You will find here all the Hong Kong Tax newsletters released in 2012 and 2013.
Dec. 2013 - Latest view of the Inland Revenue Department on waiver of debt
The Hong Kong Institute of Certified Public Accountants (HKICPA) holds annual meetings with the Inland Revenue Department (“IRD”) to exchange views to clarify interpretation of practical tax issues which are of interests to taxpayers.
Nov. 2013 - Holding over of 2013/14 provisional tax
For taxpayers having financial difficulties due to fall in earnings, other than having the tax paid by instalments or making borrowings, it may also be a solution to have the 2013/14 provisional tax wholly or partly held over.
Nov. 2013 (special issue) - Nice Cheer!
The Court of Final Appeal (“CFA”) handed down its judgment in Nice Cheer Investment Limited (“Nice Cheer”) v Commissioner of Inland Revenue (“CIR”) on 12 November 2013, confirming the lower courts’ decision that unrealised gains in respect of Hong Kong listed securities being held for trading were not “profits” chargeable to tax in Hong Kong.
Oct. 2013 - Case study: Section 82 of the Inland Revenue Ordinance
The Government has issued a press release concerning a case under Section 82 of the Inland Revenue Ordinance (“IRO”).
A former Senior System Engineer of a bank was convicted on four charges of evading property tax and salaries tax by omitting to report rental income and making false statements in connection with claims for deduction of home loan interest.
A former Senior System Engineer of a bank was convicted on four charges of evading property tax and salaries tax by omitting to report rental income and making false statements in connection with claims for deduction of home loan interest.
Aug. 2013 - Late filing consequences for overdue tax profits
Under the 2012/13 block extension scheme, the extended due date for filing the 2012/2013 profits tax return for corporations and partnership businesses with accounting year end dates falling within 1 to 31 December 2012 was 15 August 2013, which has just lapsed.
If you have missed this deadline, what may be the consequences?
If you have missed this deadline, what may be the consequences?
Jun. 2013 - Application for certification of resident status
Hong Kong has concluded twenty-nine Comprehensive Double Taxation Agreements ("CDTAs") as of the date of this newsletter, with another ten CDTAs being under negotiation with the respective countries / territories.
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