A seminar was organised on 11 August on the likely impact the implementation of GloBE rules would have on Hong Kong-based property companies. Deloitte China's Vice Chair Patrick Yip and Tax Partner Doris Chik were on hand to explain the tax implications of the GloBE rules on Hong Kong's real estate sector and offered their views on measures to manage associated tax risks.
Tax authorities are increasingly turning their sights on e-commerce activities as evidence by the historic adoption of BEPS 2.0 last year. At a webinar on 17 March, PwC representatives Philip Hung, Felix Tsang and Flora Chan spoke extensively on the implications of such a global tax reform on Hong Kong’s digital economy and how businesses should cope.
Two separate developments in the global tax landscape -- the new two-pillar international corporate tax framework known as BEPS 2.0 and the inclusion of Hong Kong on the E.U.’s watchlist on tax cooperation -- will have an impact on Hong Kong and businesses that currently benefit from the city's low and simple corporate tax.
At a webinar on 18 January, Jesse Kavanagh and Cecilia Lee, respectively Tax & Business Advisory Services Partner and Transfer Pricing Partner from PwC Hong Kong, discussed how these developments could potentially affect the tax compliance and planning process for businesses. They also explained their impact on Hong Kong's operating environment as the SAR government was moving forward to implement BEPS 2.0 by such means as establishing an advisory panel and holding focus groups; and to amend corresponding legislation to address E.U.’s concerns by the end of 2022.