One of the most disputed areas is regarding source or taxability of income and offshore claims.
Hong Kong announced the Budget for the fiscal year 2023-24 with the theme ‘Leaping Forward Steadily, Together We Bolster Prosperity under Our New Vision’.
A sustainable tax practice involves being aware of a company’s tax “footprint” and whether it aligns with the policy intent, having the right risk control and management processes in place, and accepting accountability for the consequences of a company’s actions.
With an advance ruling, you can confidently plan their transactions with the assurance that the tax treatment has been agreed in advance and to avoid tax disputes.