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In this article, we will explore the key aspects of auditing in Hong Kong, starting with mandatory requirements and ending with practical recommendations for preparing financial statements for a successful audit.
A Certificate of Tax Residency for a company in Hong Kong is an official document issued by local tax authorities (Inland Revenue Department) that confirms the company’s status as a tax resident of Hong Kong. This certificate plays an important role in the application of international agreements aimed at preventing double taxation, which Hong Kong has concluded with other countries. It also serves to confirm the company’s tax status in international tax matters. Let’s take a closer look at the criteria by which companies can obtain tax resident status in Hong Kong, as well as the process for obtaining this certificate.
Territorial Source Taxation The territorial source tax principle in Hong Kong means that tax is levied solely on profits derived from sources within this special administrative region. This is a key difference between Hong Kong’s tax system and those of many other countries, where taxes are levied on a company’s worldwide income, regardless of its […]
The key to Hong Kong’s appeal lies in its distinctive tax framework, which operates on a two-tier tax system combined with a territorial source basis. This system allows companies registered in Hong Kong, whether conducting business locally or internationally, to optimize their tax obliga-tions, significantly reducing—or even entirely eliminating—the corporate profit tax. More interesting details you will find out by reading our article.
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