Hong Kong adopts a territorial source principle of taxation and only profits which have a source in Hong Kong are taxable. Offshore profits are not subject to Hong Kong Profits Tax. Start from this year, under the new FSIE regime, specified foreign-sourced income may be deemed as taxable income if certain conditions could not be met.
Ms. Evy Wong, Principal Partner of Tax and Advisory Department of CWK Global, was invited to host a forum organized by The Society of Chinese Accountants & Auditors, where she shared insights on the impact of the new FSIE regime and prevailing practice on industries such as e-commerce business, provided several offshore income case studies to remind industry professionals and enterprises of the issues to be aware of under the new regime.
