Hong Kong Expands Trade Reach with ASEAN FTA Amendment Hong Kong has made significant strides in bolstering its trade relations with the Association of Southeast Asian Nations (ASEAN). The region and the regional bloc have signed a protocol to expand the coverage of their free trade agreement (FTA). The move will result in a substantial…
Expanding Reach: Hong Kong Signs Investment Promotion Pact with Saudi Arabia Hong Kong and Saudi Arabia recently reached another milestone in history by signing an investment promotion pact. The Memorandum of Understanding (MoU) was signed between the two governments to foster cooperative investment promotion exchange and support. With its unique qualities, Hong Kong is a…
Stamp Duty Bill Approval Welcomed The Stamp Duty (Amendment) (Stock Transfers) Bill has been passed by the Legislative Council today. The government welcomed the approval of the stamp duty bill, as it offers investors a better opportunity to continue investing in Hong Kong. The amendment is part of the measures the Task Force recommends for…
Unveiling Hong Kong’s Unique Business Identifier: A Leap Towards Efficiency Hong Kong is embarking on a transformative journey by introducing the new Unique Business Identifier (UBI) system. This innovative system, slated for launch on 27 December 2023, promises to redefine how entities are identified, fostering efficiency and streamlining operations. Understanding UBI: A Global Perspective…
More Allocation for Green Measures in Hong Kong Will Enable the SAR to Achieve Sustainable Development In a recent address at the Asia-Pacific Business Forum (APBF) 2023, Financial Secretary Paul Chang highlighted Hong Kong’s remarkable progress in decarbonisation and its pivotal role in the broader green transition across the Asia-Pacific region. The forum, attended by…
Updates Introduced to the Foreign-Sourced Income Exemption (FSIE) Regime in Hong Kong Hong Kong is amending the foreign-sourced income exemption (FSIE) regime to address cross-border tax avoidance. This will position Hong Kong’s FSIE regime in line with international standards. The standards require corporate taxpayers to satisfy economic substance criteria in Hong Kong to enjoy tax…
Empowering SMEs at the SME ReachOut Tech+ SME Sourcing Fair 2023 The SME ReachOut: Tech+ SME Sourcing Fair 2023 opened with Mr Algernon Yau, Secretary for Commerce & Economic Development, showing his support for small and medium-sized enterprises (SMEs). The event marks a significant step in enhancing their technological capabilities and competitiveness. It’s the flagship…
New Application For Professional Services Advancement Support Scheme From September 2023 Beginning September 1, non-profit distributing organisations in the professional services sector can apply for funding under the Professional Services Advancement Support Scheme (PASS). The new round of funding offers will last until November 30, 2023. Registered professional bodies, trade and industrial organisations and research…
