With the Government’s deficit continuously increasing, it is expected that the Hong Kong Inland Revenue Department (IRD) will be more active in conducting tax audits. At the same time, the outbreak of COVID-19 continues to pose significant challenges for all businesses. Under such conditions, business leaders should be more vigilant in the day to day handling of their tax matters to avoid becoming the IRD’s next tax audit target.
In this webinar, the speakers will cover the latest developments in common areas triggering the IRD’s attention and 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:
• Highlight on the common areas and circumstances triggering a tax audit
• The difference between disputes in Profits tax and Tax audit
• Practical ways to avoid controversial tax disputes and how to speed up the resolution
• Real life case sharing
• Interactive Q&A session
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
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