The Hong Kong Government announced on 4 December 2019 a further relief measure on tax payment. For instalment plans approved by the Inland Revenue Department allowing taxpayers in financial difficulties for settlement of Salaries Tax, Profits Tax and Personal Assessment demand notes issued between December 2019 and the year 2020 for the Year of Assessment 2018/19, provided that the instalment plans are duly adhered to, no surcharge will be imposed for a maximum period of one year counting from the respective due dates of the demand notes.
The Inland Revenue (Amendment) (No. 6) Ordinance 2018 has codified the transfer pricing rules and documentation requirements. DIPN Nos. 58, 59 and 60 have been issued to set out the Department’s interpretation and practice on the relevant rules and requirements, and the latest international standards relating to transfer pricing.
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We assist clients to establish and operate companies in Hong Kong and offshore in compliance with all the applicable laws, regulations and rules. Tax services With our expertise in Hong Kong and mainland China tax, coupled with our knowledge of tax equalization, we ensure compliance for transfer pricing, off-shore planning, reviews and claims.
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