Hong Kong Tax alert 2010 - Ernst & Young - China

Tax Alert is produced as a client service by Ernst & Young. It is intended to serve as a guide only to alert readers to emerging issues and issues of topical interest. Readers should consult with their client service executives for advice concerning their specific circumstances.

• Tax Alert - 22 December 2010
  Hong Kong has recently signed comprehensive double tax agreement with Switzerland.  This Hong Kong Tax alert discusses the salient points of the several provisions of this agreement.
  
• Tax Alert - 20 December 2010
  Hong Kong has recently signed comprehensive double tax agreement with New Zealand.  This Hong Kong Tax alert discusses the salient points of the several provisions of this agreement.
  
• Tax Alert - 26 November 2010
  Hong Kong has recently signed a comprehensive double tax agreement with Japan.  This Hong Kong Tax alert discusses the salient points of the several provisions of this agreement.
  
• Tax Alert - 26 November 2010
  Hong Kong has recently signed a comprehensive double tax agreement with France.  This Hong Kong Tax alert discusses the salient points of the several provisions of this agreement.
  
• Tax Alert - 8 October 2010
  Taxation of Equity-linked notes - views and clarifications from the Inland Revenue Department.
  
• Tax Alert - 27 August 2010 
  Hong Kong has recently signed a comprehensive double tax agreement (CDTA) with Liechtenstein, and amended some of the provisions of the earlier Hong Kong – Netherlands CDTA.  This alert draws your attention to these matters.
  
• Tax Alert - 19 August 2010
  In the 2010 annual meeting with the HKICPA, the IRD expressed their views on deductibility of share-based payments, advance pricing arrangements and time limit for foreign tax credit claims.  This Hong Kong Tax alert draws your attention to the IRD’s views.
  
• Tax Alert - 21 July 2010 
  July 21, 2010
  The Court of First Instance decision in CIR v C G Lighting Limited held that an apportionment of profits was not available under an import processing arrangement. This Hong Kong Tax alert discusses the facts and decisions of the case.
  
• Tax Alert - 7 July 2010 
  July 7, 2010
  In June, Hong Kong signed comprehensive double tax agreements with the UK and Ireland.  This Hong Kong Tax alert discusses the salient points of the several provisions of these agreements pertaining to business operations and investments.
  
• Tax Alert - 21 June 2010 
  June 21, 2010
  Court rejects taxpayers' bid to effectively use judicial review to annul assessments on their profits which they claim as offshore. This Hong Kong Tax alert analyses and discusses the implications of the case.
  
• Tax Alert - 17 June 2010 
  June 17, 2010
  In May, Hong Kong signed comprehensive double tax agreements with Hungary, Kuwait and Austria. This Hong Kong Tax alert discusses the salient points of the several provisions of these agreements pertaining to business operations and investments.
  
• Tax Alert - 8 April 2010
  April 8, 2010
  This Hong Kong Tax alert discusses the major provisions of the new comprehensive double tax agreements that Hong Kong has signed with Brunei, the Netherlands and Indonesia in March.
  
• Tax Alert - 1 April 2010 
  April 1, 2010
  This Hong Kong Tax alert draws your attention to 2009/10 profits tax filing obligations and the tax treatments for reinstatement costs and share-based payments.
  
• Tax Alert - 24 March 2010 
  March 24, 2010
  This Hong Kong Tax alert discusses the salient points of several provisions of the tax agreement between Hong Kong and the Netherlands pertaining to investments (i.e., dividend, royalty and interest flow, and capital gains issues).
  
• Tax Alert - 26 February 2010 
  February 26, 2010
  The Financial Secretary indicated in his budget 2010-11 that the definition of “central management and control” would be clarified to increase the certainty of profits tax exemption for non-resident funds. The Inland Revenue Department then immediately revised its practice note to provide the clarification. This Hong Kong Tax alert explains the amendments made.
  
• Hong Kong 2010-11 Budget
  February 24, 2010
  The Financial Secretary, Mr John Tsang, delivered the 2010-11 budget speech at the Legislative Council today (24 February 2010). Our Budget insights and Tax facts summarize the key proposals contained in the budget and our views thereof.
  Budget insights | Tax facts
  
• Tax Alert - 5 February 2010 
  February 5, 2010
  Last month, Hong Kong passed a law enabling it to adopt a wider version of the exchange of information article in future bilateral tax agreements.
  This Hong Kong Tax alert explains the provisions of the new law and the related safeguards adopted by Hong Kong to protect the privacy and confidentiality of a taxpayer's information.
  
• Tax Alert - 3 February 2010 
  February 3, 2010
  Ernst & Young estimates a fiscal deficit of HK$4.9 billion - HK$9.9 billion for 2009/10 and proposes supportive fiscal measures to guard against downside risks faced by the economic recovery of Hong Kong. Please refer to the enclosed tax alert for details of our proposal.
  
• Tax Alert - January 2010 (Issue No. 3) 
  January 29, 2010
  "Church loses $180m battle with taxman over profits" - the headline of a news item in a local English newspaper yesterday (28 January 2010).
  
  Please refer to the enclosed tax alert for full facts, arguments and the judgment of the Court of First Instance on the case.
  
• Tax Alert - January 2010 (Issue No. 2) 
  January 27, 2010
  This Hong Kong Tax alert discusses a recent Court of Final Appeal's decision involving the application of the general anti-avoidance provision contained in section 61A of the Inland Revenue Ordinance to a complicated debt defeasance arrangement (in addition to whether the relevant expenditure was capital or revenue in nature).
  
• Tax Alert - January 2010 
  January 22, 2010
  "Church fights HK$180m tax bill in court" - headline of a local English language newspaper yesterday (21 January 2010).
  
  Please refer to the enclosed tax alert for full facts, arguments and Board of Review's decision of the pending court case.