May 2022

Travelling to Hong Kong in May 2022 and Tax Update

May 2022

Traveling to Hong Kong in May 2022 Amidst The Pandemic - A Trip for The Brave and Fearless

A first-hand report from our Managing Partner Stefan Schmierer.

For as long as we could recall, Hong Kong was once known as an international financial centre with people from all over the world, be it for business or leisure. Businessmen from Mainland China met their Western counterparts to negotiate and discuss transactions, tourists from Mainland China came for shopping sprees, and tourists from Western countries, such as the US and Europe, came for sightseeing.  Hong Kong was deemed as a hub to further explore China and its neighbouring Asian countries.

May 2022

How Tax Reform BEPS 2.0 Impacts International MNEs in Hong Kong

In a historical agreement signed on 1 July 2021, 130 nations endorsed a declaration outlining a framework for reforming international tax regulations. Hong Kong, as an international financial and commercial centre, announced to implement BEPS 2.0 (Base Erosion and Profit Shifting), which consists of two pillars. BEPS 2.0 primarily targets major MNEs (multinational enterprises) that fulfil the defined standards but will have no impact on Hong Kong's small and medium-sized firms.

German Lawyer Answers Common Questions About Doing Business in Hong Kong | Stefan Schmierer