The webinar is one of the events of ACCA Hong Kong Tax Updates Series 2023. A bundle package price will be offered to participants enrolling the whole series with four webinars in total.

About the Event

The Organisation for Economic Co-operation and Development (OECD) Inclusive Framework has adopted a two-pillar solution to address challenges arising from the digitalization of the economy. Pillar Two introduces a global minimum Effective Tax Rate (ETR) for multinational groups with consolidated revenue over €750m. Hong Kong has already announced the implementation of GloBE rules and Domestic Top-up Tax of 15% in 2025. As the implementation of Pillar Two draws closer, it's crucial to understand how the Pillar Two rules work and their impacts as immediate actions could be required to prepare group structures, internal systems, and in-house finance and tax teams for this upcoming tax challenge.

Gain on disposal of non-portfolio equity interest is excluded income under Pillar Two and if the gain is subject to tax locally, it would be additional tax burden to the group. Although onshore disposal gain on capital account is not subject to tax in Hong Kong, there are often uncertainties in the determination of whether a gain is revenue or capital in nature. To provide greater upfront certainty of non-taxation to taxpayers, Hong Kong will be introducing a Tax Certainty Enhancement Scheme under which if an onshore equity disposal gains can satisfy a set of clear and objective eligibility criteria, it would be regarded as non-taxable. For certainty on their onshore disposal gain, businesses should ensure their capital investment could satisfy the eligibility criteria under the Tax Certainty Enhancement Scheme.

In this webinar, the speakers will introduce the key policies and latest developments in Pillar Two in Hong Kong and the Tax Certainty Enhancement Scheme, share their potential impacts and issues through case studies, and provide guidance on how enterprises can prepare for these upcoming tax changes.

The webinar covers the following:

  1. Overview of the Pillar Two rules and the Tax Certainty Enhancement Scheme and their latest development in Hong Kong
  2. Common issues and implications of the new tax development with real case sharing
  3. Suggested roadmap plan for preparation of the implementation of Pillar Two and the Tax Certainty Enhancement Scheme

Speakers:

  • Flora Chan, Partner, Tax Services, PwC Hong Kong
  • Ivan Lam, Director, Tax Services, PwC Hong Kong
  • Emily Chu, Senior Consultant, Tax Services, PwC Hong Kong

Language: Cantonese

Important notes:

  1. This on-demand webinar is broadcasted via ON24 and available until 30 June 2024.
  2. Each enrolee will receive an email confirmation including the webinar access link and password after successful registration.
  3. Enrolee’s own attendance record can be downloaded in the webcast platform after attending the webinar.