HK Tax Developments - Risks and Opportunities for Chinese FS Groups Operating in HK in 2022

10:15 – 11:30, 30 March 2022

10:15 – 11:30, 30 March 2022

financial graphs

The evolving international tax landscape and the ever changing business environment present significant risks and opportunities for the Hong Kong operations of Chinese headquartered financial services organisations.  

In this webinar, we will provide an overview of some key tax related issues for the Hong Kong operations of Chinese headquartered financial services organisations. We will use this session to provide you with our views and some practical considerations on the next steps.

  • Transfer Pricing and BEPS2.0
    Transfer pricing and BEPS2.0 are hot topics drawing the focus of multinational enterprises including banks and insurance companies. We will share with you the latest developments on transfer pricing and BEPS2.0 in Hong Kong, and key considerations for the Hong Kong operations of Chinese headquartered financial services organisations. In addition, we will also discuss the permanent establishment risks associated with agile / mobile / dislocated employees.
  • Recent FATCA / CRS developments
    With the continuous development of FATCA / CRS with an aim to reduce tax evasion through increasing transparency, financial institutions are faced with additional identification and reporting responsibilities. We will share with you what we have seen in the market in relation to the relevant compliance in Hong Kong and also the common issues faced by financial institutions here.
  • Foreign withholding tax
    Amendments have been made to the Inland Revenue Ordinance in relation to the deductibility of foreign tax which have been effective from the year of assessment 2021/22. We will share with you the latest position taken by the IRD on the deduction of foreign tax and some of the practical difficulties / challenges encountered where banks and insurers claim credits or deductions for foreign withholding tax.
  • Enhanced deductions for research and development expenses
    Enhanced deductions for qualified research and development expenses were introduced in 2018 to encourage more enterprises to conduct research and development activities in Hong Kong. We will share with you case studies on the enhanced deductions claim, and the applicability of the enhanced deductions to the financial services industry.

Should you have any queries, please contact Cani Ho at +852 2685 7699.

informative image