The Inland Revenue (Amendment) (Tax Concessions for Family-owned Investment Holding Vehicles) Ordinance 2023 (the Ordinance) was gazetted and came into operation on 19 May 2023. The Ordinance provides profits tax concessions for eligible Family-owned Investment Holding Vehicles (FIHVs) managed by eligible Single Family Offices (SFOs) in Hong Kong; and Family-owned Special Purpose Entities (FSPEs). Only the assessable profits of FIHVs and FSPEs arising from qualifying transactions and incidental transactions are eligible for profits tax concessions, which apply in respect of a year of assessment commencing on or after 1 April 2022.
The Inland Revenue Department (IRD) has provided some useful guidance in its website for taxpayers seeking to enjoy the tax concession. The IRD has also published Advance Ruling Case No. 73, the first ruling in respect of the new family office tax regime, for taxpayers’ reference.
In this seminar, the speakers will cover the following:
- Give a brief background on the development of family offices in Hong Kong
- Discuss the IRD guidance
- Explore the key issues in the Advance Ruling Case No. 73
- Share practical considerations involved in the above advance ruling application, and common issues in setting up family office structures
Programme Code:20240626
Date:26 June 2024 (Wednesday)
Time:6:30 pm – 8:00 pm
Language:Cantonese
Venue:ET 2101-2, 21/F, Edinburgh Tower The Landmark 15 Queen’s Road Central, Central Hong Kong
Speakers: Ms Sophia Chan, Partner, Tax Services, PwC Hong Kong & Ms Wise Lam, Partner, Private Clients and Family Office Services
CPD Hours:1.5
Seat:75
Click here to register!