We would like to remind you about the government consultation exercise on the captioned subject, as advised in the previous Association circulars.

Some of you already joined the Association secretariat in the government engagement session held on 12 January to exchange views on the captioned subject.

Briefly, In 2023-24 Budget, the Financial Secretary announced that Hong Kong planned to apply the global minimum effective tax rate of 15 per cent on multinational enterprise groups with annual consolidated revenue of at least 750 million euros under the BEPS 2.0 package and implement the Hong Kong minimum top-up tax (HKMTT) from 2025 onwards. For this purpose, the Financial Services and the Treasury Bureau (FSTB) has commenced a consultation exercise to gather views on the specific implementation issues. The consultation paper is available on the website of the FSTB (https://www.fstb.gov.hk/tb/en/others/consultation.htm).

If you did not attend the engagement session of 12 January but would like to share your views with the government, please write to beps@fstb.gov.hk by 20 March 2024.

Of course, please also feel free to raise your issues through the Association