Hong Kong's New Foreign-sourced Income Exemption (FSIE) Regime

Further to the consultation launched by the Hong Kong SAR Government on the proposed FSIE regime in June 2022, the Inland Revenue (Amendment) (Taxation on Specified Foreign-sourced Income) Bill 2022 (the Bill) was gazetted on 28 October 2022. The new FSIE regime would take place with effect from 1 January 2023.

Corporate groups operate in multiple jurisdictions expecting to accrue / receive in Hong Kong the specified foreign-sourced income (i.e. interest, intellectual property income, dividends and disposal gains derived from sale of equity interest) would be covered by the FSIE regime where tax exemption would continue to be available if certain conditions are met.

The Bill is more than 70 pages long, which is one of the most significant amendments to the Inland Revenue Ordinance (IRO). To carry on our webinar held in August 2022, KPMG speakers will update you with an overview of the Bill together with the administrative guidance that the IRD has published, and our views on some practical considerations to prepare yourself to embrace the new era of Hong Kong taxation.

Remarks:

• Access link for the webinar will be sent to participants 1 day before the event. This session will be conducted via Zoom.

Registration Deadline: Thursday, 24 November 2022

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This Webinar may be recorded for internal reference.

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