The Hong Kong Inland Revenue Department (IRS) has published new FAQs and illustrative examples on the Foreign-Sourced Income Exemption (FSIE) Regime. The new illustrative examples include an example on the computation of the nexus fraction in relation to the sale of qualifying intellectual property and an example on whether the subject to tax condition is met. The new FAQs concern covered income, the economic substance requirement, and the participation requirement, and include the following: --- 9. Q: An unremitted specified foreign-sourced income has been applied to acquire immovable or movable property located outside Hong Kong and the property is subsequently...