|Tax webinar – Common Tax Challenges Faced by Charitable Organisations|
||Tax webinar (2 Dec 2020)|
The Inland Revenue Department (“IRD”) keeps stepping up its efforts in reviewing charitable organisations’ tax exemption status in Hong Kong, and its practice in doing so is fast developing. In particular, the IRD has revised the “Tax Guide for Charitable Institutions and Trusts of a Public Character” twice in September 2019 and again in April 2020, further elaborating its view on charities’ business profits, investments, property letting, reporting obligations, penalty for non-compliance, etc.
In view of such trend, what immediate actions should be taken by charitable organisations so as to strengthen their resilience to the latest practice? Which sensitive issues should they handle with extra care? In this webinar, the speakers will share their experience in handling the IRD’s reviews on charities, including:
- Legal principles for the granting and continuation of charities’ tax exemption
- Update on the latest Tax Guide for charities and its implications
- Are all income derived by charitable organisations exempted from tax?
- Charities’ common areas reviewed by the IRD and how to handle
- Interactive Q&A session
Mr Philip Hung Director, Tax Controversy Services, PwC Hong Kong
Philip has over 30 years’ experience in Hong Kong taxation with six years in IRD. He is a well-known expert in the tax field and investigation specialty. After he left the IRD, Philip concentrated in assisting clients in handling tax investigation and field audit cases. He 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 charitable institutions, fund managers, SME, listed companies and various MNC. He assisted in handling complicated cases such as the IRD’s review on major charitable institutions, offshore claims, disputes on contracting processing and import processing arrangements, IRD prosecution case and transfer pricing adjustments.
Mr Felix Tsang Senior Manager, Tax Controversy Services, PwC Hong Kong
Felix has over 15 years of experience in tax audits and tax dispute resolution for multinational corporations, fund management groups, local SMEs as well as charitable institutions. In particular, he assisted in resolving tax audit and review cases conducted by the IRD on major charities and their related parties. Other cases he handled involved a diverse range of issues such as offshore claims, cross-border transactions, transfer pricing and anti-avoidance. Felix also has extensive experience on tax advisory projects including application for tax exemption for charities, tax health check, defence file building, post-tax-audit restructuring and tax due diligence.
Ms. Elizabeth Law
Chairman of SCAA Taxation Committee
||06:30 PM - 08:00 PM|