• Tax Corner

Double Taxation Relief

Double taxation is generally defined as the imposition of comparable taxes in two or more places on the same taxpayer in respect of the same subject matter and for identical periods. Hong Kong adopts a Territorial Source Principle of Taxation, which means only profits which arose in, or are derived from, Hong Kong are taxable in Hong Kong. This means that profits generated from overseas are not taxable in Hong Kong, but are most probably still taxable in the country where the profits originated from.

For individuals who work in a different country but resides in Hong Kong, depending upon different countries' laws, may be required to pay income tax from both countries. The function of Double Tax Avoidance ("DTA") resolves the issue that the individual will only be taxed based on its residency.

For an entity / corporation, profits derived from activities involving the two countries will only be taxed by one country, or, in the case of apportionment, profits derived from one country will be taxed by that country under the DTA.

NOTICE
Holiday Notice: The first day of January 2019
Please note that Atrix will be closed on 1 January (Tuesday), and our service to be resumed on 2 January (Wednesday).

Waiving business registration fees for 2019/20
In Hong Kong 2019-20 Budget, the Financial Secretary proposed a waiver of 2019/20 business registration fees of HKD 2,000.   Read more

The Hong Kong 2019-20 Budget Summary
The Financial Secretary of the HKSAR Government will provide new resources ready for use of about HKD 150 billion in the 2019-20 Hong Kong Budget, with additional resources earmarked for various purposes.   Read more