Tax and trade guide, Hong Kong

in [ ] : A. Andersen, 1978

Written in English
Published: Pages: 66 Downloads: 38
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Edition Notes

StatementArthur Andersen & Co.
LC ClassificationsMLCM 83/4329 (H)
The Physical Object
Paginationiv, 66 p. ; 27 cm.
Number of Pages66
ID Numbers
Open LibraryOL4741364M
LC Control Number78052758

HKTDC Research is an essential source of economic and trade information, providing free of charge the latest market intelligence, authoritative research, economic index and business guide on developed and emerging markets, spanning from Hong Kong, the mainland China and Asia to the US, Europe and Africa, and the rest of the world.   So right off the bat the corporate tax is lower than most first world countries around the world. We’re talking % taxes. This is for companies who have customers in Hong Kong, an office here in HK, or leveraging other services here such as a warehouse or doing business deals. US Tax of Hong Kong Income, Account & Assets U.S. Taxation of Hong Kong Income: A common question we receive is whether income earned in Hong Kong is taxable in the Hong Kong tax system is setup different than the tax system in the United States and the IRS tax and reporting compliance requirements are complicated.. Therefore, if you are a Hong Kong citizen and reside outside of Hong. A Q&A guide to tax on corporate transactions in Hong Kong. This Q&A provides a high level overview of tax in Hong Kong and looks at key practical issues including, for example, the main taxes, reliefs and structures used in share and asset sales, dividends, mergers, joint ventures, reorganisations, share buybacks, private equity deals and restructuring and insolvency.

No turnover tax (e.g. Value-Added Tax and Goods and Services Tax) has been imposed in Hong a result, Hong Kong is considered to be favourable for profit shifting and conducting re-invoicing activities. In July , Proposal of legislation of Goods and Services Tax (“GST”) was made by the Government, who argues that tax base in Hong Kong was urged to be broadened.   Hong Kong is one of the world's leading tax havens as low taxation on high-net-worth individuals and corporations has made it a favorite destination. Tax is exempted for income not sourced in Hong Kong (offshore income). ♦ No capital gains tax, no withholding tax on dividends and interest. ♦ No sales tax or VAT in Hong Kong. For details, please refer to our Hong Kong Taxation Guide: Free Trade & Free Market Economy ♦ Hong Kong is a free port - driven by principles of free trade and. 2 U.S. Commercial Service A Basic Guide to Exporting percent of total global GDP and 30 percent of global trade. These agreements, if ratified, will join agreements already in place, including the North American Free Trade Agreement (NAFTA) and the Central America and Dominican Republic Free Trade Agreement (CAFTA-DR).

“The China Tax Guide starts with an introduction to Chinese tax principles that have to be considered before the investment will be done. It explains the principles regarding the compliance framework in China as well. The China Tax Guide adresses to foreign investors, which will enter in . Hong Kong, special administrative region (Pinyin: tebie xingzhengqu; Wade-Giles romanization: t’e-pieh hsing-cheng-ch’ü) of China, located to the east of the Pearl River (Zhu Jiang) estuary on the south coast of China. The region is bordered by Guangdong province to the north and the South China Sea to the east, south, and west. It consists of Hong Kong Island, originally ceded by China.

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Tax and trade guide: Hong Kong. [Arthur Andersen & Co.] Home. WorldCat Home About WorldCat Help. Search. Search for Library Items Search for Lists Search for Book: All Authors / Contributors: Arthur Andersen & Co.

OCLC Number: Notes: Includes index. Description: iv, 66 pages: illustrations ; 26 cm. Wolters Kluwer annually published Hong Kong Master Tax Guide which has long been regarded as the leading provider in up-to-date guidance and in-depth analysis on taxation practice in Hong Kong for over two decades.

Expertly updates provided by PricewaterhouseCoopers Limited, the Hong Kong Master Tax Guide /19 is a consolidated and practical reference that provides comprehensive information on taxes in Hong Kong.

Recent developments and regulations governing the taxation of companies and individuals in Hong Kong are also covered. The book explains the principles and practice of Hong Kong taxation law together with the relevant Court and Board of Review decisions and contains numerous practical examples.

(3) I received income from a non-Hong Kong company for my employment 32or services rendered in Hong Kong. (4) My employer(s) paid Salaries Tax for me. State all employers from which you derived income chargeable to tax during the year, including part-time jobs (Do not include any business(es) in which you or your.

Tax Registration and Procedures. Tax Exemption and Reduction. Tax Rebate (Exemption) on Exports. the Hong Kong Trade Development Council is not responsible for any errors. Views expressed in Guide to Doing Business in China are not necessarily those of the Hong Kong Trade Development Council.

A China business guide featuring such topics as setting up a company in China, import and export procedures, inspection and quarantine of goods, tax exemption and reduction, foreign exchange control, financial systems, accounting standards, recruitment channels, and Hong Kong book procedures.

Patents and trademark info can also be found. Hong Kong Profits Tax Hong Kong is world renowned for Hong Kong book simple and low tax regime, making it one of the most business-friendly jurisdictions in the world.

This guide provides a detailed overview of income tax rates, corporate tax system, profits tax return, and tax incentives for Hong Kong companies. Arrangement of Profits Tax for Non-residents of Hong Kong. The basic principle of taxation in Hong Kong: Every person carrying on a trade, profession or business in Hong Kong — who has profits arising in or derived from Hong Kong book Kong — is chargeable to Profits tax.

Therefore, profits tax applies to BOTH Hong Kong residents and non-residents. Worldwide Estate and Inheritance Tax Guide. Worldwide Personal Tax and Immigration Guide. Worldwide R&D Incentives Reference Guide. Worldwide Transfer Pricing Reference Guide. Worldwide VAT, GST and Sales Tax Guide.

Jurisdiction. All jurisdictions. Filter by jurisdictions. Asia-Pacific. European Union. India. South Africa. United Arab Emirates. Hong Kong's Inland Revenue Department has released new guidance notes on the deduction of foreign taxes.

Generally, all outgoings and expenses, to the extent to which they have been incurred by the taxpayer in the production of chargeable profits, are allowed as deductions, as set out in Section 16 of the Inland Revenue Ordinance.

A daunting task for some, this guide will take you through the important corporate tax regime in Hong Kong. It might ease your mind a little to first know that Hong Kong generally has a highly attractive hong kong tax regime like profit tax stamp duty in Hong Kong, with low personal and corporate tax rates.

He worked in banks of Hong Kong for 10 years from the early s to the early s as a senior officer. Sincehe has taught in local universitites. Specializing in commercial banking and trade finance, Dr. Luk has trained many banking professionals in Hong Kong and s: 5. The Hong Kong SAR Government is committed to upholding the rule of law, which has played a vital role in Hong Kong SAR's success in the past.

Hong Kong SAR is one of the freest economies in the world. Hong Kong SAR became a member of the Asia Pacific Economic Cooperation in and a member of the World Trade Organization (WTO) on 1 January The FastLane Group’s first e-book focuses on Taxation in Hong Kong – sharing guidance, advice and a comprehensive overview of the requirements and processes.

This e-book will break down the principles of tax in Hong Kong, explain the Profits Tax Return, audit and tax submissions and Profit Tax Exemption, giving guidance and assistance by.

Hong Kong SAR adopts a territorial basis of taxation. Profits tax is payable by every person (defined to include corporation, partnership, and sole proprietorship) carrying on a trade, profession, or business in Hong Kong SAR on profits arising in or derived from Hong Kong SAR from that trade, profession, or.

Hong Kong is increasingly positioning itself as the start-up hub of the Asia-Pacific. As of Novemberthere were 2, start-ups in Hong Kong, an 18% increase from Support for new companies Foreign and local companies compete on equal terms, as there’s no protection of local businesses or trade barriers in Hong Kong.

Hong Kong’s tax year is over a fiscal period running from April 1 to the following Ma known as a year of assessment. When to file. In general, individual tax returns (Form BIR60) are issued by the Inland Revenue Department (IRD) in the beginning of May each year.

Online Services for Business & Trade. Government Forms for Business & Trade. Government Websites & Officers. Non-Residents. Profits Tax for the Self-Employed. Property Tax. Tax Return Filing, Enquiry & Payment. Stamp Duty. Entry to Hong Kong during the Fight Against Novel Coronavirus.

Best of All It's in Hong Kong. Hong Kong. PKF Worldwide Tax Guide /16 5. carrying on a trade, business or profession in Hong Kong. Income derived outside Hong Kong is generally exempt from tax. In the case of a financial institution carrying on business in Hong Kong, foreign sourced interest income is treated as taxable income in Hong Kong.

No distinction is made. Residence is generally not relevant for Hong Kong tax purposes. Rather, the basis for taxation is whether or not a person carries on a trade or business in Hong Kong.

Nevertheless, the concept of residence can be relevant for the purposes of Hong Kong tax treaties as well as certain exemptions (such as the offshore fund profits tax exemption). US requires imports of Hong Kong goods to be marked as goods of China 13 August, On 11 AugustUS Customs and Border Protection (“CBP”) published a general notice in the Federal Register notifying the public that it will adjust the country of origin marking requirements on Hong Kong goods, as mandated by President Trump’s.

02/11/ Year-end tax planner – Helping individuals and owner-managed businesses save tax. The Year-end tax planner is designed primarily for individuals who have accumulated some wealth or own their own businesses (large or small). Guide to Hong Kong Income Tax Rates and Income Tax System Hong Kong’s tax system is governed by the Inland Revenue Ordinance and its subsidiary legislation, the Inland Revenue Rules.

These authorities govern the corporate and individual taxation matters in Hong Kong. Hong Kong Taxation and Investment strategic role has become more entrenched, along with the further expansion of economic cooperation and integration with the mainland, and with the Pearl River delta region in particular.

Tax incentives. Hong Kong does not offer targeted incentive regimes to overseas investors or foreign-owned firms. Information about the tax year and filing your tax return in Hong Kong The Hong Kong tax year is 1 April to 31 March. Tax reporting must be done on the specific tax return issued by the Inland Revenue Department (IRD), as this has a unique bar code.

Income tax returns are typically mailed to taxpayers in early May and must be returned within one month after the issue date, although a time.

For further information, see the ATO’s Guide for employers. Australian tax treaties. Australia has tax agreements with more than 40 countries. These tax agreements, or treaties, aim to prevent double taxation and promote cooperation between international tax authorities. The Hong Kong Stock Exchange is the sixth largest in the world, with a market capitalisation of about US$ trillion as of mid Inthe value of initial public offerings (IPO) conducted in Hong Kong was second highest in the world after London.

InHong Kong raised 22 percent of IPO capital, becoming the largest centre of IPOs in the world. The Corporate Tax Rate in Hong Kong stands at percent. Corporate Tax Rate in Hong Kong averaged percent from untilreaching an all time high of percent in and a record low of 16 percent in This page provides - Hong Kong Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In Hong Kong, that would be the Business Registration number. You do not apply for it, you get it automatically at the time you register the company. For Hong Kong company registration you can check. The U.S. trade surplus with Hong Kong is the single largest with a U.S. trading partner, with a surplus in 8 of $3 1 billion, owing largely to Hong Kong imports of American aircraft and spacecraft, electric machinery, pearls, gold, diamonds, works of art, meat, fruit and nuts.Hong Kong's basis of taxation on profits from businesses.

Hong Kong adopts a territorial basis for taxing profits derived from a trade, profession, or business carried on in Hong Kong. Profits Tax is only charged on profits which arise in or are derived from Hong Kong.A tariff is a tax imposed by a government on imports or exports of goods.

Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry.