Highlights

The peak season for commencement of the Inland Revenue Department's ("IRD") new tax aduit cases is approaching. Given the enormous budget deficit predicted by the Financial Secretary recently, the IRD is expected to take a more stringent approach in conducting tax aduits.

In view of the above and under the current economic environment, businesses should be particularly vigilant in the day to day handling of their tax matters to avoid becoming a tax audit target, and handle any tax audit with extra care if already being reviewed. 
 

In this webinar, the speakers will cover the latest developments on tax audit cases in Hong Kong. Highlights of the webinar include:

1. Latest common areas and circumstances triggering a tax audit
2. Overview of the tax audit process and points to note for each step
3. Tips for initial interview with the IRD – before, during and after
4. Practical ways to resolve controversial tax disputes including how to speed up the resolution
5. Interactive Q&A session

Speaker(s)

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 fund managers, SME, listed companies and various MNC. He assisted in handling complicated cases such as worldwide onshore/offshore claim, disputes on contracting processing and import processing arrangements, offshore claim for Macao Offshore Company, IRD prosecution case and transfer pricing adjustments

Mr Felix Tsang, Associate Director, Tax Controversy Services, PwC Hong Kong

Felix has over 15 years of experience in resolving tax audits, tax investigation and other tax disputes for multinational corporations and local SMEs in different industries including manufacturing, services, fund management and charitable institutions, involving a diverse range of issues such as offshore claims, cross-border transactions, contract / import processing arrangements, anti-avoidance, transfer pricing, tax exemption for charities and Board of Review proceedings. With insights in tax dispute resolution, Felix also has ample experience in providing practical tax and business advice from a dispute prevention angle, including tax health check, defence file building, post-audit restructuring, tax due diligence, fee structure for fund management, and charity set up.