To promote tax transparency and combat tax evasion, Hong Kong indicated its commitment to implement certain measures by the Organization for Economic Co-operation and Development (“OECD”) to counter base erosion and profit shifting (“BEPS”) of enterprises. At the same time, Hong Kong would continue to combat tax evasion and avoidance by conducting field audit and investigation.
The purpose of this seminar is to provide insights on the approach adopted by the Hong Kong Inland Revenue Department (“IRD”) in the tax audit cases and the tips in handling tax audit cases conducted by the IRD. We will further provide an update on BEPS and discuss how transfer pricing could be leveraged in a tax audit settlement. The key topics will include:
– Selection criteria of tax audit target
– Process of the tax audit in Hong Kong
– Tips in handling tax audit conducted by the IRD
– Brief BEPS updates – Hong Kong Consultation Paper to counter BEPS
– Impact of BEPS on companies – challenges & opportunities
– Case sharing
About the Speakers:
Wilson Cheng, Partner, Hong Kong Business Tax Services / Tax Controversy Services, EY
Wilson is the Tax Controversy Leader in Hong Kong, with around 18 years of Hong Kong corporate tax advisory experiences. He provides wide spectrum of tax controversy services to conglomerates, listed companies as well as US and European-based multinational corporations. He has extensive experiences in dealing with Hong Kong tax authorities, for example assisting corporations in settling pro-longed tax disputes on contentious tax issues in Hong Kong. More recently, he advised his clients on new tax incentives scheme in Hong Kong and then assisted client to obtain an advance ruling from the Hong Kong tax authorities. His other tax experiences include group structure rationalization and restructuring, cross-border transaction planning and compliance, IPO review and restructuring.
Martin Richter, Partner, International Tax Services – Transfer Pricing, EY
Martin is the Partner in charge of EY’s transfer pricing practice in Hong Kong, advising clients in both Hong Kong and Mainland China. Martin is based in Hong Kong and has 17 years of transfer pricing experience, gained from Big 4 practices in London, Washington DC, and Hong Kong. Martin advises on a full range of different transfer pricing project types, including policy design and implementation, tax aligned restructurings, audit defense, advanced pricing agreements, as well as general compliance and documentation. He has deep experience in advising on a multitude of intercompany transaction types, including establishing and supporting unit prices for tangible goods; fees for services; royalties / licenses / franchises for intangibles; and financing costs for financial transactions.
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