On 24 October 2024, the Shenzhen Municipal Committee’s Office of the Financial Committee promulgated the Action Plan for Promoting High-Quality Development of Venture Capital Investment in Shenzhen (“Action Plan”). The document was released as a consultation draft, inviting public input. The deadline for feedback submission was 31 October 2024.
Do you own a non-listed company in Hong Kong? You may be eligible to apply for funding under the Dedicated Fund on Branding, Upgrading and Domestic Sales (“BUD Fund”) to support your expansion efforts outside Hong Kong. This article will walk you through the eligibility criteria, funding scope, allocated funding amounts, and a step-by-step guide to navigating the application procedure under the different BUD schemes.
This summary provides an overview of the tax rates for profits tax, salaries tax, and property tax in Hong Kong for the assessment years 2024-25. It serves as a quick reference for individuals and businesses to understand their tax obligations in the region. Staying informed about these rates is important for effective tax planning and compliance in Hong Kong’s dynamic economic environment.
Our China Guides comprise a series of informative articles that provide insights on efficiently handling the compliance responsibilities and administrative formalities associated with establishing and scaling up your business in Mainland China.
Dong Business in Hong Kong
Are you looking to setting up a company in Hong Kong? Checkout our a series of comprehensive guides on how to set up and operate a business in Hong Kong.
The Greater Bay Area (GBA) of China presents vast opportunities for businesses seeking to expand their operations in the region. The GBA comprises nine cities in Guangdong Province, Hong Kong, and Macau, with a combined population of over 70 million and a GDP of approximately USD 1.6 trillion. It is a critical part of China’s economic development strategy, aimed at creating a world-class metropolis and driving economic growth in the region.
We have a series of informative articles that delve into the various business opportunities available in the GBA. These articles cover a wide range of industries, including finance, technology, logistics, and tourism, among others. We provide insights on the GBA’s market potential, investment incentives, regulatory environment, and emerging trends that businesses can capitalize on.
Between December 2023 and March 2024, the HKSAR Government conducted a consultation on the Global Anti-Base Erosion (“GloBE”) Rules and the Hong Kong Minimum Top-up Tax (“HKMTT”). Upon the conclusion of the consultation, Hong Kong’s Financial Services and the Treasury Bureau, in collaboration with the Inland Revenue Department, has recently published a Legislative Council (“LegCo”) Paper. The document recapitulates the input gathered from various stakeholders and presents the government’s feedback based on the findings.
Market Entry, Industry Updates and More...
On 16 October 2024, the HKSAR Government unveiled the highly anticipated 2024 Policy Address themed around continuous development and renewal. Accordingly, the Policy Address is titled “Reform for Enhancing Development and Building Our Future Together”.
A broad array of initiatives are presented in the Policy Address to solidify Hong Kong’s status as a leading international financial and innovation centre. New growth areas will be explored and tapped into in order to facilitate comprehensive economic and social development.
Bringing you the latest developments to help you further your China business
CW CPA is a professional advisory and CPA firm offering accounting and financial reporting, audit and assurance, corporate secretarial, HR process outsourcing, tax advisory and China consulting services, with offices in Hong Kong, Shenzhen, Guangzhou and Shanghai in China, Barcelona in Spain, London in the UK, Bogotá in Colombia, Belo Horizonte and São Paulo in Brazil. CW CPA is a member of Allinial Global, an award-winning association of legally independent accounting and consulting firms whose members collaborate to bring their clients best-in-class solutions.
