Hong Kong is an international business centre that has a low, simple and competitive tax regime. Corporations and individuals can enjoy number of advantages when choosing Hong Kong as their destination for businesses and for work:
- Low rate of taxation for individuals and corporates;
- There are only three direct taxes, which are profit tax, salaries tax and property tax
- No capital gains tax, no withholding tax, no capital gain tax, no tax on dividends and no estate tax; and
- HK taxation only apples to income arising in or derived from Hong Kong (offshore income provides possible eligibility to make an “offshore claim”).
Our team can provide the following tax advisory and compliance services:
- Preparation of tax returns: it is required to complete tax return annually. For individuals, it is required to complete individual’s tax return and/or property tax return. For corporations and employers, it is required to complete profit’s tax return and employer’s tax return.;
- Appeals and disputes: it includes (i) offshore claims for companies whose has income deriving from offshore; (ii) handling objections against disputed assessments and holdover claims of provisional tax, and (iii) Negotiating with the IRD for tax investigation and tax field audit cases; and
- Tax planning – (i) formulating tax strategies on investment planning, group restructuring, mergers and acquisitions and pre-Initial Public Offering, (ii) matters in respect of transfer pricing that can satisfy Hong Kong requirements and group standard for efficient administration; and (iii) tax health check on existing operations from tax compliance perspective.