On 21 February 2023, Hong Kong has deposited its instrument of approval for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS Convention).
Pursuant to Article 35(7)(b) of the Convention, the People’s Republic of China on behalf of the HKSAR hereby notifies the confirmation of the completion of the HKSAR’s internal procedures for the entry into effect of the provisions of the Convention with respective agreements.
Related Posts
On 28 March 2024, the Hong Kong Inland Revenue Department published the Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Bill 2024 in the Gazette to implement the "patent box" tax incentive. The draft bill proposes a
Read More The Hong Kong Inland Revenue Department (IRD) has released a Circular Letter to Tax Representatives regarding the Block Extension Scheme for the Lodgement of 2023/24 Tax Returns. According to the letter, the Block Extension Scheme will be accessible
Read More On 28 February 2024, the Financial Secretary of Hong Kong presented the 2024-25 Budget. The Budget includes various tax measures, including: A proposal for a one-off reduction of profits tax, salaries tax, and tax under personal assessment for
Read More
On 6 February 2024, the Hong Kong Inland Revenue Department (IRD) released the updated lists of Qualifying Debt Instruments (QDIs) at the end of 31 December 2023. The lists include: Qualifying Debt Instruments issued before 1 April 2018
Read More On 19 January 2024, the Hong Kong Inland Revenue Department declared the Inland Revenue (Amendment) (Tax Deductions for Spectrum Utilization Fees) Ordinance 2024. This ruling has been published in the Official Gazette and introduces tax deductions
Read More
On 21 December 2023, the Hong Kong Inland Revenue Department declared the launch of a public consultation on the implementation of global minimum tax under Pillar Two of the international tax reform proposals drawn up by the Organisation for
Read More
