21 November 2023 Webinar - Biannual Hong Kong Tax Update

Nov 1, 2023

As anticipated in our Hong Kong Tax Update webinar in the first half of this year, the remainder of 2023 continues to be a busy time for the tax community in Hong Kong. Following consultation, the bills introducing changes to the Foreign-Sourced Income Exemption (FSIE) regime to bring in scope disposal gains of other assets and providing upfront certainty of non-taxation of onshore equity disposal gains are being published in October. Meanwhile, the HKSAR Government plans to introduce measures that aim to further consolidate Hong Kong’s position as a regional business and investment centre and to enhance the tax attractiveness of Hong Kong. These include the establishment of a mechanism to allow foreign companies to re-domicile to Hong Kong, and a patent box tax incentive regime.

Highlights of this Webinar

• Bill on further refinements to FSIE regime
• Bill on enhancing tax certainty of onshore gains on disposal of equity interests
• Consultation on the proposed company re-domiciliation regime
• Consultation on the proposed patent box tax incentive
• Updates on the Inland Revenue Department’s adjusted approach in issuing Certificate of Resident Status
• Other recent and anticipated tax developments in Hong Kong

Speakers:

Gwenda Ho, Tax Partner, PwC
Gwenda Ho is a Past President of AWHK and a Partner of PwC Hong Kong’s corporate tax practice, leading the National Tax Policy Services in Hong Kong as well as the technology, media and telecommunications sectors. She has over 25 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 blockchain / crypto-related projects. She currently serves as a member of the Taxation Faculty Executive Committee of HKICPA.

Vanessa Chan – Tax Partner, PwC
Vanessa Chan is a Partner of PwC Hong Kong’s financial services tax practice. She has over 20 years of tax experience and has deep knowledge about the financial service industry in Hong Kong, focusing on Hong Kong tax and international tax. Vanessa has extensive in-house tax experience and expertise in regional tax management in investment banks and commercial banks. Since returning to professional practice in 2016, she has assisted local, regional and multinational clients on various Hong Kong and international tax related activities and advising clients on the tax implications of financial transactions, commodity transactions, restructuring and fund set up, utilizing her extensive in-house practical experience and her technical tax knowledge in the financial service industry.