Hong Kong and Serbia Came Together to Sign Double Taxation Avoidance Pact The Secretary for Financial Services and the Treasury of Hong Kong has signed a comprehensive avoidance of double taxation agreement (CDTA) with Serbia on behalf of the Hong Kong Special Administrative Region Government. The avoidance of double taxation agreement signifies the Government’s efforts…
New Amendments Will Affect the Allotment and Redemption of Shares Hong Kong’s Stamp Duty Ordinance comes into effect on 1 August 2020. It is an Amendment of Schedule 8 Regulation 2020. With the changes, stamp duty will be exempted on the purchase and sale of stocks in Hong Kong. This applies to stock that involves…
Hong Kong’s Tight Screening on Travellers Requires Employers to Sign a Pledge When Applying for Their FDH’s Visas On July 21, 2020, given the current situation of the COVID-19 pandemic, the Hong Kong Government has gazetted certain specifications under the Prevention and Control of Disease to set conditions based on public health grounds on travellers…
The Legislative Council in Hong Kong Releases New Bill to Reduce Profits Tax The government of Hong Kong passed the Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Bill 2019 previously on the 15th of July 2020. The Legislative Council approved bill would introduce interesting tax rates for eligible profits derived from the various…
Hong Kong’s Limited Partnership Fund Bill is Set to Attract Private Funds On the 9th of July 2020, Hong Kong’s Secretary for Financial Services and the Treasury, Mr Christopher Hui and Hong Kong’s Legislative Council passed the passage of the Limited Partnership Fund Bill. The bill was gazetted early this year on the 20th of…
Hong Kong: 48,000 Local Companies Newly Registered in the Mid-2020 By the end of June 2020, Hong Kong’s total number of local companies registered was 1.38 million. Additionally, 48,760 local companies were newly registered in the first half of 2020 according to a new report by the Companies Registry. 876 foreign entities established a place…
Tax Concessions Bill Passed for Insurance-related Businesses in Hong Kong The passage of the Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Bill 2019 by the Legislative Council on July 2020 was welcomed by the Secretary for Financial Services & the Treasury. Details of the New Bill The ordinance will serve as an…
COVID-19 Report Card to Assess Pandemic Readiness Experts have created a report card to measure the readiness of a country in handling outbreaks. The COVID-19 Report Card will have several indicators to evaluate the countries’ preparedness in combating a pandemic. Inaccuracy of GHSI Pandemic preparedness has not equated to effective pandemic management. Assessments such…
Understanding the Latest Buzzword: Travel Bubble Travel bubble, travel corridor, corona corridor are the latest positive buzzwords during this troubling time of the pandemic. But what are they, and why should we be excited about it? What is a Travel Bubble? More and more countries are adopting the travel bubble. Although we’re in the…
New Support Measures Launched Due to COVID-19 The Hong Kong Export Credit Insurance Corporation (HKECIC) is launching new support measures regarding the liquidity of SMEs in Hong Kong. The new support measures are for the exporters in Hong Kong. This is in light of the COVID-19 pandemic. The support measures will be effective until 1…