News Archives (started from April 2013)

Stamping Circulars No. 02/2014 and No. 03/2014  

IRD has updated the Stamping Circulars No. 02/2014 and No. 03/2014 for the new stamping arrangements in relation to the enhanced Special Stamp Duty and Buyer's Stamp Duty. You can also browse the Chinese version in our website.

DIPN 47 (Revised)

The Inland Revenue (Amendment) (No. 2) Ordinance was enacted in July 2013 to provide a legal framework for standalone tax information exchange agreements and to enhance the existing exchange of information arrangement. The Departmental Interpretation and Practice Notes No. 47 (“Exchange of Information”) is revised to set out the current practice on exchange of information upon requests received from treaty partners.

DIPN 49

The English Version of Departmental Interpretation Practice Notes No. 49 ("DIPN 49") has been updated by making some minor textual amendments (including Example 11) to achieve better clarity. The Chinese Version for DIPN 49 has also been issued. DIPN 49 covers the following topics:

PART A : PROFITS TAX DEDUCTION OF CAPITAL EXPENDITURE ON RELEVANT INTELLECTUAL PROPERTY RIGHTS

PART B : TAXATION OF ROYALTIES DERIVED FROM LICENSING OF INTELLECTUAL PROPERTY RIGHTS

The Business Registration Ordinance (Amendment of Schedule 2) Order 2013 has come into operation on 19 July 2013. Pursuant to the Order, the levy for business registration certificate is reduced from $450 per annum to $250 per annum. The new levy is applicable to (1) business registration certificates to be issued on simultaneous business registration applications if the related incorporation applications are made on or after July 19 and (2) for other cases, business/branch registration certificates beginning on or after July 19.

The up-to-date Business Registration Fee Levy Table and related Frequently Asked Questions have been uploaded to IRD’s website.

For details of the Order, please refer to the Press Release of Labour Department.

In relation to the proposed reduction of Business Registration Certificate levy, the Labour Department has announced information concerning the Business Registration Ordinance (Amendment of Schedule 2) Order 2013 (the Order).

Application for certification of resident status on or after 1 April 2013

With effect from 1 April 2013, applications for certificates of resident status under comprehensive arrangement/agreements for the avoidance of double taxation (“DTA”) have to be made on the following new (with*) or revised (with#) forms:

These forms can be downloaded from the Inland Revenue Department Homepage at ../tax/dta_cor.htm#form.