Manage Your Tax Company Limited

20/01/2021

[Tips for obtaining the Tax Resident Certificate in Hong Kong]
Many tax practitioners struggle in obtaining the tax resident certificate from the Hong Kong Inland Revenue Department. It is required under the Mainland China rules for enjoying tax benefits under the HK-Mainland Double Tax Arrangement, even for the intermediate holding companies incorporated in offshore jurisdictions such as the BVI under certain circumstances.
We have a 100% success rate. Didn't receive any questions from the HK IRD in one of the applications for a BVI intermediate holdco. How did we do it?
The key to success is a mixture of a thorough understanding of what constitutes management and control, a forward-thinking mindset, and a deep understanding of the Chinese tax rules.
Read my previous articles and contact me if you need help.

31/12/2020

18/03/2020

First time using the IRD Data Preparation Tool to perform CbC Return submission. It is good for groups with few entities. The difficult part is data encryption...need to install Java SE 11 in order to use the IRD encryption tool, which is not easy for an IT illiterate trying to play with Windows 10... Anyway, glad that the file is accepted and CbC return submitted.

01/08/2019

This is the last Tax Tips that we are publishing.
We would like to thank you for your support in the past.
All Tax Tips are still very much relevant to the daily tax work of taxpayers large and small. If you have enjoyed reading them, please share with people you think may be interested.

Keep Calm and Manage Your Tax.

The Hong Kong IRD has published the DIPN No. 58, 59 and 60 on the transfer pricing documentation requirements, find out if you are caught.

30/07/2019

Hot off the press! Our article on CbCR published in the HKICPA magazine A-Plus.

The key elements of Hong Kong’s complex country-by- country reporting rules

20/07/2019

[Hong Kong Transfer Pricing]
The much overdue Departmental Interpretation and Practice Notes (DIPNs) on the transfer pricing documentation were finally released yesterday. The three DIPNs, over 230 pages in total, are:
DIPN 58 – Transfer Pricing Documentation and Country-by-Country Reports
DIPN 59 – Transfer Pricing Between Associated Persons
DIPN 60 – Attribution of Profits to Permanent Establishments in Hong Kong
Happy Reading!

With effect from 1 April 2002, Departmental Interpretation and Practice Notes (DIPNs) will only be published on the IRD website. Permission is given for the downloading of these materials from the website provided that the source of the information is acknowledged and that re-dissemination or reprod...

17/07/2019

Don't miss this rare opportunity to learn directly from the BVI Government representatives and tax experts about the latest on the Economic Substance Law over light drinks on 5 August 2019. We played a key role in lining up the event for the Taxation Institute of Hong Kong. See you there!

July 17, 2019: BVI House Asia posted an article on LinkedIn

10/07/2019

Presentation to a full house on the topic "Important Points to Notes on Country-by-Country Reporting" at the HKICPA yesterday evening (9 July 2019), chaired by Dr Christina Ng.