June 2018

Two-tiered profits tax rates regime

On 29 March 2018, the Inland Revenue (Amendment) (No.3) Ordinance 2018 was gazetted to implement the two-tiered profits tax rates regime proposed by the Chief Executive. The two-tiered profits tax rates regime applies to both corporations and unincorporated businesses in any year of assessment commencing on or after 1 April 2018.

Loren Chan
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What challenges and opportunities has the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Bill 2017 brought to small-medium-sized accounting firms?

The Anti- Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2017 became effective on 1 March, stepping up the roles of professional accountants and auditors in preventing financial crime.

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