Decoding Hong Kong's 2024 Tax Landscape: KYT's Expertise in IBFD's Latest Publication

KYT has once again contributed to the Hong Kong chapter of IBFD’s online publication on “Investment Funds & Private Equity”. This publication of which Kenneth also authored the original piece, has been reviewed up to 8 July 2024.  We extend our gratitude to the IBFD team for their collaboration in this annual endeavour.

Broadly, the noteworthy Hong Kong tax matters include the following:
- Refinement of the foreign source income exemption (FSIE) regime as of 1 January 2024;
- Introduction of a tax certainty enhancement scheme for onshore equity disposal gains with effect from 1 January 2024;
- Enactment of intra-group relief for stamp duty on the transfer of properties as of 1 January 2024;
- Relief of special stamp duty on the transfer of residential property as of 28 February 2024;
- Revision of the Inland Revenue Department’s approach in issuing Certificates of Resident status to Hong Kong incorporated companies as of 12 June 2023.

For those keen on delving deeper into these pivotal changes, we invite you to reach out to us at info@kyimtax.com for further information. Your inquiries are always welcome, and our team is ready to provide you with comprehensive insights.