One can potentially enjoy a significant withholding tax saving on the distribution/payment of dividends, interests or royalties from out of Mainland China by applying the Mainland China DTAs, subject to certain conditions.
This Budget has been prepared with a Focus on supporting enterprises, safeguarding jobs, stabilising economy and strengthening livelihoods in contrast with the previous Hong Kong 2018-2019 Budget.
Due to global implementation of common reporting standard (CRS) and automatic exchange of information (“AEOI”), financial institutions (“FIs”) are required to conduct due diligence on tax residency certificate holders to ascertain their tax residency, and accordingly whether certain information of the financial accounts of the account holders is required to be exchanged to foreign tax […]
The Individual Income Tax Law (‘IIT Law’) of Mainland China was introduced in 1980 and has been amended 6 times since.
