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Bracing for A Heightened Level of Tax Transparency
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Bracing for A Heightened Level of Tax Transparency

Recently, Hong Kong signed a standalone tax information exchange agreement (TIEA) with the United States. This is the first TIEA signed by Hong Kong after the legal framework for entering into TIEAs with other jurisdictions was put in place in July last year. The seminar will provide an update of these recent developments and their implications for taxpayers and businesses in Hong Kong.

22/07/2014
When: Tuesday, July 22, 2014
12:30 PM to 2:00 PM
Where: The Canadian Chamber of Commerce in Hong Kong
1301 Kinwick Centre
32 Hollywood Road
Central
Hong Kong
Contact: Amanda Ho


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About the Event:

Recently, Hong Kong signed a standalone tax information exchange agreement (TIEA) with the United States. This is the first TIEA signed by Hong Kong after the legal framework for entering into TIEAs with other jurisdictions was put in place in July last year.

Under the new legal framework introduced last year, the information gathering power of the Inland Revenue Department (IRD) of Hong Kong has been extended from information in the “possession” of a taxpayer, to information in the “control” of a taxpayer.The legislative amendment will not only apply to future TIEAs / tax treaties of Hong Kong, but also existing tax treaties, including the one concluded with Canada that takes effect this year.

Internationally, the trend for greater tax transparency continues to grow: Action Plan on Base Erosion and Profit Shifting, and the release of the Common Reporting Standard designated for the automatic exchange of financial account information are major initiatives of the Organization for Economic Co-operation and Development exerting pressure in this regard.

How will the signing of TIEA affect businesses in Hong Kong?In the context of the Hong Kong – Canada tax treaty,
how will the IRD exercise its extended information gathering power? Are there any additional record-keeping requirements as a result of the implementation of the new legal framework? How will the international developments affect Hong Kong?

The seminar will provide an update of these recent developments and their implications for taxpayers and businesses in Hong Kong.

Attendees of this seminar will receive a letter of attendance from the Canadian Chamber of Commerce in Hong Kong.

About the Speakers:
Ms Tracy Ho
Tax Managing Partner for
EY Hong Kong and Macau


Tracy has over 20 years of experience in providing tax consulting advice for multinational corporations with pan-Asian operations, on a range of matters, including inbound and outbound investments. Tracy has diverse industry experience, including hotels, media, marketing and distribution, real estate, retailing, telecommunications, textile and product manufacturing and trading.

Tracy has been voted as one of the Leading Tax Advisers in Hong Kong by the Legal Media Group’s Guide to the World’s Leading Tax Advisers in each edition since 2007. She regularly contributes articles and presents tax seminars on the latest tax developments and changes.
Miss Kathy Kun
Senior Manager, National Tax Centre of EY

Kathy has 10 years of experience in Hong Kong and cross-border taxation. In her technical role, she is responsible for developing and updating internal tax training materials, conducting internal tax trainings, as well as producing EY‘s tax publications. Kathy also provides technical and research support for client engagement teams of EY Hong Kong.She is a regular speaker at tax seminars and workshops.

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