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20210427 Charitable Organisations – An Update on the IRD’s Latest Reviews on Charities and Practical Solutions

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Programme Code:
20210427
Date:
27 April 2021 (Tuesday)
Time:
6:30 pm - 8:00 pm
Speakers:

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

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

Language:
Cantonese
Proficiency Level:
Intermediate Level
Fee:
$150 – $200
CPD Hours:
1.5
Seat:
300
Event Categories:
,
Application Form:
20210427 flyer

Description

The Inland Revenue Department’s (“IRD”) practice in reviewing charities’ tax exemption status continues to evolve. However, many tax exempt charities misunderstand that all their income is automatically tax-exempt under Section 88 of the Inland Revenue Ordinance, leaving them unprepared for the IRD’s reviews and getting penalised for non-compliance with requirements which they were not aware of.

In this webinar, the speakers will share their latest experience in assisting charities on resolving their tax problems, including:-

1.Update on charities’ common misunderstanding about tax

2.Practical solutions for charities’ common tax issues reviewed by the IRD

3.Filing obligations and penalties

4.Case sharing

5.Q&A

Speaker Profile

Philip has over 35 years’ experience in Hong Kong taxation with six years in the IRD. He is a well-known expert in the tax field and investigation specialty. After he left the IRD, Philip concentrated on 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 SMEs, listed companies and multinational corporations, involving complicated cases, such as worldwide onshore/offshore claims, disputes on contract processing and import processing arrangements, transfer pricing adjustments, etc. Philip is a regular speaker on tax audit matters and frequently contributes newspaper and magazines articles on related topics.

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 for charities and Board of Review proceedings. With insights in tax dispute resolution, Felix also has ample 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.