Past Seminars / Events
Programme Code : 20170727
Event Date : 27 July 2017 (Thursday)
Time : 6:45pm - 8:45pm
Venue : UT, SCOPE, 8/F, United Centre, 95 Queensway, Admiralty, Hong Kong View google map
Speakers : Ms. Polly Wan, Director, Deloitte; Mr. Edmond Lam, Tax Manager, International and M&A Tax Services, Deloitte
Language : Cantonese
CPD Credit : 2 hrs
Proficiency Level : Advanced level
Fee : HK $ 250 for TIHK member / student
HK $ 350 for Non-member
HK $ 300 for members of organizations of CPD Alliance

Hong Kong adopts a “territorial source principal”, meaning only Hong Kong sourced profits are chargeable to Profits Tax in Hong Kong.  Companies carry out business in Hong Kong but generate profits outside of Hong Kong may submit to the Inland Revenue Department (IRD) that their profits are offshore sourced in order to get exemption of Hong Kong Profits Tax.  Generally speaking, IRD only accept the offshore claim if no substantial business activities are carried out by these companies in Hong Kong. 


Starting from 2017, companies have to self-certify their tax residency and provide various information to the Financial Institutions (FI) where they maintain their accounts under the regime of Common Reporting Standards (CRS).  Relevant information of the account holders would be reported to the IRD which would in turn send the information to other tax jurisdictions on a regular basis.  While CRS is a measure to enhance tax transparency and combat cross-border tax evasion, would it create any tax risks to these offshore companies - in Hong Kong and other tax jurisdictions?  With the automatic exchange of information begins in 2018, are there any actions that these companies should take now to reduce their tax risks?



Speaker Profile Content :
Ms. Polly Wan, Director, Deloitte

Polly Wan, Director of DTT will briefly discuss the implications of CRS to companies submitted offshore claim to the IRD and the actions that the companies should take in this regards.

Polly is a Tax Director of Deloitte Hong Kong. She has over 15 years of professional experience in providing Hong Kong, China and cross-border tax and business advisory services. She is experienced in advising her clients on entrance strategies in China and Hong Kong, cross-border investment structures, application of treaty benefits, strategies in handling tax controversial cases such as offshore claim and tax investigations, local compliance, etc. In particular, she has extensive experience in handling initial public offering in Hong Kong and Singapore, mergers & acquisitions cases as well as tax controversy cases in Hong Kong. Polly is a member of the ACCA, HKICPA and ICAEW.

Mr. Edmond Lam, Tax Manager, International and M&A Tax Services, Deloitte

Edmond is a manager in the International and M&A Tax Services team based in Hong Kong. He has over 6 years of experience in providing U.S. and international tax services to local and multinational clients in various industries, including private equity REITs, financial services, real properties and manufacturing companies. He is a member of AICPA and HKICPA.

Edmond has tax compliance and consulting experience in U.S. international taxation, and is familiar with tax issues related to fund structures. He also has substantial tax compliance working experience such as U.S. corporate and partnership tax returns, passive foreign investment company analysis, and U.S. information return with respect to certain foreign corporation and partnership. For the past few years, Edmond has focused on providing FATCA and CRS consulting services to various financial institutions and non-financial entities. He has also been seconded in an investment bank to assist on the FATCA implementation work.