To promote tax transparency and combat tax evasion, Hong Kong indicated its commitment to implement certain measures by the Organization for Economic Co-operation and Development (“OECD”) to counter base erosion and profit shifting (“BEPS”) of enterprises. At the same time, Hong Kong would continue to combat tax evasion and avoidance by conducting field audit and investigation.
The purpose of this seminar is to provide insights on the approach adopted by the Hong Kong Inland Revenue Department (“IRD”) in the tax audit cases and the tips in handling tax audit cases conducted by the IRD. We will further provide an update on BEPS and discuss how transfer pricing could be leveraged in a tax audit settlement. The key topics will include:
- Selection criteria of tax audit target
- Process of the tax audit in Hong Kong
- Tips in handling tax audit conducted by the IRD
- Brief BEPS updates - Hong Kong Consultation Paper to counter BEPS
- Impact of BEPS on companies – challenges & opportunities
- Case sharing