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20201218 FATCA and CRS – Refresher and Market Update

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Programme Code:
20201218
Date:
18 December 2020 (Friday)
Time:
6:30 pm - 8:00 pm
Speakers:

Ms Eva Chow, Partner, Hong Kong tax practice, KPMG

Mr Edward Choi, Associate Director, Risk Consulting, KPMG

Mr Kam Yan Sang, Principal Consultant, CTRisk Solution

Language:
Cantonese
Venue:
Live webinar
Proficiency Level:
Foundation Level
Fee:
$150 – $200
CPD Hours:
1.5
Seat:
80
Event Categories:
,
Application Form:
20201218 flyer

Description

Tax evasion remains one of the top enforcement priorities of tax authorities worldwide. Specifically, FATCA and CRS represent part of the global efforts to combat tax evasion through offshore financial accounts maintained with financial institutions.

Following the introduction of FATCA and CRS in Hong Kong in 2014 and 2017 respectively, financial institutions are required to put in place effective compliance framework and obtain information about tax residency status of their customers and report their information to corresponding tax authorities on an annual basis.

Since practitioners in financial institutions are not expected to advise customers on their FATCA and CRS classification status, tax professionals may face increasing demands from potential customers to advise them on their classification status for purpose of account opening with financial institutions.

The webinar aims to refresh your understanding of the requirements of FATCA and CRS and highlight their implications for financial institutions and tax professionals. In addition, the webinar will provide a market update of recent regulatory actions taken by tax authorities in several key financial jurisdictions to enforce the regimes and combat tax evasion.

Speaker Profile

Ms Eva Chow, Partner, Hong Kong tax practice, KPMG

Eva is a partner in KPMG’s Hong Kong tax practice. She has more than 15 years’ experience in Hong Kong and international tax. She has extensive experience in tax compliance and advisory services to clients in the financial services sector. She has been involved in cross-border investment structures and financing arrangements, including coordinating and advising on regional engagements.

Over the years Eva has advised various international and Chinese banks on business tax issues relevant to their operations in Hong Kong, including FATCA, CRS and QI. Eva has been involved in various FATCA engagements in Hong Kong and China, including the banking, asset management, insurance sectors. Eva has also led CRS projects for major financial institutions in Hong Kong and China including discussion with tax authorities. Eva has written articles for professional journals and is a frequent speaker on tax transparency for various business associations.

Mr Edward Choi, Associate Director, Risk Consulting, KPMG

Edward has up to 10 years of experience in audit and advisory with Big 4 firms. He provides compliance advisory services financial institutions and has been involved in a number of HKMA and SFC compliance review and advisory projects for private and retail banks, investment banks and asset managers.

He tailors operational solutions, reviews business requirements for technology projects and drafts policies, procedures and compliance programs, enabling his clients to comply with applicable regulatory requirements and focus on business growth. Particularly, he is the Subject Matter Expert in Foreign Account Tax Compliance Act (“FATCA”) and Common Reporting Standard (“CRS”) since the regulatory requirements came into play.

Mr Kam Yan Sang, Principal Consultant, CTRisk Solution

Mr Kam is working as Principal Consultant in CTRisk Solution, & as lecturer in HK Institute of Bankers after he has worked as Executive Director of ICBC Asia Ltd.

From 2003 to 2016, he has been working in private wealth management field incl Standard Chartered Bank, ING Asia Private Bank for 6 years, Credit Agricole (Swiss), Bank of China International, ICBC Asia. In 1991~2003, he was working in capital market and Treasury incl Mitsubishi Trust & Banking, Societe Generale Asia, DKB Asia Ltd for 9 years.