Management consultancy activities

Under the updated framework, ISIC 702 is categorized as 'Consultancy Services' which is an Excluded Activity. Forensic auditors will scrutinize the 'Related Party' nexus and the specific nature of CIGA (Core Income Generating Activities) to ensure the service is not being provided to Mainland entities or third parties while claiming Qualifying Income status.

Audit Red Flag

Re-characterizing general third-party advisory fees as 'Headquarter Services' or 'Intra-group financing' to circumvent the Excluded Activity status.

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