News Archives (started from April 2020)

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

The Inland Revenue Ordinance (Amendment of Section 50A) Notice 2020 and the Inland Revenue Ordinance (Amendment of Schedule 17D) Notice 2020 take effect from 1 January 2021. In view of the amendment of the definition of a controlling person of a partnership made under the Inland Revenue Ordinance (Amendment of Section 50A) Notice 2020, a New “FAQ 35” has been uploaded onto the Department’s website.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

Departmental Interpretation and Practice Notes No. 62 has been issued to set out the Department’s interpretation and practice on the provisions relating to the profits tax concessions given to qualifying ship lessors and qualifying ship leasing managers after the enactment of the Inland Revenue (Amendment) (Ship Leasing Tax Concessions) Ordinance 2020.

On 25 November 2020, the Government announced that the Stamp Duty (Amendment) Bill 2020 would be introduced into the Legislative Council to abolish the DSD on non-residential property transactions, with effect from 26 November 2020 (“the Effective Date”).  In respect of certain instruments dealing with non-residential property executed on and after the Effective Date, the Inland Revenue Department will revert the applicable ad valorem stamp duty rates from the rates under Part 2 of Scale 1 to the rates under Scale 2.

For details, please see Ad valorem stamp duty and the relevant FAQs and Illustrative Examples.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

The Departmental Interpretation and Practice Notes No. 1 (Revised) has been updated to explain the tax principles in relation to: (a) computing assessable profits; (b) recognition of revenue from contracts with customers where HKFRS 15 applies; and (c) measurement of inventories or stock.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

The Departmental Interpretation and Practice Notes No. 53 has been updated to reflect the legislative changes made by the Inland Revenue (Amendment) Ordinance 2019 in relation to the tax treatment of regulatory capital security.

The Departmental Interpretation and Practice Notes (DIPN) No. 49 has been updated to reflect the legislative changes made by the Inland Revenue (Amendment) (No. 5) Ordinance 2018 to expand the scope of profits tax deduction for capital expenditure incurred for the purchase of intellectual property rights.  Part B of the original version in relation to the taxation of royalties from intellectual property rights has been removed and the Department’s views and practices concerning the taxation of royalties and other income derived from intellectual property is now contained in DIPN 22 (Revised).

The Departmental Interpretation and Practice Notes No. 22 has been revised to reflect the recent legislative amendments relating to the taxation of royalties and other income derived from intellectual property.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

The Departmental Interpretation and Practice Notes No. 48 has been updated mainly to (a) reflect the legislative changes made by the Inland Revenue (Amendment) (No. 6) Ordinance 2018 in relation to the statutory advance pricing arrangement (APA) regime and (b) explain the streamlined APA process.

The Departmental Interpretation and Practice Notes No. 47 has been updated to include the Convention on Mutual Administrative Assistance in Tax Matters as one of the instruments for exchange of information with other jurisdictions and reflect the latest international standard of exchange of information on request.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

Tax Guide for Charitable Institutions and Trusts of a Public Character (Chinese Version) has been uploaded to the Department’s website.

The Departmental Interpretation and Practice Notes No. 61 has been issued to set out the Department’s interpretation and practice on the provisions in the Inland Revenue (Profits Tax Exemption for Funds) (Amendment) Ordinance 2019.

The Departmental Interpretation and Practice Notes No. 42 has been updated to (a) reflect the legislative changes made by the Inland Revenue (Amendment) (No. 2) Ordinance 2019 in relation to the taxation of financial instruments and (b) explain the taxation of foreign exchange differences.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

The Exemption from Salaries Tax and Profits Tax (Anti-epidemic Fund) Order comes into operation on 29 May 2020.  Information about the tax exemptions in respect of relief measures under the Anti-epidemic Fund has been uploaded to the Department's website.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.

Tax Guide for Charitable Institutions and Trusts of a Public Character has been further updated to set out the Department’s interpretation and practice in relation to the taxation of charitable institutions or trusts of a public character and other related matters.

The Departmental Interpretation and Practice Notes No. 31 has been updated to reflect mainly (a) the legislative changes made by the Inland Revenue (Amendment) (No. 6) Ordinance 2018 in relation to advance rulings and (b) the requirement to exchange rulings.

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.