Tax & Accounting

Navigating Hong Kong’s Annual Employer’s Return: Compliance and Best Practices


The Annual Employer’s Return filing in Hong Kong begins on the first working day of April and should be completed within one month. Employers are advised to start preparations early and allocate sufficient resources to meet this tight deadline.

Tax Filing for Outbound Payments in China: A Complete Guide


When an individual or organization in China makes a single outbound payment to overseas entities that exceeds the equivalent of US$50,000, the payer must complete tax filing for outbound payments with the local branch of the STA, with limited exceptions.

China Monthly Tax Brief: February 2024


In this monthly China tax brief, we spotlight policies and measures announced or scheduled for implementation in February 2024. These initiatives aim to clarify tax compliance, support businesses, promote headquarters, expand market access, and attract talent.

Hong Kong Budget 2024-2025 – Government Implements New Tax Arrangements and Extends Funding Schemes


The 2024-25 Hong Kong Budget introduces new tax arrangements to raise public funds and extends support policies for companies and individuals.

Hong Kong Removed from EU Watchlist Following Changes to Regulations on Foreign-Sourced Income


Under new rules on foreign-sourced income exemption, MNEs that don’t meet certain substance requirements may be taxed on some types of income derived overseas.

China Annual IIT Reconciliation in 2024: Everything You Need to Know


June 30 is also the deadline for China’s annual IIT reconciliation for the year 2023. Individual taxpayers who have not yet completed this process should act promptly.

China Extends 15% CIT Rate to Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone


Certain businesses in Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone (HTCZ) will qualify for a 15 percent corporate income tax (CIT) rate. We discuss the eligibility criteria and explain China’s preferential CIT policy.

China Monthly Tax Brief: January 2024


In this monthly China tax brief, we highlight January 2024 policies and measures announced for supporting businesses, expanding market access, facilitating cross-border tax payment and refund, and increasing tax certainties.

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