Mazars’ comments on Hong Kong tax issues
The Financial Secretary, Mr. John Tsang presented his fifth budget, which is also the last budget of the current-term Government to the Legislative Council today.
Prior to the Inland Revenue (Amendment) (No. 3) Ordinance 2011, capital expenditure incurred by taxpayers to purchase intellectual property rights (“IPR”) would only be tax deductible if the IPR concerned were patent rights and rights to any know-how, the deduction of which is governed by Section 16E of the Inland Revenue Ordinance (“IRO”).
Since the commencement of the Inland Revenue (Amendment) Ordinance 2010 which enables Hong Kong to adopt The Organisation for Economic Co-operation and Development (“OECD”) 2004 version of Exchange of Information (EoI) Article, Hong Kong has been working very hard to expand its treaty network
In delivering his fourth budget speech today, the Financial Secretary Mr. John Tsang remarked that our economy has fully recovered after we have been fighting back against the financial tsunami for the past three years.
You will find here all the Hong Kong Tax newsletters released in 2010
You will find here all the Hong Kong Tax newsletters released in 2008 and 2009