Tag: Taxation

Offshore Income Claim

[Hong Kong] Offshore Income claim

Hong Kong adopts territorial basis of taxation.
It means only business profits, employment income and property rental income arising in or derived from Hong Kong is taxable.

Hong Kong profits tax

[Hong Kong] Hong Kong Profits Tax

Hong Kong adopts territorial basis of taxation.
It means only business profits, arising in or derived from Hong Kong is taxable. It applies to both residents and non-residents of Hong Kong.

Taiwan Taxation

[Taiwan] Taiwan Taxation

– Corporate : income sourced from onshore and offshore are subject to income tax
– Individual : onshore income are subject to income tax ; offshore income are subject to alternative minimum income tax

Income tax rate in Taiwan

Income tax rate in Taiwan

For Taiwan residents, the income will be subject to the progressive income tax rate from 5% to 42%.

completion of employer's return in Hong Kong

Completion of Employer’s Return in Hong Kong

The basis period for Salaries Tax runs from 1 April of the current year to 31 March of the succeeding year. Hence, form IR56Bs must be completed for the relevant year ended 31 March.

FAQ Singapore - Singapore Personal Tax

Singapore Personal Tax 2

Resident individuals are taxed on a progressive tax rate basis starting at 0% and ending at 22% above S$320,000. Non-resident individuals are taxed at 15% or the progressive tax rates on the employment income, whichever results in a higher tax amount.

FAQ Singapore - Singapore Personal Tax

Singapore Personal Tax 1

In general, directors’ remuneration derived from a company resident in Singapore is taxable in Singapore regardless of your physical presence in Singapore, due to the fact that the income was derived in Singapore.

Withholding Tax in Hong Kong

Withholding Tax in Hong Kong

There is no withholding tax on dividend distributions and interest payments from a Hong Kong entity.

On the other hand, specific types of payments are subject to withholding tax in Hong Kong. They are royalties paid to non-residents and fees paid to non-resident entertainers or sportsmen for their performances in Hong Kong. Next, I will provide further details about royalties paid to non-residents.

CEPA

What is Closer Economic Partnership Arrangement (CEPA)?

The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) is a free trade agreement concluded by the mainland and Hong Kong. Under CEPA, all products of Hong Kong origin, except for a few prohibited articles, can be imported into the mainland tariff-free.

CEPA Covers 4 Broad Areas

273 classes of Hong-Kong-made goods can be exported to the mainland free of tariff. For other categories of ‘made in Hong Kong’ products, the mainland also agreed to apply a zero-import tariff, upon applications by local manufacturers for other product codes maintained on China’s tariff system and meeting the CEPA rules of origin.

Hong Kong CEPA

Certificate of Hong Kong Orgin – (CEPA CO)

The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) is a free trade agreement concluded by the mainland and Hong Kong. Under CEPA, all products of Hong Kong origin, except for a few prohibited articles, can be imported into the mainland tariff‑free.