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The PRC Ministry of Finance and State Taxation Administration have issued a groundbreaking announcement imposing individual income tax on offshore trusts with Chinese connections, treating them as tax transparent structures. This regime creates tax triggers throughout the trust lifecycle and includes a critical 90-day transitional filing window for existing structures. Affected individuals with offshore trusts connected to PRC residents or assets must urgently assess their compliance obligations under this

The Hong Kong Securities and Futures Commission has issued new guidance calling on licensed financial firms to strengthen their cybersecurity defenses against AI-enabled cyberattacks, as recorded incidents surge 27% year-over-year. The circular outlines five critical areas requiring immediate review and enhancement, from vulnerability management to incident response protocols, while emphasizing that senior management bears ultimate responsibility for cybersecurity risk in this rapidly evolving threat landsc

Hong Kong's commercial litigation landscape in 2026 is poised for significant developments across fraud-related claims, cryptocurrency disputes, and insolvency matters. The courts are expected to enhance cross-border judicial collaboration while accelerating digital transformation initiatives to streamline dispute resolution processes.