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Hong Kong Profits Tax

Total income for a company through a financial year is further categorized into “assessable profits”. This “assessable profits” is total income less other non-taxable deductions/additions, such as interest, depreciation, charitable donations, and others. Hong Kong profits tax is then chargeable on this “assessable profits” for each year of assessment, at…
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Hong Kong banks to ease up on firms struggling to open accounts

More good news is coming from Hong Kong banks. After a flood of complaints from business owners who were having trouble opening new accounts due to strict international anti-fraud regulations, Hong Kong’s Monetary Authority will introduce new guidelines to help banks better conduct the risk-based approach in granting and retaining…
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