Speaker(s)

Description

The seminar aims to discuss the importance of managing tax-related risks as part of good corporate governance, and to explore the potential benefits of periodic review of business operating models against prevailing tax regulations or practices.

The speaker will cover practical ways of managing tax risk over cross-border transactions and investments, with a focus on hidden tax risk and saving opportunities in Hong Kong and Mainland China in 3 different areas. Through case studies, attendees will gain insights into how businesses can reduce tax-related costs and better evaluate the potential impact from regulatory changes. 

(A) BEPS2.0 and increasing tax transparency

With the implementation of BEPS2.0, aggressive Tax avoidance scheme is no longer promoted. Foreign-Sourced Income Exemption is just the beginning of Hong Kong Tax Reform. Meanwhile, increasing tax transparency among tax authorities (especially those between Hong Kong and Mainland China) will no longer render traditional tax avoidance scheme. 

(B) Mainland China - Tax compliance comes hands in hands with Money flow 

Local authorities in the Mainland have been exerting its efforts to combat illegal money transfer across the border recently. Bank accounts are closed due to suspicious money flow. Businessmen should now turn to the proper ways for profit remittance, starting from corporate structure to ways to reduce China withholding tax in various cross-border transactions.

(C) Hong Kong - Promoting Pillar Industry

In order to promote pillar industry in Hong Kong, the IRD has provided tax concessions to various industries in Hong Kong as listed below in recent years by reducing the tax rates to 8.25% or even 0%:

1. Ship / Aircraft Lessor and Ship / Aircraft Leasing Manager
2. Ship agents, ship managers, and ship brokers
3. Corporate Treasury Centre
4. Single Family Office Tax Concession
5. Carried interest / performance fee on qualifying fund, etc.
   

This is the physical session and physical attendance is required for CPD counting purpose. If you wish to join online, please click HERE for the online session.

Remarks on this Physical Session:

• Physical seats are limited and shall be taken on first-come first served basis. Registration will be closed on 16 September 2023 at 5.00pm.
• Once enrolment in the physical session is confirmed by the Institute, requests to change to online session will not be entertained.
• Physical attendance is subject to the weather condition at the time of the seminar. The Institute reserves the right to convert enrolment in the physical session into online session.

Level: Intermediate

Speaker's bio:
Mr Henry Kwong

Seat guarantee will only be given to HKCGI Fellows and/or Practitioner’s Endorsement (PE) holders if registered 10 clear working days with payment prior to the date of the seminar.