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20230116 Practical interpretation and application of Hong Kong’s foreign-sourced income exemption regime – An update from the IRD
The Inland Revenue (Amendment) (Taxation on Specified Foreign-sourced Income) Bill 2022 was passed in December 2022. Upon enactment of the Bill into law, the new foreign-sourced income exemption (FSIE) regime in Hong Kong will take effect from 1 January 2023. The FSIE regime applies to multinational enterprise groups receiving foreign-sourced dividends, gains from sale of equity interest, income from use of intellectual property and interest income in Hong Kong. Under the regime, profits tax exemption will continue to apply for the above mentioned foreign-sourced income if certain conditions are met.
In this webinar, the IRD speaker will:
1. Provide a quick recap of the key features of the FSIE regime;
2. Discuss and clarify various issues on the interpretation and application of the rules under the FSIE regime; and
3. Discuss the technical support provided by the IRD to taxpayers to facilitate compliance.