On 22 February 2017, the Financial Secretary of the Hong Kong Special Administrative Region (“Hong Kong”), announced the Budget for the fiscal year 2017-18. According to this Budget, the fiscal year 2016-17 is likely to have a surplus of HK$ 92.8 billion, which significantly exceeds the original estimated amount of HK$ 11 billion, largely due […]
Trust & Company Service Providers (“TCSP’s”) in Hong Kong would require a license issued by the Registrar of Companies in Hong Kong.
Pursuant to the general charging provision of Section 14(1) of the Inland Revenue Ordinance (‘HK-IRO’), an income is NOT liable to profits tax (corporate income tax) if it is (i) not derived from a trade, profession or business carrying on in Hong Kong and/or (ii) not arising in or derived from Hong Kong (i.e. sourced […]
On 24 February 2016, the Financial Secretary of Hong Kong, Mr. John Tsang Chun-wah, delivered his 9th budget speech for the fiscal year 2016-17. As highlighted by Mr. Tsang at the beginning of his speech, amid the commencement of increment of interest rate by the US Federal Reserve Board, the maintenance of quantitative easing policies […]
