To keep pace with the global trend of digital transformation,the Inland Revenue Department of Hong Kong SAR,China(HKIRD)has embarked on its digital transformation journey to upgrade its information technology(IT)infra...To keep pace with the global trend of digital transformation,the Inland Revenue Department of Hong Kong SAR,China(HKIRD)has embarked on its digital transformation journey to upgrade its information technology(IT)infrastructure and pave the way for full adoption of electronic filing(e-filing)of profits tax returns for businesses(the e-filing project).The e-filing project was implemented in phases starting from June 2020 and expects full implementation by June 2025.The first phase of the digital transformation was successfully implemented earlier this year allowing more businesses to voluntarily e-file their profits tax returns.This article discusses the motivations behind the HKIRD’s e-filing project,the implementation process as well as its implications for Hong Kong SAR,China.Digital transformation is an inevitable development in the society and commerce.To keep pace with the global trend of digital transformation,the public sectors in various jurisdictions have been digitalising financial and tax reporting over the past decades to harness IT to improve delivery of public services to customers and enhance the standard of information collection and administration.展开更多
This article discusses some major changes and developments in ac-counting standards(i.e.IFRS 15 and IFRS 16)and international taxation rules(i.e.the Two-Pillar solution under BEPS 2.0)and new business models(i.e.crypt...This article discusses some major changes and developments in ac-counting standards(i.e.IFRS 15 and IFRS 16)and international taxation rules(i.e.the Two-Pillar solution under BEPS 2.0)and new business models(i.e.cryptocurrencies and Non-Fungible Tokens)which may have significant impact on taxpayers and pose challenges to tax administrations on how to provide tax certainty and better taxpayer services.The article briefly analyses the impact of these developments on taxpayers and makes suggestions for tax policymakers and tax administrations in the Belt andwww.britacom.org Road jurisdictions.展开更多
The COVID-19 pandemic has presented significant challenges to businesses and households around the globe.In response to the outbreak of the pandemic,governments are using tax policies and tax administrative measures t...The COVID-19 pandemic has presented significant challenges to businesses and households around the globe.In response to the outbreak of the pandemic,governments are using tax policies and tax administrative measures to alleviate corporates and individuals from cash flow pressures.This article summarizes the tax policy measures taken by a few BRI jurisdictions,provides an overview of the cross-border issues arising from exceptional and temporary work location changes due to the pandemic and briefly discusses the challenges faced by governments and corporates and how tax can play a role to deal with these challenges.展开更多
文摘To keep pace with the global trend of digital transformation,the Inland Revenue Department of Hong Kong SAR,China(HKIRD)has embarked on its digital transformation journey to upgrade its information technology(IT)infrastructure and pave the way for full adoption of electronic filing(e-filing)of profits tax returns for businesses(the e-filing project).The e-filing project was implemented in phases starting from June 2020 and expects full implementation by June 2025.The first phase of the digital transformation was successfully implemented earlier this year allowing more businesses to voluntarily e-file their profits tax returns.This article discusses the motivations behind the HKIRD’s e-filing project,the implementation process as well as its implications for Hong Kong SAR,China.Digital transformation is an inevitable development in the society and commerce.To keep pace with the global trend of digital transformation,the public sectors in various jurisdictions have been digitalising financial and tax reporting over the past decades to harness IT to improve delivery of public services to customers and enhance the standard of information collection and administration.
文摘This article discusses some major changes and developments in ac-counting standards(i.e.IFRS 15 and IFRS 16)and international taxation rules(i.e.the Two-Pillar solution under BEPS 2.0)and new business models(i.e.cryptocurrencies and Non-Fungible Tokens)which may have significant impact on taxpayers and pose challenges to tax administrations on how to provide tax certainty and better taxpayer services.The article briefly analyses the impact of these developments on taxpayers and makes suggestions for tax policymakers and tax administrations in the Belt andwww.britacom.org Road jurisdictions.
文摘The COVID-19 pandemic has presented significant challenges to businesses and households around the globe.In response to the outbreak of the pandemic,governments are using tax policies and tax administrative measures to alleviate corporates and individuals from cash flow pressures.This article summarizes the tax policy measures taken by a few BRI jurisdictions,provides an overview of the cross-border issues arising from exceptional and temporary work location changes due to the pandemic and briefly discusses the challenges faced by governments and corporates and how tax can play a role to deal with these challenges.