Hong Kong News

Hong Kong Issues 2020-21 Tax Returns
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, April 6, 2021
On April 1, 2021, the Hong Kong Inland Revenue Department began issuing profits tax, property tax, and employer's returns for the year of assessment 2020-21. Read Full Story

Hong Kong Tables Tax Law Administration Bill
by Mary Swire, Tax-News.com, Hong Kong
Thursday, March 25, 2021
Hong Kong tabled the Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 in parliament on March 24. Read Full Story

Hong Kong Adopts Law To Cut Stamp Duty Rates
by Mary Swire, Tax-News.com, Hong Kong
Friday, March 19, 2021
Hong Kong has passed legislation to abolish the doubled ad valorem stamp duty rates applicable to non-residential property transactions with effect from November 26, 2020. Read Full Story

Hong Kong Announces Tax Relief In 2021-22 Budget
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, March 3, 2021
Hong Kong will grant taxpayers a waiver of up to HKD10,000 (USD1,290) of profits tax, salaries tax, and tax under personal assessment, the territory announced in its 2021-22 Budget. Read Full Story

Hong Kong Provides Tax Concessions For Carried Interest
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, March 3, 2021
The Hong Kong Government has gazetted legislation to provide tax concessions for carried interest distributed by eligible private equity funds operating in Hong Kong. Read Full Story

Russia's Cabinet Approves Maltese DTA Amendments
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, September 22, 2020
Russia's Government has approved wording for a draft Protocol that it will seek to conclude with Malta, to revise their double tax agreement to increase withholding tax rates at source for cross-border dividends and interest income. Read Full Story

Cyprus, Russia Agree Tax Hike On Cross-Border Dividends, Interest
by Lorys Charalambous, Tax-News.com, Cyprus
Monday, September 14, 2020
Russia's Ministry of Finance has announced that it signed a Protocol to amend its double tax agreement with Cyprus on September 8, 2020. Read Full Story

Russia Turns Sights To Switzerland, Hong Kong Treaties
by Ulrika Lomas, Tax-News.com, Brussels
Tuesday, August 18, 2020
Russia's double tax agreements with Hong Kong and Switzerland are next on the radar for authorities in Russia, who are seeking to ensure the country can subject to at least 15 percent withholding tax outbound dividends and interest payments. Read Full Story

Hong Kong Lawmakers Endorse CIT Cut For Insurers
by Mary Swire, Tax-News.com, Hong Kong
Friday, July 17, 2020
Hong Kong's Legislative Council has passed a bill to reduce the profits tax for certain insurance businesses. Read Full Story

Hong Kong Releases New Guidance On Advance Rulings
by Mary Swire, Tax-News.com, Hong Kong
Friday, May 1, 2020
Hong Kong has updated its guidance on advance rulings, to reflect changes to Hong Kong's practices as a result of its efforts to comply with the OECD's minimum standards proposed as part of the base erosion and profit shifting (BEPS) Action Plan. Read Full Story
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