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Are you prepared for the recent changes in the Inland Revenue Department (IRD)'s approach to assessing profits tax?

To align with legislative amendments, court decisions and changes in accounting standards, the IRD has revised its Departmental Interpretation and Practice Notes (DIPNs) on various matters such as the taxation of royalties and computation of assessable profits, among others. The rise of e-commerce and developments in international tax rules have also led to changes in the IRD's assessment of digital businesses. Given such substantive changes, it is important that businesses equip themselves with a better understanding of the implications these developments may have on their profits tax position.

We are therefore pleased to have invited Gwenda Ho and Ricky Chow, both Partners at PwC Hong Kong, to provide an overview of the following practice notes on profits tax and their insights on tax issues that may arise from the revisions.

●   DIPN No. 1 – Computing assessable profits, revenue recognition and measurement of inventories or stock

●   DIPN No. 22 – Taxation of royalties and other income from intellectual properties

●   DIPN No. 39 – Digital economy, electronic commerce and digital assets

●   DIPN No. 42 – Taxation on financial instruments and foreign exchange differences

●   DPIN No. 49 – Profits tax deduction of capital expenditure on patent rights, rights to know-how and specified intellectual property rights

Please refer to the following on the virtual seminar:
-   Upon successful registration of the event, a unique webinar link will be sent to your registered email 2 days before the event. Please refer to the troubleshooting guide here should you experience any issues in locating the webinar link.
-   Instructions on downloading Zoom and joining a webinar can be found here. We suggest that you familiarize yourself with the software in advance of the webinar.
-   Please log in 15 minutes (at 1:45 pm) before the event begins, through the link that will be sent to your registered email.

DISCLAIMER
Speakers' presentations at this event are intended for educational purposes only and do not replace independent professional judgment. Statements of fact and opinions expressed during this event are those of the speakers and participants and, unless expressly stated to the contrary, are not the opinion or position of the Hong Kong General Chamber of Commerce, its members, or its committees. The Chamber does not endorse or approve, and assumes no responsibility for, the content, accuracy or completeness of the information presented. Attendees should note that, with the approval of speakers, this event may be recorded, and possibly published on the Chamber's website in audio and/or video formats without further notice.

Recording, duplication or distribution of the contents of the online event is prohibited without prior written permission from the Chamber.

Speaker(s)

Ms Gwenda Ho, Partner, PwC Hong Kong

Gwenda Ho is a Partner of PwC Hong Kong's corporate tax practice, leading the technology, media and telecommunications sectors, with over 20 years of experience in providing Hong Kong and international tax consulting services to local, regional and multinational clients. She has been involved in providing comments on recent tax bills, and currently serves as a member of the Taxation Faculty Executive Committee of the Hong Kong Institute of Certified Public Accountants as well as the Immediate Past President of Association of Women Accountants (Hong Kong).

Mr Ricky Chow, Partner, PwC Hong Kong

Ricky Chow is a tax partner with PwC Hong Kong. Over the last 15 years, Ricky has been focusing on providing various kinds of Hong Kong and international tax consultation advice as well as involved in tax planning and tax structuring work for companies with cross-border transactions. He serves a wide range of clients including multi-national corporations and PRC enterprises mainly in the retail and consumer and industrial product industries. He is also a frequent public speaker and contributor of articles in tax journals.

Language English
Date and Time 2020/11/24 14:00 to 15:30
Venue Online via Zoom
Media Closed to media
Enquiries Karen Au
Tel: 28231200
Email: karen@chamber.org.hk
Fee Members @ HK$100 / Non-Members @ HK$200
+$50 for booking offline
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.
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