News

Further to our newsletters dated 10 Apr 2020 and 20 May 2020 which introduced the Employment Support Scheme (“ESS”) launched by the Hong Kong government, our office has prepared a step-by-step guide to assist applicants to apply for the ESS. Please refer to enclosed guide for reference when you / your company apply for this […]

The Innovation and Technology Commission (ITC) has launched the Distance Business (D-Biz) Programme to support enterprises to continue their business and services during the epidemic. The D-Biz Programme provides funding support through fast-track processing for enterprises to adopt IT solutions for developing distance business. Each enterprise may receive total funding of up to HK$300,000. Please […]

The Hong Kong government has announced the second round of $ 137.5 billion anti-epidemic fund measures on 8 April 2020. One of the main objectives is to promote job retention, job creation and job advancement. The relief measures include the followings: 50% wage subsidy for each employee, capped at monthly wage of HK $ 18,000, […]

The Inland Revenue Department has recently announced the extension of tax deadlines, including the payment of tax, to 4 May 2020 as well as the arrangements for issue of tax returns for the year of assessment 2019/20. Please find attached our newsflash for details. If you have any questions on the above, please feel free […]

The application for the anti-epidemic fund for retail sector will be open for application on 23 March 2020 (Mon). Each eligible retail store will receive a one-off subsidy of HK$80,000. Please find enclosed the slides for details of the coverage, eligibility and application of this subsidy. If you have any questions on the above or […]

The Hong Kong government has recently published the 2019/20 Budget and set up an Anti-epidemic Fund to provide timely assistance to enterprises and members of the public hard hit by the Covid-19 outbreak. Please find attached an overview of the subsidies, waivers and tax measures that will be available to various business sectors. Should you […]

Hong Kong adopts a territorial basis of taxation. This means that only profits which have a source in Hong Kong are taxable in its territory. The following link explains how a taxpayer can lodge a claim for the Offshore Tax Exemption in Hong Kong: Hong Kong Offshore Tax Regime dated 22 Jan 2020

Hong Kong, 17 December 2019 The Inland Revenue and MPF Schemes Legislation (Tax Deductions for Annuity Premiums and MPF Voluntary Contributions) (Amendment) Ordinance 2019, enacted on 29 March 2019, provides tax deductions for qualifying annuity premiums and tax deductible MPF voluntary contributions. The deductions are applicable to taxpayers chargeable to salaries tax or tax under […]

Hong Kong, 21 March 2019 The Council of the European Union adopted a revised EU list of non-cooperative jurisdictions for tax purposes on 12 March 2019. The list was initially set up in December 2017 to promote good governance in taxation worldwide with an aim to contribute to efforts on prevention of tax avoidance and […]

Hong Kong, 31 October 2018 The base erosion and profit shifting (“BEPS”) and transfer pricing (“TP”) Bill, namely the Inland Revenue (Amendment) (No.6) Bill 2017 (the “Bill”), was passed by the Legislative Council on 4 July 2018 and came into force on 13 July 2018. The Bill amends the Inland Revenue Ordinance (Cap. 112) (“IRO”) […]