On 23 February 2022, the Financial Secretary (FS) of Hong Kong announced the 2022/23 Hong Kong Budget (Budget). This Alert summarizes the key features of the Budget.
BEPS 2.0 proposals – implementation in Hong Kong
The FS indicated that a legislative proposal will be submitted in the second half of 2022 to implement the global minimum tax rate and other relevant requirements under the OECD’s1 BEPS2 2.0 project from 2023 in accordance with the international consensus. It will only apply t…