Advance Pricing Arrangement
The Inland Revenue (Amendment) (No. 6) Ordinance 2018 introduces a statutory advance pricing arrangement regime. For each application, the applicant is required to pay fees which include a service charge calculated on the basis of each hour spent by IRD officers and payment or reimbursement of other fees or expenses related to the application. The applicant may be demanded to pay a deposit before the application is entertained. The deposit paid will be applied to settle the fees payable upon the determination of the application. For details, please refer to new Schedule 17H under the Amendment Ordinance.