there are different tax deductions and allowances available under the Hong Kong tax regimes and the availability of them depends on the circumstances of the taxpayer.
Do you have a Hong Kong company or are you looking to set up one? Every Hong Kong company has to file an Annual Return, as stated Companies Ordinance.
The Hong Kong Inland Revenue Ordinance (“IRO”) imposes strict requirements for individual returns filings and aims at avoiding the filing of incorrect tax returns by the individuals. If those requirements are not met, the relevant punitive provisions empower the Commissioner of Inland Revenue, depending on: The nature and/or the degree of culpability of the offence […]
