Highlights

Digital technology has revolutionised the commercial landscape.  The rise of digital economy has forced tax policy makers around the world to rethink what measures should be taken to address such significant change. 

In October 2020, the Organisation for Economic Co-operation and Development (OECD) has finally released “Blueprints” on Pillar 1 and Pillar 2 of the Base Erosion and Profit Shifting (BEPS) 2.0 Project, highlighting how digitalisation has posed challenges to the international corporate tax system.  Through public consultation, OECD aims to reach a successful consensus by mid-2021.  The Hong Kong Government has also appointed an Advisory Panel to review the potential impacts of BEPS 2.0 on Hong Kong tax system and to advise the Government on strategies and measures proactively.  We may see a new set of international rules over the taxing rights and minimum tax rate to be put in place to regulate the e-commerce business over the globe.

In this upcoming webinar, the speakers will further share with you our observations on the latest global development for taxing the digital economy, its potential impact on Hong Kong tax system, and the Hong Kong Inland Revenue Department’s latest practice in handling the tax disputes arising from digital transactions.

Highlights of the webinar include:

·    Outline of global tax development in digital economy

·    Recap of Hong Kong tax rules governing e-commerce business

·    Overview of current development in Pillar 1 and Pillar 2 under BEPS 2.0

·    Potential impact of BEPS 2.0 on Hong Kong tax system

·    Illustrative examples

·    ​​Real-time Q&A session

Speaker(s)

Mr. 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 fund managers, SME, listed companies, various MNC and charitable institutions,. He assisted in handling complicated cases such as the IRD’s review on worldwide onshore/offshore claim, disputes on contracting processing and import processing arrangements, offshore claim for Macao Offshore Company, IRD prosecution case, transfer pricing adjustments and charity exemption claims.

Mr. 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, fund management and charitable institutions, involving a diverse range of issues such as cross-border transactions, offshore claims, anti-avoidance, transfer pricing and charity tax exemption. Felix is also involved in various taxation and business advisory projects including tax health check, defence file building, corporate structuring, mergers and acquisitions.

Ms. Candice MAK - Manager, Tax Controversy Services, PwC

Candice is a manager in the Hong Kong Tax Controversy Services group of PwC Hong Kong with over 8 years of experience in both the professional and public sectors.  Candice has experience working in both Unit 1 (Profits Tax) and Unit 2 (Salaries Tax) of the IRD and acquired in-depth and all-rounded knowledge about the IRD’s practices and procedures through the examinations and investigations of different tax files.  During her time at PwC, Candice has also extensive experience in providing tax compliance and business consulting services to local, regional, multi-national and listed companies, including offshore claims, applications for tax treaty benefits, and tax planning work for cross-border transactions and group restructuring.