Hong Kong Updates

Taxation

The Inland Revenue (Amendment) (No.2) Ordinance 2015 has exempted specific types of offshore private equity funds from profits tax in Hong Kong. The purpose of this amendment is clearly to encourage more funds of various types to operate in Hong Kong and to strengthen Hong Kong as an international asset management hub.

Double Tax Agreement

The Italy/Hong Kong tax treaty will take effect in Hong Kong on 1 April 2016.

Employment

Section 30 of the Labour Tribunal Ordinance gives the Labour Tribunal the power to order a party to proceedings in front of it to provide security for the payment of an award that has been or may be made. In a welcome pro employer decision, this power has recently been exercised in favour of an employer, by requiring an ex-employee with a possibly frivolous claim to provide security before proceedings could commence.

Data Privacy

The Office of the Privacy Commissioner for Personal Data has upheld a complaint by a former employee that the collection of her fingerprint data for the purposes of accessing the employer’s offices and monitoring employee attendance was unnecessary and excessive. The basis of the decision was primarily that fingerprint data are unique to an individual and therefore of too personal a nature to justify their use in this way.

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Primasia will post the updates of Hong Kong and China from time to time. Follow us on our Website/ Blogger/ LinkedIn and stay tunned for our updates!

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John Barclay -Email

Teresa Tam - Email 

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Primasia Corporate Services Limited

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