Hong Kong as a Family Office Hub: What to know about the incoming tax regime for Family-owned Investment Holding Vehicles
At a seminar on 7 February, Christine Ho, Deputy Global Head of Family Office at Invest Hong Kong, and Alice Leung, Tax Partner at KPMG, provided insights on the proposed tax regime for Family-owned Investment Holding Vehicles. While Alice detailed on the practicalities of the Bill such as relevant specified conditions and exemptions, Christine elaborated on how family offices could benefit from such a Bill and shared her observations on the upcoming trends in family office investments.
2023/02/07
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Hong Kong’s Connected Future Series: PropTech and Urban Regeneration
The application of proptech in urban regeneration is gaining momentum as the property industry relies increasingly on technology to complete projects in a safe, eco-friendly and efficient manner.
At a webinar on 14 April, Alan Yau, Head of Real Estate at KPMG; Andrew Young, Associate Director (Innovation) at Sino Group; Tiffany Lau, Head of Urban Ecosystems at JLL; Elizabeth Ball, SVP North Asia at Essensys; and Bowie Ma, Director of Innovation and New Products at theDesk, spoke on the popularisation of proptech in urban regeneration and community building projects, as well as associated business opportunities.
2022/04/14
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Decoding BEPS 2.0: What This Means for Hong Kong Businesses
Hong Kong is likely to amend its tax regime to align with the OECD’s proposals to ensure that large businesses pay a minimum level of tax of 15%, regardless of where they operate.
At a webinar on 1 September, Ivor Morris, Partner at KPMG, said that the proposals, commonly known as BEPS 2.0, would involve the imposition of a global minimum effective tax rate of at least 15% on groups with a turnover in excess of 750 million euros. He explained that there will be knock-on effects on domestic tax rules from such a global tax reform, as existing tax breaks and incentives in Hong Kong generally result in an effective tax rate for large businesses of below 15%. This means Hong Kong would no longer to be able compete as a low-tax jurisdiction and will have to work on improving its non-tax offerings if it is to remain attractive to international businesses.
2021/09/01
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Seizing Opportunities across the GBA & ASEAN for Supply Chain Success
Greater Bay Area
Hong Kong’s unique strengths in financial, legal and tax structures make the city a preferred place to carry out business between Mainland China and the world, especially through the Greater Bay Area, said Stephen Phillips, Director-General of Investment Promotion, Invest Hong Kong, at a Chamber webinar on 3 December. He was joined by Anson Bailey, Head of Technology, Media and Telecommunications, Hong Kong/ Head of Consumer & Retail, ASPAC for KPMG China, who discussed an InvestHK and KPMG report on the current state of the sourcing industry and the future of supply chains across China and the rest of Asia. The senior executives surveyed said that Hong Kong has no serious rival in the sourcing sector, due to the city’s pool of talent, deep expertise, long experience and location, on top of its general business advantages. Another key finding of the report was that ESG reporting and sustainability would be increasingly important for the sector going forward.
In the panel discussion that followed, two industry experts, Anne-Laure Descours, Chief Sourcing Officer, PUMA, and Minesh Pore, Co-founder and CEO, the BuyHive, provided industry perspectives on the impact of technology and innovation to the future of supply chains. They noted that industry players across the value chain will need to work together to navigate through this rapidly changing environment, including reskilling employees, as well as nurturing the next generation of professionals.
2020/12/03
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Gearing Up for the New Normal in Retail
The coronavirus outbreak has not only given rise to unprecedented challenges for the retail industry, it is also likely to have a lasting impact on consumer habits. Retailers must therefore adapt to such an environment if they are to survive and thrive.
At a Chamber webinar on 28 April, Anson Bailey, Head of Consumer & Retail, ASPAC of KPMG China, discussed changes in consumer behavior, which are increasingly being driven by technology as well as an emphasis on safety and convenience. He was joined by two colleagues from KPMG -- Leonie Marshall, Associate Director, People & Change, and Adam Stuckert, Partner, Advisory -- who spoke on the importance of adopting the right IT and talent management strategies to remain competitive in a substantially different operating landscape.
The webinar also included a thought-provoking discussion by two retail veterans. Whelan Leung, Founder & CEO of Protrek Hong Kong and Thibault Villet, President & CEO of Revlon Asia, shared their companies’ experiences in anticipating and adjusting to an evolving marketplace.
2020/04/28
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