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20220412 IRD’s on Reviews on Charitable Organisations – Latest Development

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Programme Code:
20220412
Date:
12 April 2022 (Tuesday)
Time:
6:30 pm - 8:00 pm
Speakers:

Mr Philip Hung, Director, Tax Controversy Services, PwC

Mr Felix Tsang, Senior Manager, Tax Controversy Services, PwC

Language:
Cantonese
Venue:
Live webinar
Proficiency Level:
Intermediate Level
Fee:
$150 – $200
CPD Hours:
1.5
Seat:
300
Event Categories:
,
Application Form:
20220412 enrollment form

Description

The Inland Revenue Department’s (“IRD”) has continued to step up its efforts in reviewing charitable organisations’ tax exemption status and income generated. Different types of charities and different types of issues are coming under the spotlight by turns. However, many tax-exempt charities are not aware that some of their income is not automatically tax-exempt under Section 88 of the Inland Revenue Ordinance, and may overlook and their reporting and withholding obligations. Any non-compliance with tax obligations may result in penalties even for charities. The IRD is also updating its charity tax guide more frequently, with the latest version updated in September 2021.

In view of such trend, Mr. Philip Hung and Mr. Felix Tsang will share their experience with recent case studies in tackling tax problems for charities, including:-

  • Update on IRD’s latest focus of review on charities
  • Charities’ common misunderstanding about tax
  • Practical solutions for charities’ common tax issues reviewed by the IRD
  • Real life case sharing

Speaker Profile

Mr Philip Hung, Director, Tax Controversy Services, PwC

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

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, carried interest, 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.

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