Hong Kong is one of the more than 100 jurisdictions that will participate in the automatic exchange of financial account information (“AEOI”)/implement the Common Reporting Standard (“CRS”) for the purpose of enhancing tax transparency and fighting against cross-border tax evasion.
Corporations should review how the new FSIE regime will impact their tax liability of their passive income and whether any actions should be taken.
Employer’s Returns are issued to companies/organisations for reporting the remuneration paid/accrued by the companies/organisations to their directors and employees, if any, during each year ended 31 March.
A service PE is maintained by a foreign entity in Mainland China, the relevant individuals assigned to Mainland China will potentially be exposed to Mainland China individual income tax, irrespective of whether or not the individuals stayed in Mainland China for more than 183 days in a year.
