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Are there lawyers or auditors practicing in Hong Kong on this forum? I have heard unconfirmed rumors that to grant offshore status CIR may require a confirmation that profit taxes were paid elsewhere.
It is very unusual to be honest for this to be checked, but any queries can normally be dealt with via the audit at year end. It is very rare for anyone to have an issue with this.
Are there lawyers or auditors practicing in Hong Kong on this forum? I have heard unconfirmed rumors that to grant offshore status CIR may require a confirmation that profit taxes were paid elsewhere.
Yes, we discussed this already quite some times here. It does and can happen but it is not part of standard procedure. In any case, you have to pay an audit in Hong Kong which will cost you quite a bit.
The new regulations and processes (if that's what you're referring to) are primarily meant to capture multinational entities that have operations/business physically in HK and also outside. Companies were doing that and claiming everything happened outside of HK.
Are there lawyers or auditors practicing in Hong Kong on this forum? I have heard unconfirmed rumors that to grant offshore status CIR may require a confirmation that profit taxes were paid elsewhere.