A Recap on Hong Kong Tax System and The Latest Updates

The HKCCA’s Executive Committee invites you to the following presentation, hosted by Oldham, Li & Nie.

Lunch Presentation. Food and drinks will be provided. One (1) Law Society of Hong Kong CPD point has been accredited. New York and California Approved Jurisdiction policy may apply.

TOPIC: A Recap on Hong Kong Tax System and The Latest Updates

This session will cover the background of the HK tax system and its latest updates. In-house counsel should attend to understand how businesses can gain advantage of such changes and what they must be aware of. Moreover, they will understand the tax updates from both the legal and accounting perspectives.

1. Introduction of Hong Kong tax system

- What is the scope of charge of Hong Kong profits tax?

- How to determine the source of income?

2. Latest update: Corporate Treasury Centre

- History background – tax position of having intra-group financing business in Hong Kong before the enactment

- Who can qualify as a CTC? What are qualifying profits?

- What are the tax advantages of being a CTC?

- What are the changes in taxation and deduction of interest for an intra-group financing business?

3. Latest update: Automatic Exchange of Information (“AEOI”)

- What is AEOI? Who will be affected?

- How does the reporting mechanism work?

- What information and whom will the Inland Revenue Department exchange with?

- Are there any sanctions for non-compliance?

4. Latest update: Base erosion and profit shifting

- Transfer pricing (“TP”) mechanism

- What are the proposed TP documentation requirements in HKSAR’s consultation paper?

SPEAKERS: Anna Chan, Partner and Victor Ng, Associate/Certified Public Accountant

Anna Chan, Partner Anna advises on tax matters, including planning on tax efficient structures, tax optimisation and compliance issues. She has advised and acted in connection with a number of high profile cases involving shareholders’ disputes, debt recovery, civil fraud, derivative action and contentious regulatory matters. Anna has acted for clients in connection with disputes in the High Court and Court of Appeal, including acting as advocate to obtain injunctive relief in cyber-fraud cases in the High Court. Before joining OLN, Anna was a credit analyst in one of the largest international banks. Her strong background in accounting provides a competitive edge in tackling complex commercial disputes especially those requiring forensic accounting and understanding of financials.

Victor Ng, Associate/Certified Public Accountant Victor also advises on international tax planning matters with a focus on transactions and investment involving HK, China and the EU. He also advises corporations with respect to tax aspects of direct foreign investment, mergers and acquisitions, permanent establishment concerns and tax treaty issues. His practice also focuses on cross-border corporate and commercial transactions, including mergers and acquisitions, due diligence, foreign direct investments and general commercial matters.

EVENT DETAILS:

If you have any suggestions for topics or speakers for future HKCCA events, please let us know at events@hkcca.net.

Please note this event is exclusively for HKCCA members. If you are not an HKCCA member but you want to attend this presentation, you need to successfully apply for membership at www.hkcca.net and pay the membership fee before registering for the event. If you have any membership queries, please contact HKCCA Secretariat on info@hkcca.net or (852) 2516 7007.