Taxation in Hong Kong: A Practical Guide 2015-2016

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Taxation in Hong Kong: A Practical Guide 2015-2016

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The new edition of this CCH title is now updated to cover the newest developments and trends in Hong Kong taxation. The practical aspect of this title has proven to be of great value to candidates preparing for their professional qualification exams as well as to taxation and accounting students who would like to pursue in a career in this exciting industry. The book provides an in-depth analysis of the concepts governing taxation of companies, businesses, individuals and partnerships in Hong Kong, from the implementation of new legislation to the latest departmental notes and current tax cases.

New material covered in the 2015/2016 edition includes the following:
- changes announced in the 2015/16 budget;
- additional contents focused on the international environment;
- enactment of a special stamp duty and buyer’s stamp duty; and
- newly signed double taxation agreements.
Discussion on China tax for cross-border business is included and updated in this edition. The book also examines recent tax cases on such areas of practice as source of profits, capital/revenue receipt, taxability of unrealized gains, taxability of a lump sum received, and appeals procedure. Topic-related revision questions at the end of each chapter with suggested solutions are particularly useful for professional taxation examination candidates and undergraduate and postgraduate students.

The Taxation in Hong Kong: A Practical Guide allows students to explore and apply relevant tax knowledge, professional skills in practise. It discusses in detail the spectrum of taxation issues in Hong Kong and while it is especially written for professional taxation examination candidates, undergraduate and post-graduate students, as well as tax professionals, the book is also written in a way to help readers to effectively absorb knowledge and provides plenty of practise to strengthen professional judgment in the area of Hong Kong Taxation.
- Legislation updated up to July 2015
- Changes announced in the 2015/16 budget
- New material included the enactment of a special stamp duty and buyer’s stamp duty
- The user-friendly tables on tax rates, personal allowances and due dates for tax returns are handy reference tools.
- Decisions of important Board of Review, Court of First Instance, Court of Appeal and Court of Final Appeal tax cases are referred to in analysing a particular tax issue.
- Contains user-friendly indexes, section finding list and case table which ensure fast access to information
1. Introduction to Hong Kong Revenue Law
2. Salaries Tax
3. Personal Allowances
4. Personal Assessment
5. Property Tax
6. Profits Tax
7. Depreciation and Other Capital Allowances
8. Double Tax Relief
9. Returns and Information, Assessment, Provisional Tax
10. Payment and Recovery of Tax
11. Objections, Appeals
12. Offences and Penalties
13. Advance Rulings, Anti-avoidance
14. Stamp Duty
Mr Percy Wong, CPA, FCCA, ATIHK, CTA, BSocSci, & MBA, is a teaching fellow at The Hong Kong Polytechnic University, specialising in taxation. He is also the Work-integrated Education Coordinator for the School of Accounting and Finance of the university. He has over 15 years of teaching experience at tertiary level. Prior to joining the University, he was a senior tax manager at an international CPA firm. He is a Council Member of The Taxation Institute of Hong Kong. He is also a member of the Taxation Faculty of the Hong Kong Institute of Certified Public Accountants and a member of the Taxation Committee of Hong Kong General Chamber of Commerce. He has been a member of the Inland Revenue Board of Review for the years 2007 to 2013. Moreover, he is one of the joint editors of the Asia Pacific Journal of Taxation, jointly organized by The Taxation Institute of Hong Kong and The Hong Kong Polytechnic University. In addition, he serves as examiner and moderator for examination of various local and international professional bodies.

Dr Jody Wong, PhD, MSc, BA, FCCA, FCPA, CTA, is a teaching fellow at the School of Accounting and Finance of The Hong Kong Polytechnic University. He is also the programme manager of the Master of Professional Accounting programme. He is a certified public accountant and a certified tax adviser in Hong Kong. Prior to joining the University, he has acquired substantial practical experience in the fields of accounting, auditing and taxation through working in the commercial sector, an international CPA firm and the tax department. He also serves as examiner and academic consultant for professional bodies and tertiary institutions, and publishes in the Asia-Pacific Journal of Taxation.