The new edition of this Wolters Kluwer title is now updated to cover the newest developments and trends in Hong Kong taxation for the year 2021/2012. The practical aspect of this title has proven to be of great value to candidates preparing for their professional qualification exams as well as to taxation and accounting students who would like to pursue a career in this exciting industry. The book provides an in-depth analysis of the taxation related issues in Hong Kong, from the implementation of new legislation to the latest departmental notes and current tax cases, as well as international tax issues promulgated by the Organisation for Economic Co-operation and Development (“OECD”) such as the Base Erosion and Profit Shifting Initiative (“BEPS”). New materials covered in the 2021/2012 edition include the following: Changes announced in the 2021/2012 budget; DIPNs 18, 35, 36, 37, 56 and 57 (Revised) issued in February 2020 DIPN 31 (Revised) issued in April 2020 DIPN 39 (Revised) issued in March 2020 DIPN 42 (Revised) issued in June 2020 DIPNs 47 (Revised) and 48 (Revised) issued in July 2020 DIPNs 58, 59 and 60 issued in July 2019 DIPN 1 (Revised) issued in September 2020 Profits tax exemption for funds and DIPN 61 issued in June 2020 Relief for aircraft leasing and ship leasing, and DIPN 62 issued in December 2020 The proposed rule on deduction of foreign taxes – section 16(1)(ca) China Mobile HK Co Ltd (HCIA 2/2017) Newly signed double taxation agreements/arrangements and protocols Enhanced statutory framework for the furnishing of tax return Discussion on China tax for cross-border business and employment is included and updated in this edition. The book also examines recent tax cases on such areas of practice as source of profits, capital/revenue receipts, taxability of unrealised gains, taxability of a lump sum received, and appeals procedure and capital/revenue expenses. Topic-related revision questions at the end of each chapter with suggested solutions are particularly useful for professional taxation examination candidates and undergraduate and postgraduate students.