HENRY KWONG & TAX
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Henry Kwong, Tax Partner, Cheng & Cheng Taxation Services Ltd, analyses the latest guidance from Hong Kong’s Inland Revenue Department (IRD) on the unified funds tax exemption regime and carried interest tax concessions.With the aim of upholding Hong Kong’s position as ‘a premier international asset and wealth management centre’ in the face of fiercer competition, the HKSAR Government introduced a
Cheng and Cheng Taxation Services Limited (Cheng and Cheng Taxation), one of the top 20 accounting firms in Hong Kong, reviews the Inland Revenue Department's latest draft legislation and guidelines on amendments to the taxation of foreign-sourced passive income, under which dividend income will no longer automatically be 100% non-taxable in Hong Kong, while offshore claims in Hong Kong will
After implementing Transfer Pricing Law for a few years, Hong Kong Inland Revenue Department is now ready to impose more Transfer Pricing Audit on Hong Kong Tax Payers and request taxpayers to prepare and submit Transfer Pricing Documentation. Cheng & Cheng Taxation Services Limited (“Cheng & Cheng Taxation”) will further reveal the importance of balancing interests of HKIRD in Transfer
A surprising number of multinational corporations fail in their application for an offshore claim in Hong Kong, even when they have no personnel physically present in the jurisdiction.Hong Kong is famous for its simple taxation system and low tax rate, and its territorial taxation concept has attracted many Mainland China enterprises and multinational corporations (MNCs) to set up trading companies
Hong Kong is famous for its simple taxation system and low tax rate, so would most probably be the first set-up to consider when investors enter the Asian market (particularly the Mainland China market). However, without a better understanding of the benefits, investors may not realise just how attractive Hong Kong is. Cheng & Cheng Taxation Services Limited (Cheng &
Taxation can be an effective tool for influencing corporate behaviour. Cheng & Cheng Taxation Services Limited ("Cheng & Cheng's Taxation") regards it is the reason why many jurisdictions are devoting huge amounts of resources in an effort to attract research and development (R&D) centres. In this, Hong Kong is no exception.A 'super tax deduction' on certain R&D activities was introduced
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