Posts tagged as:

taxpayer

Hong Kong Issues Guidelines on the Exchange of Tax Information

June 22, 2010

On June 9, 2010, the Inland Revenue Department (“the Department”) published its Departmental Interpretation and Practice Note No 47 “Exchange of Information under Comprehensive Double Taxation Agreements”. Although, as I have previously noted, the Department does not feel bound by its own Practice Notes, they nonetheless provide genuine guidance as to the normal Departmental [...]

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The Cost of A Tax Appeal – The IRD Knows It!

July 6, 2009

Hong Kong’s objection and appeal procedures against tax assessments raised by the Inland Revenue Department (“the Department”) can be costly should a taxpayer wish to pursue his right of objection.
Firstly, if a taxpayer wishes to appeal against an assessment, he may be required to purchase a tax reserve certificate (“TRC’s”). Notwithstanding that it is estimated [...]

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Tax Free Perks for All

June 26, 2009

I was delighted to receive a question from a reader of my ‘Rants’.  I have to admit that I was more surprised to learn that people read my blog rather than the fact that people would like to have questions answered.
The reader rightly enquired whether Government employees/ legislative councilors clearly using Government vehicles for their [...]

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The fight for offshore profits claims continues

April 14, 2009

For many years Hong Kong manufacturing companies have taken advantage of the considerably lower labour costs in other Asian countries, particularly Mainland China.  Inevitably the nature of these arrangements varies but a large number of enterprises have established their own manufacturing/assembly plants in Mainland China.
Structured correctly, such arrangements may also reduce the tax burden of [...]

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