|Programme Code :||20190411|
|Event Date :||11 April 2019 (Thursday)|
|Time :||6 : 45 pm - 8 : 15 pm (6 : 15 pm registration)|
|Venue :||Room UR8, SCOPE, 8/F, United Centre, Admiralty||View google map|
|Speakers :||Ms Loretta Chan, Ms Gwenda Ho and Ms Anita Tsang|
|CPD Credit :||1.5 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
As a follow-up work under Action 5 on Countering Harmful Tax Practices of the G20/OECD's Base Erosion and Profit Shifting Project, a number of no or nominal tax countries have recently enacted domestic legislation to require locally established companies to have sufficient substance / substantial business activities locally.
In particular, the BVI and Cayman Islands, the preferable jurisdictions where Hong Kong business groups have historically been locating their investment holding companies, had enacted the substance legislation effective on January 1, 2019. In Cayman Islands, pre-existing companies have to comply with the substance requirements by July 1, 2019 the latest. Since non-compliance may result in penalties, spontaneous exchange of information or strike-off from the company register and there is only a few months to plan and take actions, this seminar will attempt to address your concerns and illustrate possible ways to deal with the changes. In this seminar, the speakers will discuss the following:
l Background of the new substance requirements
l Summary of the substance legislation and requirements in the BVI and Cayman Islands
l Potential consequences for non-compliance
l The ways that the investment holding and business operating structures may be affected
l Possible options to deal with the changes and issues to consider
Partner, Corporate Services, PwC Hong Kong
Prior to joining PwC in 2015, Loretta was the Consultant of an international law firm.
Loretta started her career in the legal field. She is a solicitor qualified in Hong Kong and has extensive experience of advising on corporate and commercial matters both in private practice and as an in-house legal counsel. She had headed the legal department of a listed group comprising three Hong Kong listed entities for five years. Before going in house, she was a partner of an established law firm in Hong Kong.
Loretta received her Bachelor of Laws degree from The University of Hong Kong. She also received a Bachelor’s degree in China Law from the China University of Political Science and Law and a Master’s degree in Comparative and Public History from The Chinese University of Hong Kong.
Loretta is currently a Member of the Hong Kong Law Society, a Fellow of the Hong Kong Institute of Chartered Secretaries (“HKICS”), a Council Member of HKICS, the Chairman of its Professional Services Panel and the Vice Chairman of its Professional Development Committee.
2. Ms Gwenda Ho
Partner, Corporate tax practice, PwC Hong Kong
Gwenda Ho has over 20 years of experience in providing Hong Kong and international tax consulting and compliance services to local, regional and multinational clients. She has been actively involved in a number of tax due diligence, corporate restructuring, cross-border tax advisory, transfer pricing, tax investigations, IPO and crypto projects. She has broad exposure in Asia Pacific and international taxation and frequently leads assignments involving regional and other overseas taxes.
Experienced in advising both overseas MNCs and Chinese companies on investing into Hong Kong as well as using Hong Kong as a platform for outbound investment, in the past few years Gwenda is also active in the startup community, eagerly assisting startups with their new business setups. Besides, she has been actively involved in providing comments on latest tax bills, and is a frequent public speaker on tax-related topics.
3. Ms Anita Tsang
Associate Director, National Tax Policy Services, PwC Hong Kong
Anita has over 12 years of experience in Hong Kong and international taxation. She provided corporate tax and business consulting services to a broad range of local and multinational companies at another big four firm before joining the PwC National Tax Policy Services team. Currently, Anita focuses on providing in-house tax technical support and training at PwC Hong Kong as well as producing the firm’s tax publications. Anita is a regular speaker of professional tax seminars.
Anita is a member of the Tax Sub-committee of the Association of Chartered Certified Accountants (ACCA) in Hong Kong, and the Vice-President of the International Tax Committee and a member of the Tax Policy Committee of the Taxation Institute of Hong Kong (TIHK). She is also a fellow member of the Hong Kong Institute of Certified Public Accountants (HKICPA) and a Certified Tax Adviser (Hong Kong).