Speaker(s)
Mr Henry Kwong, Senior Tax Advisor, ONC LawyersDescription
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%:
- Ship / Aircraft Lessor and Ship / Aircraft Leasing Manager
- Ship agents, ship managers, and ship brokers
- Corporate Treasury Centre
- Single Family Office Tax Concession
- Carried interest / performance fee on qualifying fund, etc.
This is the online session. If you wish to enrol in the physical session, please click HERE.
Remarks on this Online Session:
- Registration will be closed on 18 September 2023 at 5.00pm.
- Once enrolment in this online session is confirmed by the Institute, requests to change to physical session will not be entertained.
- Online session will be delivered via Zoom facility. The Institute has made every effort to ensure that the quality of the internet connection is sufficient for media streaming. Attendees should ensure that they are in an area of stable internet connection with suitable bandwidth as this can affect user’s experience.
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.