Blog

The Role of Accounting and Tax Services Amidst Hong Kong's Economic Shifts

Hong Kong remains a key player in the global economy, consistently ranked as one of the most competitive and open financial hubs....

Key Tax Proposals in the Hong Kong 2024-25 Policy Address

On 16 October 2024, the Chief Executive unveiled the 2024 Policy Address themed “Reform for Enhancing Development and Building Our Future...

Abolition of MPF Offsetting Arrangement in Hong Kong

Under the current system, employers in Hong Kong can offset severance payments (SP) and long service payments (LSP) against accrued...

How to Qualify for Offshore Tax Exemption in Hong Kong (2024)

In Hong Kong, offshore tax status refers to income earned outside the city that is not subject to local corporate profit tax, often...

Hong Kong Introduces 5% Tax Break on Qualified IP Income with New Patent Box Regime

On July 5, 2024, the Government of the Hong Kong Special Administrative Region implemented the Inland Revenue (Amendment) (Tax...

Employee Tax in Hong Kong

In Hong Kong, employees are subject to a progressive salary tax system. The tax rate varies depending on the employee's income, with...

Paying Contractors in Hong Kong: A Comprehensive Guide

Many people associate China with Hong Kong rather than Mainland China. This is largely due to Hong Kong's status as a global business...

Workforce Payments Guide: Hong Kong

Currency: Hong Kong Dollar (HKD) Payroll Frequency: Monthly Capital: Hong Kong Fiscal Year: 1 April - 31 March Employer Taxes: 5.00% +...

Social Insurance in Hong Kong

The Hong Kong social insurance system’s primary objective is to address the fundamental and specific needs of community members requiring...

Withholding Tax in Hong Kong

Hong Kong applies the same tax rules to resident and non-resident businesses. Both are required to pay taxes on profits earned in or...

Transfer Pricing and AEOI Reporting in Hong Kong

The Inland Revenue (Amendment) (No. 6) Ordinance 2018 establishes a robust transfer pricing regime in Hong Kong. This ordinance codifies...

Hong Kong's Lucrative Tax Incentives for Businesses

Nestled amidst the bustling streets and towering skyscrapers of Hong Kong lies a beacon of economic freedom and opportunity. For over two...

Salaries Tax in Hong Kong: An Overview

Individuals in Hong Kong are subject to salaries tax on their earnings, with rates varying from two percent to a maximum of 17 percent...

Property Tax Essentials in Hong Kong

Property tax in Hong Kong is a crucial aspect of financial management for property owners, with implications for both individuals and...

Navigating Hong Kong's Profits Tax: Guidelines, Rates, and Compliance

In the dynamic business landscape of Hong Kong, understanding the intricacies of profits tax is essential for financial planning and...

Ensuring Audit Compliance: Navigating Financial Requirements for Companies in Hong Kong

In the bustling financial hub of Hong Kong, understanding the intricate web of audit and financial reporting requirements is paramount...

Hong Kong’s low tax rates continue to attract foreign executives

With some of the lowest corporate and personal tax rates in the world, Hong Kong is an attractive destination for foreign executives....

Hong Kong implements new Foreign Source Income Exemption (FSIE) regime

With the intention of supporting international efforts in combating cross-border tax evasion and preventing double non-taxation, Hong...

New Hong Kong Foreign-sourced Income Exemption regime seeks to end double non-taxation

The Hong Kong tax authorities have decided to strengthen current legislation to better combat cross-border tax avoidance arising from...

China simplifies filing for outbound remittances, cancels Local Tax Surcharges on top of VAT and CT

Foreign investors in China are no longer required to present a separate tax record filing for each outbound remittance as long as they...