The latest from China & Hong Kong

Over the past two months, we've observed a notable surge of Hong Kong companies rushing to meet the IRD (Inland Revenue Department) tax...

Hong Kong is renowned for its simple and low-tax regime, making it one of the most attractive jurisdictions for entrepreneurs,...

Hong Kong’s low and simple tax regime makes it one of the most business-friendly jurisdictions in the world. With a two-tier profits tax...

Hong Kong is widely recognised for its business-friendly tax regime—low corporate tax rates, a territorial basis of taxation, and the...

Hong Kong is globally recognized for its low-tax, business-friendly environment—and for good reason. The city has built a reputation on...

Every year, businesses operating in Hong Kong are required to meet critical tax reporting obligations through the filing of the Employer’s Return. This process, mandated by the Inland Revenue Department (IRD), ensures that employers accurately report all remuneration paid to employees and directors during the tax assessment year, which runs from April 1 to March 31. While Hong Kong’s tax system is relatively straightforward, the Employer’s Return process demands careful plann

On 26 February 2025, the Financial Secretary unveiled the 2025/26 Hong Kong Budget, outlining a variety of long-term strategies and...

Hong Kong is renowned for its simple and low-tax regime, making it one of the most attractive jurisdictions for entrepreneurs and...

Hong Kong is globally recognised for its low and simple tax regime, underpinned by a transparent and efficient legal system. However, this simplicity does not mean the tax environment is lenient when it comes to non-compliance. The Inland Revenue Department (IRD) has clear enforcement powers, and penalties for tax evasion can be severe, particularly for individuals and businesses that deliberately or recklessly attempt to avoid their tax obligations. Understanding what consti

Hong Kong is known for its competitive and straightforward tax system. One of the key features supporting businesses—especially startups and SMEs—is the two-tiered profits tax rate regime, which offers reduced tax rates on the first portion of a company’s profits. In this article, we explain how the two-tiered profits tax system works in Hong Kong, who qualifies, and how to take advantage of this business-friendly policy. What Is the Two-Tiered Profits Tax System? Introduced

Woodburn Global recently partnered with a medium-sized trading company based in Hong Kong that specializes in the import and export of consumer electronics. The business had been experiencing significant growth, resulting in increased revenues and operational complexity. The client turned to Woodburn for assistance with their tax compliance and audit processes to ensure they could navigate the intricacies of Hong Kong's regulatory environment while minimizing tax liabilities.

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

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

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

Hong Kong is globally recognized for its simple and low-tax environment, making it an attractive destination for businesses of all sizes....

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

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

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

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

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