… You may find these Hong Kong tax and accounting guides also useful in helping you make your decision:Learn about Hong Kong tax treaties with other countries that prevent double-taxation for your business. Hawksford can partner with you as your bookkeeper, controller, business advisor, part-time CFO- or your entire Accounting and Finance department. For tax purposes, non-resident individuals are foreigners who have stayed or worked in Hong Kong for less than 180 days in the tax year. Tax must be withheld for fees due to a non-resident entertainer or sportsman for:The withholding tax rate varies depending upon whether the Hong Kong promoter or sponsor entered into an agreement directly with the non-resident entertainer or sportsman; or if the agreement was made with a non-resident agent i.e. In such case, the tie breaker rules in clauses 2 and 3 of Article 4 will be used to determine the residence status of that person.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Partner, PwC Hong Kong Hong Kong SAR) Tax Leader, PwC China
Depending on your company’s needs, Hawksford can work with you as your bookkeeper, accountant, comptroller or a business advisor. Please see www.pwc.com/structure for further details Email Cecilia Lee Partner, PwC Hong Kong Tel: +[852] 2289 5690 . Asia Pacific Financial Services Tax Leader, PwC Hong Kong Tel: +[852] 2289 3026 .
The year in review: the momentum of refinement of the Hong Kong's tax system continued in 2019. When there is a rent-free period in an operating lease, the tax deductible amount is the rent payable for the lease period average out evenly over the rental period. See how Hong Kong stacks up against your home country.
Contact us now. Partner, PwC Hong Kong 2 PwC News Flash — Hong Kong Tax Consistent with 2017 annual meeting, the IRD continued to view that lease payments would be deductible if the general deduction rules under sections 16 and 17 of the IRO are satisfied. This site uses cookies to offer you a better browsing experience. China South Tax Leader, PwC Hong Kong 1. A non-resident company or individual that derives income from a Hong Kong source, for services provided or work done in Hong Kong, is liable to pay tax in Hong Kong.When a Hong Kong-resident company or individual makes specific types of payments to a non-resident entity for services rendered in Hong Kong, a certain portion of the payment must be withheld and paid to Hong Kong’s Inland Revenue Department. The Hong Kong Internal Revenue Department (IRD) issued a revised Departmental Interpretation and Practice Note 28 (DIPN 28). Share this page Note that the information provided is for general guidance only and not meant to replace professional advice.A non-resident company is one whose central management and control is exercised from outside Hong Kong.
Learn why Hong Kong companies must maintain proper books of accounts and satisfy statutory audit requirements on an annual basis.What are the taxable incomes for Hong Kong companies? You can find how we use these by clicking "More info" or click "Accept" to agree Asia Pacific Financial Services Tax Leader, PwC Hong Kong New skills. All rights reserved. Copyright © 2008-2020 Hawksford. Understand how to calculate Hong Kong corporate tax, also known as profits tax, in a correct way.Get an overview of the ongoing statutory compliance and annual filing requirements for Hong Kong private limited companies.Depending on your company’s needs, Hawksford can work with you as your bookkeeper, accountant, comptroller or a business advisor.
Withholding tax is the tax charged to a non-resident entity that derives income from a Hong Kong source for services provided or work done in Hong Kong. Royalty payments made to a non-resident company or individual for the use of The withholding tax rates for royalty payments vary depending upon whether the non-resident recipients are associates or non-affiliates of the Hong Kong company.The following entities are regarded as ‘associates’ of the Hong Kong entity:
Consumer Markets Tax Leader, PwC Hong Kong
The territorial principle does not distinguish between residents and non-residents. Issue-based services COVID-19: Responding to the economic and business impacts Belt and road Cyber Entrepreneurial and private business Greater Bay Area Outbound investment New world. Partner, PwC Hong Kong