The OECD/G20 Inclusive Framework on BEPS recently released the Global Anti-Base Erosion (GloBE) Rules as part of a ground breaking plan, agreed to by nearly 140 jurisdictions, a two-pillar solution to address the tax challenges arising from digitalisation of the economy.
Multinational enterprises (MNEs) in Hong Kong SAR, across sectors, are likely to be impacted, particularly by the global minimum effective tax rate of at least 15% under the GloBE Rules.
Implementing GloBE Rules could also impact the domestic tax system in Hong Kong SAR covering a range of income exclusions, exemptions, tax incentives, deductions and a potential domestic minimum tax, increasing the overall effective tax rate for MNEs in Hong Kong.
During this webinar, our speakers will provide both technical and practical guidance covering:
- Latest BEPS 2.0 developments, focusing on updated guidance on Pillar Two (global minimum tax);
- Practical examples and walkthrough calculations based on recently released commentary and guidance;
- Expected impact on existing tax positions, incentives or taxes paid in Hong Kong;
- Implementation steps and anticipated timeline;
- Key actions taxpayers should take in preparation of the new rules.
JACK FERNANDES, Director of Transfer Pricing, BDO
Jack Fernandes is a director and leads BDO's Transfer Pricing (TP) Services team in Hong Kong.
He has more than 18 years of tax and TP experience having worked in Hong Kong, Taiwan, India, Israel and the US.
Jack's clients in Hong Kong and across APAC include large multinationals, regional and locally based groups, and startups (including fintechs, crypto firms, online marketplaces and other platform based businesses).
Jack advises on a full range of international tax and TP issues covering planning, risk assessment, implementation and controversy. He has in-depth experience in IP planning (including cost contribution arrangements); booking models for global trading; funding structures (covering intra-group loans, cash pooling, risk transfers and set up of corporate treasury centres); and intra-group services.
Prior to joining BDO, Jack was at an international accounting firm in Hong Kong where he specialised in financial services.
- Member of the Taxation Faculty Executive Committee, Hong Kong Institute of Certified Public Accountants
- Masters of Science in Global Finance (HKUST/NYU Stern)
- Bachelors of Commerce (St Joseph's College of Commerce - Bangalore, India)
ABIGAIL LI, Director of Tax, BDO
Abigail Li is a Tax Director based in Hong Kong.
Abigail has extensive experience in Hong Kong and international tax and in a wide range of industries including asset management and financial services, corporate treasury, commodities, shipping, industrial and consumer products. Her clients have ranged from well-established large multinational companies (MNCs) to start-ups or new economy companies.
Abigail is experienced in advising on sophisticated technical tax issues in Hong Kong, and also in respect of cross border transactions involving Hong Kong including tax planning, group structuring, M&A and cross border financial products or transactions.
Abigail is also experienced in assisting clients in various applications with the Hong Kong Inland Revenue Department and Stamp Office including application for advance ruling, certificate of tax residency and stamp duty relief.
Abigail has in-house experience as an Asia Pacific tax manager in a US listed Fortune 500 MNC, resolving local and regional tax issues from operations, treasury, etc.
Abigail's recent projects include structuring tax advice in respect of fund formation and asset management group, tax due diligence for M&A, legal entity rationalisation, financial assets sale and purchase, securitisation, aircraft and ship leasing, etc. She is also a contributor of tax articles for tax journals and publications.
Qualifications and professional affiliations
- Fellow of the Association of Chartered Certified Accountants (ACCA)
- Member of ACCA Tax Subcommittee
This event will incorporate slides which you can view on a PC and audio broadcast technology which requires only the speakers in your device. Therefore, on the day, please ensure the audio volume of your device is turned up. You are recommended to log in the webinar (which will be provided by email after your successful registration) a few minutes before the webinar starts to make sure you have no problem with the connection.
Details are as follows:
||Wednesday, 6 April 2022
||15:00 – 16:30
||Free of charge
||1.5 hours (*The recognition of CPD hours by your professional organisations is subject to their CPD policies.)
||1. For any enquiries, please contact contact Ida Cheung at +852 2218 3714 or [email protected]
||2. Login information will be sent to you by email after successful registration.
||3. BDO reserves the final right of acceptance of registration.