 Feb 2021 The Financial Secretary Mr. Paul Chan Mo-po delivered the 2021/22 Budget speech on 24 February 2021. The …
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