The Hong Kong Inland Revenue Department has announced updated guidance on the new Foreign-Sourced Income Exemption (FSIE) regime that takes into account the refinements to the regime introduced by the Inland Revenue (Amendment) (Taxation on Foreign-sourced Disposal Gains) Bill 2023, which was approved by the Legislative Council on 29 November 2023. As previously reported, one of the main changes concerns the application of the FSIE regime to capital gains. Currently, the FSIE regime applies for foreign-sourced disposal gains in relation to shares or equity interests. From 1 January 2024, the FSIE regime also applies for foreign-sourced disposal gains in relation...