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This is an appeal case concerning whether an individual is liable for additional penalty tax for signing an incorrect profits tax return for a company in which he/she holds a directorship.

Passed on December 18, 2024, the Inland Revenue (Amendment) (Tax Deductions for Leased Premises Reinstatement and Allowance for Buildings and Structures) Bill 2024 ("Lease Reinstatement Costs Bill") amends the Inland Revenue Ordinance ("IRO") to permit tenants of leased premises...

On 27 February 2008, the Hong Kong Financial Secretary presented his budget for the fiscal year 2008–09 against a background of soaring government revenues for the year ending 31 March 2008.

If you are looking to do business in the Asia Pacific region, Hong Kong is internationally recognised as one of the best places to be. With multinational access to the region, as well as acting as a ‘gateway to China'...

On November 11, 2012, Canada signed a tax treaty with Hong Kong .

In late February Hong Kong’s Secretary for Financial Services and the Treasury, Professor K C Chan and Jersey’s Chief Minister, Senator Ian Gorst, signed a compensative Double Taxation Treaty ("DTA").

The Financial Secretary of the Hong Kong SAR Government, the Honourable Mr. Paul Chan Mo-po delivered the 2022-23 Budget Speech in the Legislative Council on 23 February 2022.

Hong Kong's government has proposed significant changes to stamp duty relief rules following court decisions that restricted intra-group transfers. The new legislation aims to expand eligibility beyond traditional share capital structures and lower the ownership threshold from 90% to 75%.

On 29 October 2012, we published a legal update on the introduction of the Buyer's Stamp Duty (BSD) and the adjusted rates and extension of the holding period in respect of the Special Stamp Duty (SSD).

Companies engaged in the production of key supplies for epidemic prevention and control can apply for full refund of incremental retained VAT on a monthly basis.

As we enter 2004 and the Year of the Monkey, China is facing increasing pressure from the rest of the world to revalue its currency and to remove other perceived artificial benefits to exporters.

Just over a year has passed since Hong Kong lifted the last COVID-19 measures, but the city is still facing challenges in recovering its economy to pre-COVID levels.

As an attempt to cool off the residential property market, the Hong Kong Government, announced that the Stamp Duty Ordinance would be amended to increase the AVD rates for ALL residential property transactions.

According to the <China Advance Pricing Agreement Annual Report (2024)> ("APA Annual Report"), the Chinese tax authorities signed 39 APAs in 2024, including 12 unilateral APAs and 27 bilateral APAs.

In August 2015, the Organisation for Economic Co-operation and Development (OECD) published the first edition of the Common Reporting Standard (CRS) Implementation Handbook...

The HKSAR Government is currently conducting a stakeholder consultation on its proposals to enhance the intellectual property (IP) tax deduction regime in Hong Kong SAR (Hong Kong).

A major legal impediment to Chinese private equity investments appears to have been repealed, although it is not yet clear whether the new regulatory regime will in fact make it easier to actually implement such investments.