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In 1965, Section 16B of the Inland Revenue Ordinance was enacted to allow expenditure incurred for scientific research to be treated as a deductible expense. In 2004, the scope of the deduction was extended to include expenditure incurred on "research and development" ("R&D"). To encourage more enterprises to conduct R&D activities in Hong Kong, Inland Revenue (Amendment) (No. 7) Ordinance 2018 was enacted on 2 November 2018 to provide enhanced tax deduction for R&D-related expenditure. DIPN No. 55 was subsequently issued by the Inland Revenue Department ("IRD") in April 2019 providing detailed explanation and guidance on the normal or enhanced tax deductions for R&D expenditure. What would be the profits tax and tax audit implications on the enhanced tax deductions for R&D expenditure? Would this change of enhanced tax deductions for R&D expenditure bring more controversies or settlement of tax issues?

The purpose of this seminar is to provide insights on the latest tax deductions for R&D expenditure in Hong Kong and corresponding tax implications.

Content outline

1.    Changes in tax deductions for R&D expenditure
2.   Overview of the new law - Inland Revenue (Amendment) (No. 7) Ordinance 2018 on tax deductions for R&D expenditure including the meaning of "Type A expenditure" and "Type B expenditure"
3.   IRD's view and practice on tax deductions for R&D expenditure under the new law

Speaker(s) Wilson Cheng, Partner, Hong Kong Business Tax Services / Tax Controversy Services, EY

Wilson is a Tax Partner in Hong Kong, with 20 years of Hong Kong corporate tax and transaction tax experience. He provides tax advisory and compliance services to conglomerates, listed companies as well as US and European-based multinational corporations.
Language English
Date and Time 2019/11/04 12:30 to 14:00
Venue Chamber Theatre, 22/F United Centre
Media Closed to media
Enquiries Karen Au
Tel: 28231200
Email: karen@chamber.org.hk
Fee Members @ HK$190 / Non-Members @ HK$400
+$50 for booking offline
This event accepts Chamber Coupon (terms and conditions)
Members enjoy 30% discount with BOC HKGCC VISA Card
Notes - Bookings are only confirmed upon receipt of payment, on a first come first served basis.
- Booking transfer is allowed for corporate members with advanced notice, walk-ins are normally not accepted.
- The Chamber reserves the right to decline any booking or cancel the event. In such case, a full refund of the participation fee will be issued.
- No refund will be made for last minute cancellations or no-shows. If the booking is cancelled at least 3 days before the event, and in such cases the refund will be subjected to a 10% administration fee, or HK$100 deduction, whichever is higher.
- Members paying with their BOC HKGCC Visa Card will enjoy a 30% discount on their reservation. The discount is only applicable to the card holder, and does not extend to their guests. The discount cannot be used in conjunction with Chamber Coupons.
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- Priority is given to corporate members. The decision to accept or decline any booking shall be at sole discretion of the Chamber.