World wide web of tax: Hong Kong
Electronic commerce (e-commerce) or digital business has become the new business model worldwide for years. The outbreak of COVID-19 appears to have accelerated e-commerce development. Compared to traditional business, a digital business has relatively low start-up and maintenance costs. More and more young entrepreneurs have been starting up their own e-commerce businesses, and market, promote, display and sell their products or services via the Internet.
Running a business will potentially result in the payment of tax. Entrepreneurs are therefore suggested to understand the tax position, exposures and obligations of their business. This article sheds some light on how the profits derived from e-commerce business are taxed in Hong Kong.
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Source: DutchCham HK Magazine 207