As an international business hub, Hong Kong boasts an attractive tax system. However, tax audit, also known as field audit, can create concerns for taxpayers. In this article, we will delve into the intricacies of tax field audit on companies in Hong Kong and provide valuable insights on how to navigate through them. It’s important to note that not only

Tax Field Audit in Hong Kong

Highlights(1) Certificate of Resident Status (CoR)       The Hong Kong government relaxed the requirements for applying the Certification of Resident Status (CoR) in June 2023. However, the beneficial ownership requirements specified under State Taxation Administration Circular 2018 No.9 remains valid. Can a taxpayer enjoy the Double Taxation Agreement benefits with the CoR now(2) Foreign-sourced income exemption (FSIE)   

IMPORTANT UPDATE ON FOREIGN SOURCED INCOME EXEMPTION AND CERTIFICATE OF RESIDENT STATUS

Highlights (1) - What is NFT?        - Sharing basic concepts of NFTs        - How NFTs can be used in businesses?      Speaker : Mr. Kelvin Yu (Co-founder of Nx3 Studio Limited)(2) Taxation of Crypto Business       Speaker : Henry Kwong (Tax Partner at Cheng & Cheng) Speakers Henry Kwong Tax Partner Cheng

Fintechstic 2023

To address tax avoidance and double non-taxation, the Foreign-Sourced Income Exemption (FSIE) regime has been introduced in Hong Kong. The move was prompted by Hong Kong’s inclusion in a 2021 watchlist by the European Union (EU), which identified Hong Kong as one of the jurisdictions with potentially harmful tax regimes. The FSIE regime, effective from 1 January 2023, aims to

2023 Updated Guide to FSIE (Foreign-sourced Income Exemption regime)

Highlights 1. Current business environment overview: Trends related to offshore companies Behavior of foreign capital Our own "statistics" 2. Overview of Russian legislative measures to face Western sanctions: Current state of things Restrictive measures (sale of shares, dividends, payments abroad, etc.) Promoting measures (grey import, subsidies, etc.) 3. General overview of the Russian tax system 4. Overview of Russian anti-abuse

Chasing business opportunities in Russia

HighlightsExcel in your finance digital transformation by NetSuiteUse of Robotic Process Automation to accelerate financial opertaionsForeign Source Income Exemption (FSIE)SpeakersAndySales DirectorVantis Solutions LimitedTerry LeungSales DirectoRLaiyeHenry Kwong Tax PartnerCheng & Cheng Taxation Services Limited*Each participants with full attendance is entitled to 2.0 CPD hours.Date & Time7 March 2023 (Tue) 3:00 – 5:00pm LOCATIONLevel 35, Tower 1, Enterprise Square Five,38 Wang Chiu

Digital transformation for Finance operations