Hong Kong publishes draft legislation on BEPS 2.0 Pillar Two

23 January 2025|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, Global, BEPS 2.0|Hong Kong

Under a draft bill, recently published in Hong Kong, on the implementation of global minimum tax and minimum top-up tax, the Income Inclusion Rule and domestic minimum top-up tax will be effective from 1 January 2025, while the Undertaxed Profits Rule will be postponed.
A new definition of Hong Kong-resident entity will be introduced with retroactive effect from 1 January 2024; however, it is not expected to affect the tax liability or other obligations under the existing Hong Kong tax system.

&nb…

Continue reading with a Pro Subscription

Unlock full Orbitax Tax News content, including a historical database of tax news, alerts, and analysis from our network of tax experts, all tailored to your company footprint. Now includes Orbitax XatBot AI Tax Assistant.

Free trial available. Cancel anytime. Free Orbitax account required.