Hong Kong introduces new exclusions on disposal gains to Foreign-sourced Income Exemption regime
Kristina Koehler-Coluccia
Setting up companies in China for over 20 years | Specialized in China accounting, tax and payroll
This week's top 2?articles from Woodburn
No 1 Hong Kong introduces new exclusions on disposal gains to Foreign-sourced Income Exemption regime
Hong Kong tax authorities have decided to strengthen?current legislation to better combat cross-border tax avoidance arising from double non-taxation, targeting more specifically offshore passive income such as dividends, disposal gains in relation to shares or equity interest, interest income,?and?income from intellectual property.?The Inland Revenue Taxation on Specified Foreign-sourced Income Bill 2022 (the Bill), which came into effect January of 2023, was created to update the Foreign-sourced Income Exemption (FSIE) regime to maintain?Hong Kong’s tax competitiveness.?
No 2 Hong Kong supports businesses, technology and talent through incentive programs ?
In order to?keep the city’s competitiveness, Hong Kong’s government offers companies a number of?benefits, including?programs to support businesses, research?and innovation, as well as cultivate talent, and nurture startups.?International companies and investors have long been attracted to Hong Kong’s pro-business environment and beneficial tax policies.? Additionally, the government offers?a number of?funding schemes aimed at fostering business growth and innovation.
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