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The Hong Kong government has unveiled an exciting new patent box tax concession that offers significant benefits for businesses investing in research and development (R&D) and generating valuable intellectual property (IP). Passed by the Legislative Council on June 26, 2024, this initiative provides a preferential tax rate of just 5% on qualifying IP income, including embedded revenue in the sales price of a product or service.

This represents a substantial reduction from the standard 16.5% corporate tax rate. Combined with enhanced deductions for qualifying R&D expenditures, the patent box tax incentive presents a compelling opportunity for companies to strengthen their innovation capabilities in Hong Kong.

Regardless of what industry you are in, this seminar will equip you with the insights needed to effectively leverage this incentive. It will cover:

-   Key features and eligibility criteria of the new patent box tax concession
-   Potential applications across diverse sectors, from manufacturing to pharmaceuticals and medical devices to financial services and beyond
-   Practical strategies and tips on capturing the benefits

Join us to understand the latest developments and explore ways to benefit from the patent box tax incentive, the Chamber has invited a number of tax experts from Deloitte China to share their insights and to gain a competitive edge in Hong Kong's evolving innovation landscape.

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)

Sarah Chan, Partner, Global Business Tax Services, Deloitte China

Sarah Chan is a Tax Partner of Deloitte China and has more than 25 years of tax and business advisory experience. She has more than 10 years of leadership role in Global Compliance and Reporting.

Sarah has extensive experience in advising multinational corporations on structuring transactions, business reorganization, operational re-modelling, cross-border financing and exploring investment options and exit plans. Her expertise also includes resolving contentious issues and disputes with local tax authorities and managing tax, financial and regulatory reporting of companies with multi-jurisdictions operations.

Sarah's main industry focuses are technology, consumer and industrial products, professional and financial services.

Victor Zhang, Partner, Transfer Pricing Services, Deloitte China

Victor Zhang is a Partner in Deloitte China transfer pricing team, with 18 years of experience.  He was with Deloitte Shanghai Transfer Pricing Group and Deloitte Chicago Global Strategy Group, and is now Deloitte Hong Kong Transfer Pricing Leader, and also Industrial Products and Construction Sector Tax Leader. 

Victor is a core member of Deloitte China business model optimization team, and has assisted MNCs/Chinese companies in designing the TP policies for profit alignment, effective tax rate and treasury management.  Over the recent years, he has been dedicated to lead the business model study and implementation for complex intercompany transactions with multiple jurisdictions and different tax implications.

In addition, he also has extensive experience in leading engagements of audit defense, and global documentation and country-by-country reporting for Mainland China and Hong Kong based MNCs.

He has published multiple technical articles in professional tax journals, and he is a frequent speaker in tax seminars.

Gavin Wai, Patent Attorney, Director, Global Business Tax Services, Deloitte China

Gavin Wai is a Director of Deloitte China based in Hong Kong office specializing in innovation tax incentives, in particular R&D and Patent Box tax regimes.  He has nearly a decade of experience helping companies successfully simplify and navigate the complexities around these regimes. 

Prior to joining Deloitte Hong Kong, Gavin was the Global Head of IP Operations for a FTSE 100 sustainable technologies company – and before that National IP / Technical Patent Box Lead for Deloitte UK in London, where he built up a reputation and successful track record of helping companies maximise the tax benefits obtained from these regimes.

Gavin's unique and broad academic background spans science, engineering and law, which allows him to fully understand the technical details of clients' R&D activities and intellectual property (IP).  He is therefore skilled in relaying this to Tax Inspectors, substantiating R&D and Patent Box claims and resolving enquiries with Tax Authorities.

Gavin holds a BSc in Biotechnology & Biochemistry from Imperial College London, an MSc in Biochemical Engineering from University College London (achieving academic excellence awards from both institutions, as well as a full scholarship from the latter) in addition to a Postgraduate Certificate in IP Law from Queen Mary, University of London.

Kenneth Lee, Counsel, Chan & Jamison LLP*
*An independent Hong Kong law firm and a member of the Deloitte Legal network

Kenneth's legal practice covers the span of core Deloitte Legal global service offerings, including Corporate/M&A, Contracting and People/Employment Law.

In particular, Kenneth has extensive experience in handling and advising on general commercial and corporate finance transactions, including public and private mergers and acquisitions, fundraising as well as general compliance matters. 

Prior to joining the firm Kong, Kenneth worked at the corporate and M&A groups of several global U.S. and U.K. headquartered law firms. He has also worked at the Listing Division of the Hong Kong Stock Exchange and at a U.S. private equity fund.

Kenneth is admitted to practice in New York, USA (2011) and Hong Kong (2017). He speaks English, Cantonese and Mandarin

Language Cantonese
Date and Time 2024/09/10 10:30 to 11:45
Venue Chamber Theatre, 22/F United Centre
Media Closed to media
Enquiries Karen Au
Tel: 28231200
Email: [email protected]
Fee Event Cancelled
Members @ HK$130 / Non-Members @ HK$260
+$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.
- 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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