Highlights

The outbreak of COVID-19 continues to pose significant challenges for all businesses.  In addition we expect Inland Revenue Department (“IRD”) will take a more stringent approach in conducting Tax Audits, given the enormous deficit of the Government in the coming years.  Under such uncertain and rapidly changing conditions, business leaders should be more vigilant in the day to day handling of their tax matters, especially in Tax Audit.  

In this webinar, the speakers will cover the latest developments on tax audit cases in Hong Kong, provide insight on the approach recently adopted by the IRD in resolving tax audits.  In particular, the speaker will highlight the implications brought about by the change in the leadership within the IRD.

Highlights of the webinar include:

·           How would the current COVID-19 situation affect the handling of tax audits?

·           Recent changes in the IRD’s tax audit units

·           Latest common areas and circumstances triggering a tax audit

·           Practical ways to resolve controversial tax disputes including how to speed up the resolution.

·           Interactive Q&A session

Speaker(s)

Philip HUNG - Director, Tax Controversy Services, PwC

Philip has over 30 years' experience in Hong Kong taxation with six years in IRD. He is a well-known expert in the tax field and investigation specialty. After he left the IRD, Philip concentrated in assisting clients in handling tax investigation and field audit cases. He is the first to set up a specialized team to handle the IRD’s tax investigation and field audit cases for clients in the industry. His clients include charitable institutions, fund managers, SME, listed companies and various MNC. He assisted in handling complicated cases such as the IRD’s review on major charitable institutions, worldwide onshore/offshore claim, disputes on contracting processing and import processing arrangements, offshore claim for Macao Offshore Company, IRD prosecution case and transfer pricing adjustments.

Felix TSANG - Senior Manager, Tax Controversy Services, PwC

Felix is a senior manager in the Hong Kong Tax Controversy Services group of PwC Hong Kong. He has over 15 years of experience in handling tax audit and investigation cases for multinational as well as local clients in different industries including manufacturing, services and fund management, involving a diverse range of issues such as cross-border transactions, offshore claims, anti-avoidance and transfer pricing. Felix is also involved in various taxation and business advisory projects including tax health check, defence file building, corporate structuring, fund set up, mergers and acquisitions