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Hong Kong (SAR), China - Overview and introduction

Hong Kong (SAR), China - Overview and introduction

Taxation of international executives

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All information contained in this document is summarized by KPMG Tax Services Limited, a Hong Kong (SAR) limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity, based on the Inland Revenue Ordinance, Inland Revenue (Amendment) (No. 6) Ordinance 2018, Mandatory Provident Fund Schemes Ordinance, Immigration Ordinance, OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations 2017, the website of the Inland Revenue Department, the website of the Mandatory Provident Fund Schemes Authority and the website of the Immigration Department.

Hong Kong (SAR) became The Hong Kong Special Administrative Region (SAR) of the People’s Republic of China (PRC) on 1 July 1997 and has operated since that date under the terms of the Basic Law. The Basic Law provides that the laws previously in force in Hong Kong (SAR), that is, common law, rules of equity, ordinances, subordinate legislation and customary law shall be maintained, subject to amendment by the Hong Kong (SAR).

In relation to the economy and tax system, the Basic Law provides that the Hong Kong (SAR) shall have independent finances and shall use its financial revenues exclusively for its own purposes. Further, the Basic Law provides that the PRC government shall not levy taxes in the Hong Kong (SAR).

The official currency of Hong Kong (SAR) is the Hong Kong Dollar (HKD).

Herein, the host country/territory refers to the country/territory where the expatriate is going on assignment. The home country/territory refers to the country/territory where the expatriate lives when they are not on assignment.

© 2019 KPMG, a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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