The Hong Kong Inland Revenue Department has published guidance on the new Foreign-sourced Income Exemption (FSIE) regime for passive income, which is pending final approval of the Inland Revenue (Amendment) (Taxation on Specified Foreign-sourced Income) Bill 2022 by the Legislative Council. As previously reported, the new FSIE regime will allow tax exemptions for specified foreign-sourced passive income received in Hong Kong by relevant MNE entities provided that certain exemption conditio…