25 June 2024 - Annual Hong Kong Tax Update

Jun 25, 2024

Annual Hong Kong Tax Update

Over the past year, to comply with increasingly complex international tax standards, Hong Kong progressed in the domestic adoption of the two-pillar solution under Base Erosion and Profit Shifting (BEPS) 2.0 set out by the Organisation for Economic Co-operation and Development (OECD), and efforts in further refining its foreign-sourced income exemption (FSIE) regime successfully resulted in the city’s removal from the European Union watchlist. Meanwhile, the government continued to come up with measures to enhance the city’s competitiveness, through the introduction, refinement and proposal of various regimes such as the tax certainty enhancement scheme for onshore equity disposal gains, family office tax concession regime, aircraft leasing tax concession regime and the patent box regime.

Highlight of this webinar:

• Hong Kong’s proposed implementation of global minimum tax and Hong Kong minimum top-up tax
• Recap and updates on:
  • refined FSIE regime
  • tax certainty enhancement scheme
  • family office tax concession regime
  • aircraft leasing tax concession regime
• Update on patent box bill
• Other recent and anticipated tax developments in Hong Kong
• Certain international tax developments impacting Hong Kong businesses

Speakers:

Gwenda Ho, Senior Advisor, PwC

Gwenda Ho is a Past President of AWAHK and a Senior Advisor for PwC Hong Kong. Prior to her current role, she was a Tax 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 extensive experience in providing Hong Kong and international tax consulting and compliance services to local, regional and multinational clients, leading a number of tax due diligence, corporate restructuring, cross-border tax advisory, transfer pricing, tax investigations, IPO and blockchain / digital assets-related projects. She has been actively involved in providing comments on the latest tax policies and tax bills.

Candice Mak, Senior Manager, PwC

Candice is a Senior Tax Manager of PwC Hong Kong with more than 10 years of experience in both the professional and public sectors. At PwC, she has extensive experience in providing corporate tax compliance and business consulting services, including offshore claims, tax treaty benefits, tax planning for cross-border transactions and group restructuring, etc. Candice also served in the Hong Kong Inland Revenue Department (IRD), which has provided her with comprehensive knowledge of the IRD's practices and procedures. This diverse background equips her to effectively resolve clients' tax disputes with the IRD from multiple angles. Candice holds bachelor's degrees in both Professional Accountancy and LLB.