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Hong Kong Archive

  • December 2014

    Hong Kong: Hong Kong signs Model 2 IGA under FATCA

    December 16, 2014

  • China: You can download the latest edition of our guide now

    December 08, 2014

    The 4th edition of China - Looking Ahead is available as a downloadable pdf. It features articles on how China regards the BEPS project, the progress of the VAT reforms and what China expects from multinationals on transfer pricing.

  • November 2014

    Negotiations complete; China-Taiwan DTAA could be signed January 2015

    November 21, 2014

    Though Taiwan would be the agreement’s primary beneficiary, the jurisdiction is treading lightly before formally signing an agreement with neighbouring China for the avoidance of double taxation. The treaty will cut the tax Taiwanese companies are subjected to on their Chinese operations.

  • UPDATE: Corporate tax exemption for profits made over Shanghai-Hong Kong Stock Connect

    November 14, 2014

    One business day before the opening of the Shanghai-Hong Kong Stock Connect, China’s Ministry of Finance formally announced that profits made on transactions over the connect will be temporarily exempt from capital gains tax. The introduction of the connect is the first time that individuals and small to medium investors will be able to access the Chinese stock market.

  • Capital gains tax issue still unresolved ahead of momentous Shanghai-Hong Kong Stock Connect launch

    November 12, 2014

    While Beijing’s lawmakers are preoccupied with the APEC (Asia-Pacific Economic Cooperation) summit, traders and brokers are holding their breath to hear whether gains under the new Shanghai-Hong Kong exchange, called Stock Connect, will be exempt from China’s 10% capital withholding tax on foreign investors.

  • October 2014

    Hong Kong: Hong Kong commits to the Common Reporting Standard

    October 30, 2014

  • South Africa and Hong Kong cut withholding tax on dividends and royalties to 5% in tax treaty

    October 28, 2014

    Hong Kong and South Africa signed their comprehensive double tax agreement (DTA) on October 17.

  • Hong Kong grapples with FATCA and CRS compliance

    October 15, 2014

    Hong Kong’s financial institutions are battling to become FATCA compliant by 2016. On September 15, the city also announced its cooperation with the OECD Common Reporting Standard (CRS) initiative, which allows free exchange of tax information among 70 countries. The dual burden is potentially problematic for both regulators and financial institutions.

  • Hong Kong-Chile free trade deal eliminates tariffs

    October 10, 2014

    The tariff-free exchange of goods and services between Hong Kong and Chile, though not immediate, is a feature of the bilateral free trade agreement (FTA) that came into effect in the two jurisdictions on October 9.

  • Hong Kong: Corporate residence determines source of director’s fees

    October 01, 2014

  • September 2014

    World's leading tax controversy advisers unveiled

    September 05, 2014

    The fourth edition of International Tax Review's Tax Controversy Leaders guide is out now. Find out who the top-rated disputes specialists are in your jurisdiction.

  • August 2014

    World Tax Authority: Taking harmonisation to the next level

    August 29, 2014

    Recent attempts at tax harmonisation have struggled to take off. In Europe enhanced cooperation measures are being invoked because of the inability to find consensus. But what fate awaits the notion of a World Tax Authority (WTA)? Would it take tax harmonisation to the next level or, like the Europe-wide language of Esperanto, is this attempt at harmonisation doomed to fail? Matthew Gilleard analyses what has motivated discussion of such a concept and looks at the barriers to implementation.

  • The IMF and international tax

    August 29, 2014

    David Spencer, of the Law Offices of David Spencer in New York, analyses the recent work of the International Monetary Fund (IMF) and assesses its growing influence in the area of international taxation.

  • Hong Kong: Hong Kong signs double tax agreement with South Korea

    August 29, 2014

  • UN survey calls for more tax cooperation in Asia

    August 29, 2014

    A UN body has highlighted the prospects of tax harmonisation and the elimination of tax competition in Asia-Pacific as methods for helping countries in the region to increase the amount of taxes they raise.

  • How Hong Kong is adapting to international fiscal transparency standards

    August 04, 2014

    Hong Kong is an important financial, trading and service hub for China and Asia which is a result of very good infrastructure, highly effective financial markets and a highly competitive tax regime. Hong Kong has always aimed at minimising administrative burdens which results in a very simple and easy-to-handle tax regime that many countries would wish for. Thus, more complicated tax regulations including tax treaties or anti-avoidance regulations including transfer pricing have been kept to a bare minimum, if included at all.

  • July 2014

    OECD answers your questions about the global automatic exchange standard

    July 24, 2014

    EXCLUSIVE: On Monday July 21 the OECD released the full version of the Standard for Automatic Exchange of Financial Account Information in Tax Matters, which requires financial institutions to report detailed financial account information to their governments, which then exchange such information automatically with other jurisdictions on an annual basis. The Standard developed by OECD in response to a mandate by the G20 was first presented to and endorsed by the G20 Finance Ministers in February 2014.

  • Have your say on ITR's development

    July 14, 2014

    The new website went live in late May. Take the opportunity to influence how it develops by completing our survey.

  • BEPS and the digital economy: Why is it so taxing to tax?

    July 01, 2014

    Devising appropriate rules for the taxation of the digital economy is one of the most awkward challenges governments have set for themselves in the BEPS project, especially when defining the digital economy is an issue in itself. Aaran Fronda looks at the possible outcomes of the discussion.

  • In search of harmony: Finding a consensus on hybrid mismatches

    July 01, 2014

    Mismatches create opportunities. This is true in any scenario, whether it is the opportunity for a fleet-footed and nimble winger to gain an advantage by exposing the bulky, flat-footed front-row rugby forward who has temporarily become his opposite man, or whether it is in the (equally ruck-filled) field of tax planning. Matthew Gilleard looks at where the OECD is drawing the line when it comes to activity that takes advantage of tax law mismatches in an intended or acceptable manner, and that which is not.

  • Hong Kong: Hong Kong and the source of profits

    July 01, 2014

  • June 2014

    New Baker & McKenzie partners announced

    June 26, 2014

  • Indirect Tax Leaders 2014 now available

    June 23, 2014

    The third edition of International Tax Review's Indirect Tax Leaders' Guide, is all about identifying the leading professionals in this field, which is only increasing in importance. Between its covers, you will find the names, and biographies in many cases, of the world's leading indirect tax practitioners, which were collected after an independent research process. It should give taxpayers confidence that if they decide to hire any of these individuals, they will be getting the best in the field.

  • May 2014

    Avoiding the snares of international tax structures

    May 27, 2014

    International business expansions can substantially increase the bottom line, but this outcome is largely dependent on establishing an efficient structure that helps to ensure financial success. Lee Sheehan, head of tax at Radius, looks at the importance of a clear strategy when setting up tax structures for specific business locations, and points out some of the landmines to avoid along the way.

  • Hong Kong: No refund of tax paid due to fraudulent conduct of directors

    May 27, 2014

  • India: Ruling on Service PE trigger on deputation and income effectively connected to PE

    May 27, 2014

  • New indirect tax could close Hong Kong's competitiveness gap with Singapore

    May 23, 2014

    Though companies would have to bear the costs of changing their technology, accounting and pricing systems, a VAT or GST could make Hong Kong more competitive and bring long-term benefits, say advisers.

  • World Tax 2016 and World Transfer Pricing 2016: Research opens in May 2015

    May 21, 2014

    The research will start for the 2016 editions of World Tax and World Transfer Pricing in May 2015. Please watch this website closely for further information.

  • DLA Piper raises three to tax partnership

    May 01, 2014

  • April 2014

    According to plan? The world of tax planning is changing, but not as fast as everyone would like

    April 30, 2014

    The world of tax planning is like one big global tug o’ war being played between multinational companies and their advisers, tax authorities, supranational bodies and non-governmental organisations. Everyone has an interest in changing the international tax system. But with everyone pulling in different directions, the pace of change is frustrating for most.

  • Hong Kong: TIEA signed with US

    April 30, 2014

  • Asia-Pacific tax managers rate consistency as highest priority

    April 17, 2014

    Consistency has displaced complexity and predictability as the most important tax factor driving investment decisions in Asia-Pacific. Reputational risk and tax planning, as well as BEPS, also featured as important considerations for respondents to a survey of tax executives.

  • Cross-border tax avoidance and evasion – A developing Asia perspective

    April 11, 2014

    Satoru Araki, of the Asian Development Bank, argues that more regional cooperation will help developing countries in Asia to contribute better to the discussion about changing international tax rules and to improve their tax administration capacity.

  • India: Shome reform committee report due next month

    April 10, 2014

    The Parthasarathi Shome-led Tax Administration Reform Commission (TARC) will next month release its first report since being set up to review existing tax administration mechanisms in India and make recommendations for improvement.

  • Macquarie joins calls for 25% Australian tax rate

    April 10, 2014

    After similar pleas throughout the past year, most recently from the Australian Tax Institute last month, Macquarie Group has now joined the calls for Australia to reduce its corporate tax rate. Macquarie says a 25% rate is necessary if Australia wants to become a regional financial services hub.

  • What Hong Kong tax filers should consider after Nice Cheer ruling on unrealised gains

    April 10, 2014

    Tracy Ho and Patrick Kwong of EY outline the Hong Kong tax authorities' reaction to the ruling of the territory’s Court of Final Appeal (CFA) in the Nice Cheer case in November 2013.

  • March 2014

    Operational TP: When tax function meets finance function

    March 28, 2014

    Frank Schoeneborn, head of global operational transfer pricing in the finance and accounting division at Merck Group with headquarters in Germany, looks at the practical problems in the implementation of operational transfer prices, illustrating the new tax risks stemming from these problems and showing how holistic management can be the solution.

  • Hong Kong: Budget handed down

    March 28, 2014

  • M&A Focus 2014 now available

    March 20, 2014

    M&A is on the up, particularly in emerging markets, such as China, Colombia and Mexico. Taxpayers expect to complete more divestitures but there are still issues for them to negotiate. This year's annual M&A supplement provides useful tips for negotiating the tax implications of M&A globally.

  • Asian Development Bank steps in with help for tax administrators

    March 19, 2014

    Like other multilateral organisations, such as the IMF and the World Bank, the Asian Development Bank (ADB) has deepened its role in helping to build capacity in tax administrations and to train officials. Satoru Araki, a public management specialist at the ADB, tells International Tax Review how his organisation does it.

  • Asia Transfer Pricing Focus 2014 now available

    March 14, 2014

    Leading transfer pricing advisers from KPMG in Australia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and Vietnam bring you insights and advice from across the region.

  • February 2014

    Big fish: The world's leading transactional firms revealed

    February 26, 2014

    International Tax Review analyses the global M&A trends over the last year and highlights the leading firms in the field.

  • OECD standard makes progress towards automatic exchange of information

    February 13, 2014

    Global automatic exchange of financial account information got a step closer today after the OECD published its Common Reporting Standard.

  • OECD seeks increased tax transparency from multinationals

    February 06, 2014

    The OECD has released a discussion draft outlining its proposals on information that multinationals may be required to disclose to tax authorities about their global operations.

  • January 2014

    The dark side of transparency

    January 28, 2014

    Tax transparency is lauded as an unequivocal good. But is it really this clear-cut? Matthew Gilleard explores the negatives as he ventures into the dark side of transparency.

  • Special features - February 2014

    January 28, 2014

    Read this month's special features on Canada and Tax compliance.

  • Getting value from advisers: An in-house perspective

    January 28, 2014

    Patrick Connolly is an experienced senior in-house tax adviser who has spent the past 10 years in in-house regional tax roles covering Europe, the Middle East, Africa and the Asia/Pacific regions as well as head office tax responsibilities. He shares his views on getting the most value from the client/adviser relationship. Paul Dunne, national managing tax partner for KPMG New Zealand and the tax lead on a number of multinational clients, provides his response and comments.

  • Tax, development and the new Millennium Development Goals

    January 28, 2014

    Seth Terkper, Ghana’s minister of finance, and Hafiz Choudhury, senior adviser, International Tax and Investment Centre, discuss the challenges for developing countries in creating tax systems that raise enough revenue to fund development and also encourage investment.

  • Hong Kong: Tax concessions to captive insurance companies

    January 28, 2014

International Correspondents