Hong Kong – Macau CDTA (Comprehensive Avoidance of Double Taxation Arrangement) For years, Hong Kong and Macau residents have earned income across the border and have to pay tax twice. Hong Kong and Macau are both Special Administrative Region of Mainland China. Recently, Hong Kong signed a comprehensive avoidance double tax arrangement with the Mainland.…
Employment Support Scheme Package in Hong Kong – The Financial Support to Employers The Government is Offering Limited-time Financial Support for Businesses in Need Hong Kong’s Government has announced the Employment Support Scheme Package which will provide financial support for a limited-time to employers. The packaged is valued at $81 billion and aimed to…
Government Advice for Holding Company AGM During the COVID-19 Pandemic The COVID-19 pandemic has made it necessary for companies to undertake measures for health and safety concerns. The Hong Kong Government has introduced measures to implement social distancing such as the Prevention and Control of Disease (Prohibition on Group Gathering) Regulation which, among other things,…
Extension of Hong Kong Tax Payment Deadlines by Three Months The Hong Kong Government has announced that there will be an extension of three months for tax payment deadlines. This will apply to salaries tax, personal assessment and profits tax for the year of assessment 2018/19 which fall between April to June of this year.…
Hong Kong Government Announced Second Round of Anti-epidemic Fund Subsidy Schemes The Hong Kong Government has announced details on subsidy schemes under the second round of the Anti-epidemic Fund. The subsidy schemes include the Anti-epidemic Support Scheme for Property Management Sector and the Food & Environmental Hygiene Department subsidy scheme. Anti-epidemic Fund 2.0 The…
Government Handing Out Subsidy Schemes for Public Entertainment Businesses and Commercial Bathhouses The COVID19 pandemic is taking over the world as we speak. Most countries are rolling out an economic stimulus package to stabilise their economy. The epidemic is causing people to stay at home or at least practise social distancing. Social distancing is now…
Hong Kong One Off Subsidy for Light Food and Cooked Food Stalls Who Struggles Amid Pandemic The whole world is currently experiencing the worse pandemic, the COVID19. It is a respiratory illness that infects people rapidly. There is still no vaccine for this illness; hence, the only way to curb it is through prevention. Among…
Hong Kong-UAE Investment Agreement to Take Effect An investment agreement signed between Hong Kong and the United Arab Emirates (UAE) will enter into force on 6 March 2020. The HK-UAE Investment Promotion and Protection Agreement (IPPA) was signed in June 2019 and will enhance investors’ confidence, expand investment flows, and further strengthen the economic and…
Hong Kong Extends Innovation & Technology Funding Scope Hong Kong’s Innovation & Technology (I&T) Commission will be extending the funding scope for the Researcher Programme and Postdoctoral Hub. Effective from 9 March 2020, the funding scope will be extended to include technology companies which are conducting or planning to conduct research & development (R&D) activities…
Hong Kong Economy is the Most Open Economy Worldwide – An Overview Why Hong Kong Retains Its Reign as the Number One City in the World for Economic Freedom? Dynamic. Robust. Open. A place where East meets West. These are just some of the many ways to describe the Hong Kong economy. How has…