Tax Cuts Benefit Corporate Treasuries: Hong Kong has further strengthened its financial competitiveness with new tax breaks for business.
New tax rules, introduced in June, make Hong Kong more attractive for multinational corporations and Chinese mainland enterprises to set up headquarters and treasury functions in the city.
The key benefits, as outlined in a briefing by accounting network Grant Thornton, are substantial tax concessions. “Analysts believe that the move is a timely one in reinforcing Hong Kong’s credentials as a hub for corporate treasury centres (CTCs), at a time when many mainland Chinese companies are expanding overseas,” noted Grant Thornton.
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