|Programme Code :||20190521|
|Event Date :||21 May 2019 (Tuesday)|
|Time :||6 : 45 pm - 8 : 45 pm (6 : 15 pm registration)|
|Venue :||Auditorium, Duke of Windsor Social Service Building, 15 Hennessy Road, Wanchai, Hong Kong||View google map|
|Speakers :||Mr. Patrick Kwong and Ms. Kathy Kun|
|CPD Credit :||2 hrs|
|Proficiency Level :||Intermediate Level|
HK $ 250 for TIHK member / student
HK $ 350 for Non-member
HK $ 300 for members of organizations of CPD Alliance
This seminar will cover new tax legislative and case law developments in Hong Kong for the past year. In addition, a number of low or no tax jurisdictions such as Cayman Islands and the British Virgin Islands, introduced legislation in late 2018 to require entities incorporated or registered in those jurisdictions to have sufficient economic substance in the jurisdictions concerned in order to enjoy the no or low tax rates offered by those jurisdictions. How would the latter developments impact Hong Kong-based groups that employ CIs or BVIs in their holding or operating structures?
l Legislative developments:
- Introduction of a super-tax deduction regime for qualifying research and development expenditure
- Codification of interim assessing practice that aligns the tax treatment of financial instruments with their fair value accounting treatment under HKFRS 9
- Implementation of a unified fund regime that grants profits tax exemption to all privately-offered funds in the form of collective investment schemes
l Case law development:
- Koo Ming-kown and Murakami Tadao v CIR – can Section 82A additional tax be imposed on directors of a company?
- The Dairy Farm Company, Limited for Dairy Farm Establishment v CIR – are taxpayers obliged to purchase multiple tax reserve certificates for alternative assessments in respect of the same profits?
l International tax developments:
- Introduction of economic substance requirements in tax haven jurisdictions such as CIs and BVIs – what are the implications for Hong Kong-based group taxpayers?
Mr. Patrick Kwong has more than 30 years of tax experience advising clients across various industries and sectors. He is a past president and a member of the Advisory Board of the Taxation Institute of Hong Kong. Patrick is also a member of the Joint Liaison Committee on Taxation, which is a forum for discussion between revenue officials, legislators, tax practitioners and other relevant bodies on tax related technical matters and legislation. Patrick is a regular speaker at tax seminars and conferences and has authored a number of tax articles published in various professional journals and magazines.
Ms. Kathy Kun, Senior Manager, Tax & Business Advisory Services, EY
Kathy is a Senior Manager of the National Tax Centre of EY with over 10 years of experience. She is responsible for developing and updating tax training materials, as well as conducting internal tax training courses. She is a frequent speaker at tax seminars and is one of the authors of the Firm’s tax client publications.