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Hong Kong IRD Extends Annual Report Submission Deadline for Companies with December Financial Year-End (2024-25 Period)
The Hong Kong Inland Revenue Department (IRD) has announced an extension for the submission of Profits Tax Returns for companies and businesses whose financial year-end falls between 1 and 31 December 2024 under the Block Extension Scheme.
Tax Optimization in the Gaming Industry: How to Minimize Costs and Protect Assets
The gaming industry has long transcended its role as mere entertainment, evolving into a powerful economic sector where digital assets—skins, virtual currency, and even entire virtual worlds—are worth millions. Landmark deals, such as the sale of planet Calypso in Entropia Universe for $6 million or virtual Amsterdam in Second Life for $50,000, highlight GameDev's financial potential. However, with revenue comes tax obligations. How can gaming studios in Russia and abroad optimize taxation and protect their assets?