Dear Valuable Clients,
Taxation in Hong Kong used to be regarded as simple, easy to administer and on territorial concept. Following the rapid growth of cross-border transactions and aggressive transparency and co-operation requirements laid down by the Organization for Economic Co-operation and Development (OECD), Hong Kong has been updating its tax legislation to meet the international standards, including transfer pricing (TP) regulatory regime in 2018, as well as the foreign-sourced income exemption (FSIE) regime in 2023.
To enhance Hong Kong’s competitiveness, the Hong Kong Government also introduced more tax incentives in recent years such as tax concessions for limited partnership funds, family-owned investment holding vehicles, etc.
These changes will have a significant impact on most taxpayers in Hong Kong. Given the fast-changing tax environment in Hong Kong, our services are not limited to the annual tax filing services only.
To cope with the ongoing complexification of the tax legislation, we have divided the Tax Team into 4 sub-teams. The four teams are performing the same routine duties except each team is structured to be specialized and focused on different areas of taxation services.
New Tax team development
The profiles of the team heads attached to this notification and their contacts are appended below for your easy reference: -
Team 1 Ms. Violet Tsang (firstname.lastname@example.org)
Team 2 Ms. Elena Ng (email@example.com)
Team 3 Mr. Keith Chung (firstname.lastname@example.org)
Team 4 Ms. Katherine Liu (email@example.com)
Of course, you are welcome to approach the partners who are handling your cases. Needless to say, you can at all time come to me if you need any assistance from us.
We value our relationship and look forward to providing our services to you in the future.
Founding Partner of Cheng & Cheng Group