Hong Kong companies only have profits tax and salaries tax. The tax paid by the profit part of the company becomes the profit tax, and the profits generated outside Hong Kong or overseas can be reasonably avoided. However, CRS (Common Reporting System) was implemented in Hong Kong on 2065438+2007+ 1. The full name of CRS is * * *, and the account information of Hong Kong companies will be * * * shared in the mainland. I didn't expect that the profits made overseas or those not generated locally in Hong Kong would be cancelled, so now Hong Kong companies need to do accounting and tax returns like mainland companies.

This means that from the date of 1 this year, under the new situation of CRS, offshore financial instruments will be declared as information, and it will become impossible to hide assets and evade taxes through offshore finance. Secondly, according to the Inland Revenue Ordinance of Hong Kong, all assessable profits arising in or from Hong Kong are taxable, except the profits from the sale of capital assets. There is no difference between Hong Kong people and non-Hong Kong people on the object of taxation. Profits earned by Hong Kong people outside Hong Kong are tax-free in Hong Kong. Conversely, non-Hong Kong people have to pay taxes when they earn local profits in Hong Kong. If the profit is not generated locally in Hong Kong, you don't have to pay tax even if you remit the money back to Hong Kong. Among them, there are three standards for paying taxes: 1, operating any industry, occupation or business in Hong Kong; 2. Earn profits from a certain industry, profession or business, except the profits generated from the sale of capital assets; 3. The profit is generated in or derived from Hong Kong. In addition, I have to say that the tax rate in Hong Kong is very favorable compared with that in China.