FSIE update: expanding the scope of foreign-sourced disposal gains
2023-11-08
On 13 October 2023, the Inland Revenue (Amendment) (Taxation on Foreign-sourced Disposal Gains) Bill 2023 (“the Amendment Bill”) was gazetted. The Amendment Bill modifies Hong Kong’s Foreign-sourced Income Exemption (“FSIE”) regime by extending the scope of foreign-sourced disposal gains to cover all types of property, except for disposal gains derived by traders. In this regard, we are pleased to summarize the major amendments and share our relevant thoughts for your reference.
For further enquiries, please feel free to contact your usual PKF tax executives, or reach out to our Tax Partner, Henry Fung (henryfung@pkf-hk.com).