The gains or profits earned from NFTs are often not insignificant. Therefore, it’s recommended to understand any crypto tax reporting requirements and the tax consequences in your specific jurisdiction.
Tax depreciation allowances for the expenditure of fixed assets are available to Hong Kong taxpayers subject to profits tax. It is normally granted on the condition that such fixed assets were acquired to generate assessable income for the taxpayer. However, pursuant to the Hong Kong tax laws, expenditure of capital in nature are not tax […]
Despite its lack of government oversight, governments and tax authorities are starting to set up frameworks to tax crypto currencies.
Many people assume that the services of a tax advisor are only for the rich or that you just don’t need one. But most of the time, you would be better off when using a tax consultant or advisor. The tax system in Hong Kong is simple but not straightforward. It can be challenging to […]
