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20240923 IP and R&D Tax Incentives in Hong Kong

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Programme Code:
20240923
Date:
23 九月 2024 (Monday)
Time:
6:30 pm - 7:30 pm
Speakers:

Mr. Desmond Wong, Partner, Tax Services, PwC Hong Kong

Ms. Cecelia Chong, Senior Manager, Tax Services, PwC Hong Kong

Ms. Dorothy Lee, Partner, Operations Excellence Solutions, PwC Hong Kong

Language:
Cantonese
Venue:
PwC Executive Conference Centre, 21/F Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Hong Kong
Proficiency Level:
Intermediate level
Fee:
$150 - $200
CPD Hours:
1
Seat:
75
Event Categories:
,
Application Form:
20240923 enrolment form

Description

Hong Kong currently offers research and development (R&D) tax incentives to businesses as a means to promote innovation and technological advancement. In addition this, Hong Kong has recently proposed to introduce a patent box regime, to encourage businesses to conduct more R&D and intellectual property (IP) trading activities in Hong Kong. This regime will provide tax concessions for profits derived from eligible IP assets through R&D activities in Hong Kong. The Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Ordinance 2024 was gazetted on 5 July 2024.

While the patent box regime presents opportunities for companies to enhance their R&D set up and IP presence in Hong Kong, it would also be a good time for companies to reassess their structures and strategy for utilising the tax regime and re-evaluating other tax and commercial considerations and options.

In this seminar, the speakers will discuss:

  1. Give a brief background on the development of the IP and R&D tax regimes in Hong Kong
  2. Discuss the details of the patent box tax regime
  3. Discuss the details of the enhanced tax deduction on R&D expenditures
  4. Discuss the details of the DLRI application and some popular R&D funding schemes in Hong Kong

Speaker Profile

Desmond joined PwC Hong Kong in 2007 and is a Partner of PwC Hong Kong’s corporate tax practice, leading Hong Kong corporate tax in the Technology, Media and Telecommunications (TMT) sector.

In 2012, Desmond was selected for a three-year secondment programme with PwC US, where he worked in the Los Angeles and Atlanta offices. His responsibilities included US tax accounting and international tax projects.

Desmond possesses extensive experience in providing Hong Kong and international tax services to multinational clients across various sectors, including TMT, Industrial/Consumer Products, Private Equity funds, as well as investment sectors. His involvement has spanned tax investigations, corporate restructuring, cross-border tax advisory projects, tax due diligence, tax and debt structuring, tax ruling applications, stamp duty, and IPO projects. He has also served as the regional tax coordinator for numerous PwC clients with a global presence.

In recent years, Desmond has provided tax advice and tax location studies to several promising startups, participating in business development activities organised by government agencies and quasi-governmental organisations. He has supported TMT enterprises in establishing or expanding their business presence in Hong Kong and international markets.

With the evolving corporate tax landscape, Desmond has engaged in transformational tax projects, advising the government and business sectors on Hong Kong’s electronic tax filing initiatives. He also contributed to the development of a digital tax platform for PwC internal and external use. He is now significantly involved in studying and acting as the central team on deployment for Harvey AI on tax, enhancing efficiency in delivering the client services.

Desmond is a frequent speaker on tax-related topics at seminars organised by PwC, business associations, and government bodies.

Desmond completed the PwC US Tax Immersion Programme, a fast-track course to the Master of Business Taxation co-organised by the University of Southern California. He also holds a Bachelor’s Degree on Finance and Economics from Macquarie University. Desmond currently serves as the Chairman of the Professional Standards Committee and is a Council Member of The Taxation Institute of Hong Kong. Additionally, he is a member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants.

Cecelia is a senior manager in the corporate tax services group in PwC HK. She has over 13 years of experience in providing corporate tax compliance and advisory services to multi-national groups as well as China and Hong Kong listed and private companies. Her client portfolio covers a wide range of industries including retail and consumer products, telecommunications, garment manufacturing and trading, logistics, investment / property holding, etc.

Cecelia actively has engaged with the startup community in recent years to provide assistance to startups with their business development. She has also been a speaker at tax seminars and workshops arranged by various different organisations.

Cecelia is a graduate of the Hong Kong Polytechnic University with Bachelor in Accountancy. She is a member of the HKICPA.

Dorothy Lee is a Partner of Operations Excellence Solutions at PwC Hong Kong who is passionate about transforming organisations and supply chain processes to maximise the company value proposition. She has extensive experience in managing, designing, training, facilitating and implementing solutions to achieve clients’ business strategies. ​

​Dorothy has over 20 years of experience in multi-national companies, specialising in strategic value stream transformation, business reengineering with technologies adoption, project management, Lean Six Sigma, innovation and change management facilitation. She has worked in multinational business and supply chain operations, and is responsible for improving operational projects and lean operations management consulting in the manufacturing and retail industries. The service industries include electronics, toy, jewellery, clothing, catering, and logistics.  She mentors projects in different countries such as Japan, Thailand, Malaysia, Bangladesh, Canada and China. Dorothy also has extensive experience in overall customer account management, Research and Development (R&D) project management and incentive scheme development, government funding application with R&D tax deduction, supply chain transformation, new product flawless launch and Objective and Key Results (OKR) setup.​

​Dorothy has a Master Degree in Engineering. She is a Certified Six Sigma Black Belt (CSSBB), a certified Project Management Professional (PMP), a Certified Professional Behavioural and Motivator Analyst, and a Certified ESG Analyst (CESGA). She is members of the Association for Coaching and Facilitation (ACF), Hong Kong Logistics Association (HKLA), American Society for Quality (ASQ), Institution of Engineering and Technology (MIET), and Institute of Electrical and Electronics Engineers (IEEE).