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In his Budget delivered on 26 February 2020, the Financial Secretary of HKSAR proposed the following major measures: Cash payout Proposed a $10,000 cash payout to Hong Kong permanent residents… read more →
The Hong Kong Government has set up a HK$30 billion virus relief fund, a summary is listed as below: The Hong Kong Government will continue to acquire surgical masks globally.… read more →
On 7 February 2020, the Shenzhen Municipal Government issued various measures to support enterprises under the coronavirus crisis. The summary is listed as below: Proposed a number of measures to strengthen… read more →
The State Administration of Taxation has issued a number of tax incentives which are summarized as below: 1. Support for virus prevention individuals: Particular income of Individuals participating in preventing… read more →
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… read more →
The Inland Revenue Department issued new Departmental Interpretation and Practice Notes The Inland Revenue Department (“IRD”) issued the following Departmental Interpretation and Practice Notes (“DIPN”): DIPN 58 – Transfer Pricing… read more →
Mainland and HKSAR signed the Fifth Protocol to the Arrangement between the Mainland of China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation and the… read more →
On 15 August 2019, the Financial Secretary of HKSAR announced the following measures: I. For enterprises 1. Waive 27 groups of government fees and charges for 12 months. 2. Reduce… read more →
The Inland Revenue Department issued the revised Departmental Interpretation and Practice Notes 28 Departmental Interpretation and Practice Notes No. 28 has been updated to set out the Department’s interpretation and… read more →
To support the development of the technology enterprises such as Huawei, ZTE, etc., in May 2019, the Government announced the preferential CIT policies for the IC and software industry that:-… read more →