Nonqualifying R&D expenditures will continue to be eligible for the normal 100% deduction. Under the New Law, effective for expenditures incurred on or after 1 April 2018, qualifying R&D expenditures on a qualifying R&D activity (wholly undertaken and carried on within Hong Kong) will be eligible for a 300% deduction for the first HK$2 million (USD250k), and the remainder, a 200% deduction without limitation. ![]() The Hong Kong Inland Revenue Department (HKIRD) issued a practice note (PN) in April 2019, providing a detailed explanation and guidance on the normal or additional tax deductions for research and development (R&D) expenditures under the recently enacted law (the New Law) 1. Hong Kong Tax Authority issues practice note on deductibility of R&D expenditures
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