International Tax and Business Advisory in Hong Kong and Shanghai
Other Offices: Shanghai
Law Firm OverviewMasson de Morfontaine in Hong Kong and Shanghai provides top-quality tax and business advice for corporates, financial institutions and individuals. We provide clients with advice in a wide range of tax and business areas, including investments, M&A transactions, real estate, transfer pricing, litigation, intellectual property, employer and employee tax issues, immigration, etc.
We specialize in Asian, European and African jurisdictions and partner with leading independent global tax & business consultants in order to deliver seamless services across multiple countries.
Diverse backgrounds, nationalities and areas of expertise of our team combined with many years of consulting and in-house working experience allow us to understand very clearly the challenges of operating in a global market and to cover clients' requirements from A to Z.
Languages: English, French, Mandarin, Cantonese, Russian
Areas of Law
Additional Areas of Law: Discretionary Trust; Life Interest Trust; Charitable Trust; Purpose Trust; Fixed Trust; Vista Trust; Foundation; International Tax Services; International Corporate Tax Planning & Transactional Work; International Business Advisory; Company Registration.
Ms. Catherine Le Bourgeois
Business and Industry, Immigration, Tax
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Articles Published by Masson de Morfontaine
Hong Kong recently announced record-breaking fiscal surplus of 138 billion HKD from the 2017-18 fiscal year. This is mostly thanks to high revenue from profits tax, land sales, stamp duties and salaries tax. Last year was indeed exceptional for the Asia’s world city, as its economy grew by 3.8% and unemployment rate reached a 20-year low of 2.9%.Read Article
A two-tiered profits tax rates regime was proposed by the Hong Kong Government during the last quarter of 2017 and the relevant Inland Revenue (Amendment) (No.7) Bill 2017 (the "Bill") was gazetted and introduced to the Legislative Council early this year.Read Article
Dividends derived from China by a foreign investor are currently subject to China Enterprise Income Tax in the form of Withholding Tax at 10%. In order to attract foreign capital flow into China, a preferential tax deferral policy has recently been implemented by the Chinese government.Read Article
Passive incomes such as dividends, interests, royalties, capital gains derived from China by a non-Chinese tax resident enterprise (“NRE”) are generally subject to China enterprise income tax in the form of withholding tax.Read Article
Since early this year, the Chinese government has released various circulars to promote and attract foreign investments.Read Article
Under the China Enterprise Income Tax (“EIT”) Law, a resident enterprise may enjoy Research & Development (“R&D”) super deduction incentiveRead Article
As from 1 July 2017, the 13% VAT rate was abolished in China and the rate for agricultural products, public utilities and cultural products was reduced to 11%.Read Article
The Chinese State Council has updated foreign investment negative list applicable to all 11 free-trade zones (FTZs). These special zones offer foreign companies tax concessions and simplified administrative procedures and are particularly attractive for high-end consumer goods, electronics, telecommunications and medical companies who want to expand their business to China.Read Article
On 7 June 2017, senior officials and representatives of 67 jurisdictions (including Mainland China, who also represented Hong Kong SAR) gathered in Paris to participate in the signing ceremony for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting or the Multilateral Instrument (MLI).Read Article
Automatic Exchange of Financial Account Information: A Matter of Compliance for Wealthy Chinese Citizens?
In 2014, the Global Forum endorsed the new common reporting standard on automatic exchange of financial account information (AEOI). Jurisdictions that have publicly committed to implementing the AEOI standard on a timeline will first exchange tax information in 2017 or 2018.Read Article
Since 1 May 2016, Business Tax has no longer been under China’s indirect tax regime and this signifies the completion of the B2V Reform in China. The VAT chain in China is completed for largely all industries and taxpayers could claim VAT credit for the purchase of tangible goods, immovable properties, intangibles and most services.Read Article
Hong Kong is now challenging the tax substance of special purpose vehicles (SPV) such as intermediate holdings and this is producing great troubles for some companies.Read Article
Donald Trump’s election as the USA’s 45th president combined with continued Republican control of both the House and Senate will almost surely result in passage of a major tax cut in 2017.Read Article
Consider buying a property in Sydney? You would better be prepared to pay a 4% duty surcharge. This new tax rule has been put in place on 21st June, 2016 and applicable to all home purchases in New South Wales, making the state the second in Australia to impose stamp duties on foreign purchasers. In addition, there will also be a 0.75% land tax surcharge on top of the aforesaid stamp duty surcharge from 2017 onwards.Read Article
Leave or Remain? We will know the answer today! One can imagine that if UK leave the EU, the country is very likely to have their own tax and TP legislation. Facing the possible leave vote, MNCs may eager to determine the potential tax implications such as the absence of the EU Parent-Subsidiary Directive and the imposition of WHT on dividends.Read Article
The Singapore Government has recently announced in their budget that, the concessionary tax rate for corporate operations that qualify as Corporate Treasury Centre (CTC) would be 8%, decreased from 10%, and such move set the major tax rate to 0.25% lower than the level proposed by the Hong Kong Government as part of their CTC tax incentive measures which are still undergoing legislative process.Read Article
China is taking forward the Belt and Road initiative, the national strategy for long term development. It is certain that the emerging markets along the routes are likely to become the new catalyst for the future development of Hong Kong.Read Article
The Commissioner of Hong Kong Inland Revenue Department recently commented on the implementation of BEPS project in Hong Kong, particularly in the area of transfer pricing (TP). The Hong Kong Government regards TP legislation and TP documentation requirements are their top priority. The Commissioner also said that the simplified limitation on benefits (LOB) rule as well as the principle purposes test (PPT) will very likely be the norm for Hong Kong tax treaties in the coming future.Read Article
Hong Kong and Russia have entered into a Comprehensive Double Tax Agreement (“CDTA”) on Jan 18, 2016. This is the 34th CDTA that Hong Kong has signed with its trading partners. The CDTA sets out clearly the allocation of taxing rights between the two jurisdictions and thus will help investors better assess their potential tax liabilities from cross-border economic activities.Read Article
Nowadays, owing to the growing importance of the Asian market, multinational corporations are encouraged to set up their corporate treasury centres (“CTC”) in the region.Read Article
According to the China central government’s 13th five-year plan, it has showed its full support for Hong Kong to participate in the nation's "One Belt One Road" development strategy, in which Hong Kong is going to play a bigger role in China's opening up to the rest of the world.Read Article
On 5 October 2015, the Organisation for Economic Cooperation and Development (OECD) issued a final report with regards to its Action Plan to address Base Erosion and Profit Shifting (BEPS), as well as a plan for follow-up work and a timetable for implementation. In this article, we shall focus on the action plan regarding transfer pricing (TP) and its tax implications to China and Hong Kong.Read Article
Italians Can Derive Tax Benefits from the Newly Enforced Double Tax Treaty with HK when Investing in China
The agreement between Hong Kong and Italy for the avoidance of double taxation with respect to taxes on income and the prevention of fiscal evasion has entered into force.Read Article
On 17 July 2015, the Hong Kong Government gazetted the Inland Revenue (Amendment) (No.2) Ordinance 2015 (“the Ordinance”), which extended the profits tax exemption for offshore funds to private equity (“PE”) funds.Read Article
Islamic finance is one of the fastest growing sectors in the international financial market. Given the strategic importance and influence of the Middle East investors, Islamic finance is increasingly in demand by investors wanting investment and financing products compliant with Islamic law (known as “Shariah”).Read Article
Hong Kong was named among the thirty uncooperative tax jurisdictions in the European Commission’s (“EC”) tax haven blacklist released on June 17, 2015. The tax jurisdictions on the aforesaid list had been flagged up by ten or more European Union member states. Six of the thirty countries blacklisted are former British territories. Countries notable by their absences include Jersey, Luxembourg and Switzerland, whose secretive tax system are well-known to the world.Read Article
The Chinese real estate boom in Australia will only be accelerating. It is predicted that an additional $70 billion demand for real estate from Chinese HNWI investors and immigrants over the next five years to 2020. It is an inevitable trend since China is undergoing its unprecedentedly greatest wealth creation, and Australia is on China’s doorstep.Read Article