Advice needed from HK tax specialist
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I am seeking a Hong Kong tax specialist to provide me with corporate taxation advice. As a resident of h Australia who is the sole owner and director of a company registered in Hong Kong, I have not previously sought tax advice in Hong Kong.
Ideal skills and experience:
- Expertise in Hong Kong corporate taxation laws and regulations
- Experience working with clients who are residents of Hong Kong
- Strong communication skills to effectively explain complex tax concepts to clients
- Proven track record of providing successful tax planning strategies for corporations
- Experience with Australian tax laws and regulations
I am looking to loan myself money from my HK company to myself, an Australian resident. I need advice regarding the tax payable on the repayment of the loan.
I am aware Hong Kong has provisions in its tax laws to prevent tax avoidance and address transactions between companies and shareholders or associates. These provisions aim to ensure that transactions are conducted on an arm's length basis and that income is properly accounted for and taxed.
I believe that if the loan is not on commercial terms, the tax authorities in Hong Kong may deem the arrangement as a sham and apply anti-avoidance provisions to recharacterize the transaction and impose appropriate tax consequences.
I am looking to find out what these rules are. In Australia the equivalent would be division 7a.
I would need advice with sources sited to show to my solicitor and accountant, and some approximate calculations of the tax payable.
Project ID: #36693708