OLN’s partner Anna Chan, and associate, Victor Ng were invited by the Hong Kong Corporate Counsel Association to present on the topic of “A Recap on Hong Kong Tax System and The Latest Updates” on 16 March 2017.
It is an inevitable trend under the international tax reform that countries will be working together to promote transparency in tax administration. Hong Kong, as a responsible international citizen and a leading financial centre, has recently put in place domestic legislation in relation to AEOI.
Article 1 of the PRC’s Enterprise Income Tax Law provides that the following two types of enterprises shall pay Enterprise Income Tax (“EIT”) :-
a PRC resident enterprise; a non-PRC resident enterprise.