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Digital technology has undeniably transformed the commercial landscape. In addition to online sales of physical goods and services, in-game virtual items like loot boxes can also be sold through microtransactions. On the other hand, KOLs (Key Opinion Leaders) can capitalize on their influence and derive income from different social media. Businesses can also access markets across borders without establishing a physical presence. These new creations of the digital economy have brought new issues of disputes between taxpayers and the Hong Kong Inland Revenue Department ("IRD"), and require novel approaches to handle.

Meanwhile, the OECD has recently released the "Statement on a Two-Pillar Solution to Address the Tax Challenges Arising From the Digitalisation of the Economy" summarizing the key components of Pillar One and Pillar Two of the Base Erosion and Profit Shifting ("BEPS") 2.0 Project on 1 July 2021. The Statement indicates that a detailed implementation plan will be finalised by October 2021 and come into effect in 2023. It is expected that the Hong Kong government will consider the most appropriate response measures required to maintain the competitiveness of Hong Kong.

In this upcoming webinar, the speakers will share with you the IRD's latest practice in handling the tax disputes arising from digital transactions, and their observations the latest global development for taxing the digital economy as well as its potential impact on Hong Kong tax system.

Highlights of the webinar include:

•   Recap of Hong Kong tax rules governing e-commerce business
•   New issues of tax disputes arising from digital economy
•   Outline of global tax development in digital economy
•   Potential impact of BEPS 2.0 on Hong Kong tax system
•   Illustrative examples
•   Real-time Q&A session

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 2:45pm) 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)

Mr. Philip Hung, Director, Tax Controversy Services, PwC Hong Kong

Philip is a Director in PricewaterhouseCoopers Ltd. He has over 35 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. Philip 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 SME, listed companies and various MNC, involving complicated cases such as worldwide onshore/offshore claim, disputes on contracting processing and import processing arrangements, transfer pricing adjustments, etc.

Philip is a regular speaker on tax audit and frequently contributes newspaper and magazines articles on the related topics.

Mr. Felix Tsang, Senior Manager, Tax Controversy Services, PwC Hong Kong

Felix has over 15 years of experience in resolving tax audits, tax investigation and other tax disputes for multinational corporations and local SMEs in different industries including manufacturing, services, fund management and charitable institutions, involving a diverse range of issues such as offshore claims, cross-border transactions, contract / import processing arrangements, anti-avoidance, transfer pricing, tax exemption claims and Board of Review proceedings. 

With insights in tax dispute resolution, Felix also has comprehensive experience in providing practical tax and business advice from a dispute prevention angle, including tax health check, defence file building, post-audit restructuring, tax due diligence, fee structure for fund management, and charity set up.

Language English
Date and Time 2022/02/08 15:00 to 16:30
Venue Online Via Zoom
Media Closed to media
Enquiries Karen Au
Tel: 28231200
Email: karen@chamber.org.hk
Fee
  • HK$ 100 for Members / HK$ 200 for Non-Members (online via Zoom)
+$50 for booking offline
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.
- The registration fee is non-refundable for this event.
- A $50 handling fee per person will be charged for all offline bookings (e.g. fax, e-mail, post) for all Chamber events. Go online today by downloading our app or registering on the HKGCC website to save the environment and money.
- Priority is given to corporate members. The decision to accept or decline any booking shall be at sole discretion of the Chamber.

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