Proposed changes to Hong Kong’s foreign source income exemption regime for passive income are expected to come into force on 1 January 2023 with no transition period. All kinds of offshore passive income received by a constituent entity of a multinational enterprise group shall be deemed to be sourced in Hong Kong and, therefore, subject to profits tax in certain cases.
With more sources of data input that go beyond the limits of historical data coming into play, the nature of the audit process will undergo a transformation: from an essentially reactive exercise delivered in hindsight into an increasingly forward-oriented and anticipatory endeavour. In this article, we discuss different ways technology is reshaping the landscape of audit and the concomitant risks.
The Hong Kong government promulgated the Inland Revenue (Amendment) (Tax Concessions for Certain Shipping-related Activities) Ordinance 2022 (“the Ordinance”) on 22
Fintech has transformed our daily lives in all aspects, from banking, money transfers, lending, capital management, etc. In Hong Kong, developing
After incorporating your Hong Kong company, opening a corporate bank accent is vital to starting your business. The international communities have
