Hong Kong Tax Newsflash

The draft legislation that refines Hong Kong's FSIE regime by expanding the scope of foreign-sourced disposal gains (the Bill¹) was passed by the Legislative Council yesterday (i.e., 29 November 2023). Under the refined FSIE regime, the scope of foreign-sourced disposal gains is expanded to cover all types of assets, except disposal gains derived by traders. A new intra-group transfer relief for foreign-sourced disposal gains is introduced. The refined FSIE regime will be effective from 1 January 2024.

For the background and details of the refined FSIE regime, please refer to our Hong Kong Tax Newsflash Issue 174, Issue 177 and Issue 192 and Issue 195.

¹ Inland Revenue (Amendment) (Taxation on Foreign-sourced Disposal Gains) Bill 2023

^{Tax Newsflash is published for the clients and professionals of Deloitte Touche Tohmatsu. The contents are of a general nature only. Readers are advised to consult their tax advisors before acting on any information contained in this newsletter.}
 

If you have any questions, please contact our professionals:

Authors

Doris Chik
Tax Partner
+852 2852 6608
dchik@deloitte.com.hk

Carmen Cheung
Senior Tax Manager
+852 2740 8660
carmcheung@deloitte.com.hk

Kiwi Fung
Tax Manager
+852 2258 6162
kifung@deloitte.com.hk

Global Business Tax Services

National Leader
Andrew Zhu
Tax Partner
+86 10 8520 7508
andzhu@deloitte.com.cn

Hong Kong
Raymond Tang
Tax Partner
+852 2852 6661
raytang@deloitte.com.hk

International and M&A Tax

National Leader
Vicky Wang
Tax Partner
+86 21 6141 1035
vicwang@deloitte.com.cn

Hong Kong
Anthony Lau
Tax Partner
+852 2582 1082
antlau@deloitte.com.hk