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20221129 Updates on draft amendment bill on Hong Kong’s refined foreign-sourced income exemption (“FSIE”) regime

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Programme Code:
20221129
Date:
29 November 2022 (Tuesday)
Time:
6:30 pm - 7:30 pm
Speakers:

Ms. Ada Ma, Partner, Business Tax Services, EY

Ms Ka Yan Pau, Director, Business Tax Services, EY

Language:
Cantonese
Venue:
Live webinar
Proficiency Level:
Intermediate Level
Fee:
$100 – $150
CPD Hours:
1
Seat:
100
Event Categories:
,
Application Form:
20221129 enrollment form

Description

The Hong Kong SAR Government launched a consultation on a proposal in June 2022 to refine Hong Kong’s FSIE regime for passive income in response to the European Union’s concern over potential double non taxation arising from tax exemption for offshore passive income in Hong Kong. The draft amendment bill will be gazetted around early November which will be tabled at the Legislative Council for readings before the end of this year.

The purpose of this seminar is to provide an overview of the FSIE regime as detailed in the draft amendment bill. We will also discuss the possible impacts and how taxpayers should get ready for the enactment from 1 January 2023 onwards.

Content outline

1. Overview of the FSIE regime amendment bill

2. Highlights of the updates introduced in the amendment bill

3. Possible impacts of the refined FSIE regime on the covered taxpayers

4. Suggested actions and next step to be taken by the covered taxpayers

Speaker Profile

Ms. Ada Ma, Partner, Business Tax Services, EY

Ada is the Partner in the tax services practice, focusing on business tax services, based in Hong Kong.  She provides Hong Kong and Australia tax compliance and advisory services to multinational, local corporations and entrepreneurial as well as non-profit organization.  Ada is also leading the Global Incentives and Location Services in Greater China.  She assists clients in site selection and identify the business incentives to help select optimal locations, secure and realize maximum savings for both tax and non-tax incentives, create operational efficiencies that reduce project costs associated with employment growth and capital expenditures.  Ada has extensive experience in principal and global structuring planning, Certificate of Residency status application, trust and family office advice, IPO review, inbound and outbound investments, supply chain management, business integration and reorganization, operation review, offshore claim exercise and intellectual property licensing and planning.  Ada contributes tax technical articles to newspapers and technical journals as well as a frequent speaker at tax seminars organized by various professional bodies in Hong Kong.

Ms Ka Yan Pau, Director, Business Tax Services, EY

Ka Yan Pau is a Tax Director of EY in Hong Kong focusing on tax and business advisory services with more than 10 years of professional experiences. She has wide range of tax experiences include tax compliance, group restructuring, implementation of tax effective strategies, cross border transaction, and other tax planning related advisory services. With 2 years of secondment experience in EY Moscow office, she is dedicated in assisting Chinese clients’ outbound investments into Russia / CIS region under the “Belt and Road Initiative”. She also has diverse industry experience, including infrastructure & construction, real estate, TMT, retail and consumer products, etc. Her client base includes China SOEs & POEs, US & European based MNCs as well as Hong Kong listed groups.

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