Hong Kong tax review 2022

The year in review: Hong Kong remains determined to enhance international tax cooperation and competitiveness amid challenges.

The world has continued to navigate through rough waters in 2022. While faint light has been spotted at the end of the COVID-19 tunnel, signs of resilience and growth have been clouded by various uncertainties. Despite these challenges, the international tax community is more than ever committed to enhancing international tax cooperation, with the OECD pressing ahead with the finalisation of the two-pillar solution under BEPS 2.0. Meanwhile, Hong Kong has brought about revolutionary changes to its foreign-sourced income exemption (FSIE) regime to combat cross-border tax evasion and prevent double non-taxation, and has further refined the tax system to enhance Hong Kong’s competitiveness.

The Hong Kong Tax Review 2022 summarises the significant tax updates in 2022 and previews the upcoming tax developments in 2023.

Landmark tax developments in 2022

  • Refinements to Hong Kong’s FSIE regime
  • Tax concession for maritime services
  • Proposed tax concession for family offices
  • The Inland Revenue Department’s eTax journey
  • Implementation of the OECD Multilateral Instrument to modify tax treaties

Other significant tax updates in 2022

  • Hong Kong’s responses to BEPS 2.0
  • Latest status of Hong Kong’s tax treaty network
  • Guidance revised/issued by the Inland Revenue Department
  • Update on Hong Kong profits tax cases
  • Update on Hong Kong stamp duty cases
  • Hong Kong salaries tax developments
  • Update on Hong Kong salaries tax cases

Contact us

Long Ma

National Tax Policy Services Leader, China North Tax Controversy and Dispute Resolution Leader , PwC China

Tel: +[86] (10) 6533 3103

Gwenda Ho

Senior Advisor, PwC Hong Kong

Tel: +[852] 2289 3857

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