Hong Kong Catching Up – Modernising Hong Kong's Tax Loss Relief
6 Aug 2020
This report is released to propose the introduction of a relatively straightforward Group Tax Loss Relief regime. The regime can allow for unutilised tax losses of one group company or branch to be transferred and set off against the taxable profits of another company or branch within the same corporate group. It is believed such a regime in Hong Kong will capitalise on its long-established simple tax system and low tax rates, and provide stronger momentum to the economy as a whole.