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Leave your emailRegulatory authorities have issued a tax reclamation announcement, shattering the tax avoidance shell of trusts. Some Chinese tycoons are urgently paying back taxes in response to the requirements, even raising funds by selling off assets.
Read originalThe transition period for offshore trust tax filing ends on October 22. Late fees will be imposed for overdue filings.
Read originalA 2% tax is being pursued on offshore trusts, involving 8 tycoons including Lei Jun and Ding Lei with over HK$1 trillion in assets. This tax policy may trigger a chain reaction of asset sell-offs by the involved tycoons.
Read originalThe transition period for offshore trust tax declarations will end on October 22, and late fees will be charged to entities that fail to complete declarations by the deadline.
Read originalThe deadline for tax collection from the wealthy is approaching. Relevant commentary believes that this tax collection measure is killing the goose that lays the golden eggs.
Read originalThe tax authorities have issued a reminder that the deadline for handling related matters is October 22nd, urging relevant personnel to promptly complete the processing procedures.
Read originalOn 20 October 2026, the Hong Kong Inland Revenue Department issued a circular to tax representatives announcing arrangements for bulk extension of filing for 2025/26 tax year returns, specifying the extended filing deadline for 'M' code returns. These arrangements relate to extension applications for returns filed by tax representatives on behalf of taxpayers.
Read originalThe State Taxation Administration has issued a reminder regarding offshore trust tax filing. This reminder was published by Beijing News, and further specific filing requirements, scope of application, and other details have not been disclosed at this time.
Read original22 October is the deadline for individual income tax filing on overseas income in mainland China, and some Chinese high-net-worth individuals are currently raising funds by disposing of assets to settle back tax payments. This matter relates to mainland China's individual income tax administration on overseas income and the CRS information exchange mechanism.
Read originalThe deadline for individual income tax declaration on overseas income is approaching on October 22, and Chinese wealthy are "cutting flesh" to pay back taxes. This report comes from Canada News Network and does not mention specific back tax amounts, details of applicable rules, or information on relevant regulatory authorities.
Read originalSingapore's CARF has been officially implemented, marking the entry of local crypto tax transparency efforts into the execution phase. This initiative will promote cross-border exchange of crypto asset-related tax information and regulatory collaboration.
Read originalAs the tax back-payment deadline approaches, Chinese high-net-worth individuals are selling off assets and trust products. This development was disclosed by ATV News, and specific rule details and enforcement requirements for this back-payment have not yet been announced.
Read originalAustralia has released draft legislation proposing adoption of the OECD Crypto-Asset Reporting Framework by 2028. The draft aligns with the tax information exchange rules for crypto assets under the OECD CRS framework, and the implementation arrangements will affect tax filing and cross-border information exchange requirements for crypto assets in Australia.
Read originalAustralia plans to introduce cryptocurrency tax filing rules before their official implementation in 2028. Details such as the specific filing requirements and scope of application of the relevant rules have not yet been disclosed.
Read originalAccording to Lianhe Zaobao reports, Chinese ultra-high-net-worth individuals are terminating offshore trusts and raising funds to address tax collection. Details regarding the specific scale of trusts involved, tax collection policy specifics, and relevant enforcement departments have not yet been disclosed.
Read originalThe Hong Kong SAR Government published the Inland Revenue (Amendment) (Tax Deduction for Intellectual Property Expenditure) Bill 2026 in the Gazette on October 16, relaxing tax deduction arrangements for relevant capital expenditures incurred by enterprises in acquiring eligible intellectual property or obtaining licenses to use it.
Read originalAustralia has released a proposed bill to adopt the OECD Crypto-Asset Reporting Framework. The bill is currently in the draft stage and has not yet been officially implemented.
Read originalThe Hong Kong SAR government gazetted the Inland Revenue (Amendment) (Tax Deduction for Intellectual Property Expenditure) Bill 2026, relaxing tax deductions for capital expenditure incurred by enterprises on acquiring intellectual property or related usage licenses. The bill will apply to intellectual property acquisition or license contracts signed on or after 1 April this year, covering tax deductions for three types of capital expenditure: acquiring intellectual property from related parties, intellectual property used by licensees outside Hong Kong, and prepaid license fees for intellectual property usage.
Read originalThe Chief Executive in Council made six orders on October 6, 2026, under the Inland Revenue Ordinance (Cap. 112) to implement comprehensive avoidance of double taxation agreements signed with Barbados, Jordan, the Kyrgyz Republic, the Maldives, Norway, and Rwanda. The orders were published in the Gazette on October 16, 2026, and tabled before the Legislative Council on October 21 under the negative vetting procedure.
Read originalAthens is hosting a global operation against tax evasion. The operation focuses on international cooperation in the areas of OECD CRS and tax information exchange.
Read originalIndia hosted a seminar under the Asia Initiative framework, with the core topic of enhancing the effective use of Common Reporting Standard (CRS) data. The event was coordinated by relevant mechanisms of the Organisation for Economic Co-operation and Development (OECD).
Read originalThe Hong Kong government announced that the Stamp Duty (Amendment) (No. 3) Bill 2026 will be gazetted on October 2, implementing the relaxed stamp duty relief for intra-group asset transfers proposed in the 2026-27 Budget. Under current rules, affiliated enterprises are recognized if they directly or indirectly hold 90% or more of each other's issued share capital; the bill will lower this shareholding threshold to 75%, and include direct or indirect beneficial interests and voting rights as recognition criteria, covering new types of enterprises such as limited liability partnerships and companies limited by guarantee that do not issue shares.
Read originalChapter 7 of the 2026 Policy Address focuses on enhancing social well-being, covering directions such as quality education development, talent cultivation, youth, women, and family development. In the education sector, an AI digital education learning resource platform will be launched, the articulation of primary and secondary school curricula will be optimized, and the Education Ordinance will be revised to require teachers to hold practicing certificates. The Excellence Enhancement Programme for public schools will be launched in the 2026/27 academic year. At the same time, the additional training allowance of HK$1,000 per month for registered apprentices will be extended for two years, and Upskill Hong Kong is expected to release the first phase of the skills training framework in the first quarter of 2027.
Read originalIn the 2026 Policy Address delivered by the Chief Executive of the Hong Kong Special Administrative Region on September 16, 2026, two personal tax measures to encourage childbirth were proposed, both requiring legislative amendments to implement. The first measure raises the child allowance for the second and subsequent children born to taxpayers on or after September 16, 2026, as well as the additional child allowance for the first two years after a child's birth, from HK$140,000 to HK$160,000. This arrangement takes effect from the 2026/27 tax year, and claims can be made through established procedures until the child reaches the age of 25.
Read originalThe Hong Kong SAR Government has announced Part 6 of the Chief Executive's 2026 Policy Address, focusing on the development of the Northern Metropolis. The Northern Metropolis will take university towns as its core, planning to develop three university towns in San Tin, Hung Shui Kiu, and Ta Kwu Ling, with a total planned area of over 1,000 hectares, creating a development pattern that integrates education, technology, industry, talent, and livability. The three university towns will respectively focus on medicine and life health technology, higher education for intelligent manufacturing applications, and art and blue-green integrated development, with supporting promotion of related industries and research carrier construction.
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