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Corporate Treasury Centres in Hong Kong Inland Revenue Department issues guidance

Corporate Treasury Centres in Hong Kong Inland Reven...

Hong Kong Tax Alert - Issue 10, September 2016

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Hong Kong Tax Alert

The Inland Revenue Department (“the IRD”) issued a practice note providing guidance on the recent amendments made to the Inland Revenue Ordinance (“the Ordinance”) with respect to Qualifying Corporate Treasury Centres (“QCTC”). The IRD has clarified a number of areas relating to the QCTC regime and the interest deduction provisions under the Ordinance. While some of the IRD’s comments are helpful, the provisions remain complex and could impact the usefulness of the QCTC  initiative. This tax alert summarises the key comments on the IRD’s practice note and how companies can benefit from the QCTC initiative.

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© 2022 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in Mainland China, KPMG, a Macau (SAR) partnership, and KPMG, a Hong Kong (SAR) partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation.

For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.

京ICP备12028186号-1
京公网安备11010102003233号

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