Hong Kong updates tax laws for charities and public trusts
This information was published by Hong Kong Ministry of Internal Revenue. The new tax legislation contains the interpretation and practice of the Department regarding taxation of charities or public trusts and other related matters, including the following sections:
- The value of charity.
- Constitution of mercy.
- Charity Taxation.
- Charities under Hong Kong jurisdiction.
- Other tax benefits.
- Approved Charity Donations.
- How charity is recognized as a tax-free charity.
- Overview of tax benefits and tax liabilities.
The new legislation is not peremptory and does not affect a person’s right to object or appeal to the Ombudsman, Review Board, or court.
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