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.
Does the new FSIE regime impact your company’s tax liability on passive income? Should you take any actions, such as strengthening your economic substance in Hong Kong? Will it help to modify your current business and investment structure?
