SCTP: Figuring Out FSIE in HK and Singapore

Recommended: Get updated and be clear on both foreign-sourced income exemption regimes

Date:

14 June 2023, Wednesday

Closing date: 7 June 2023, Wednesday or when spaces are filled

Registration

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Time:

10.00AM - 12.00PM

Tech check from 9.45am

Venue:

Online

CPE Hours (Income Tax):

2 hour(s)

CPE Hours (GST):

0 hour(s)

CPE Hours (Non-Tax):

0 hour(s)

Fees:

(W/GST): $41.04 (SCTP/ ISCA Member); $62.64 (Association Member); $91.80 (Non-Member)

Contact:

Contact Nabila (+(65) 6360 5969), Anna (+(65) 6360 5979) or enquiry@sctp.org.sg

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Programme Synopsis

In a landmark shift as a result of tackling double non-taxation risks while maintaining a simple, fair and transparent tax regime in Hong Kong, Hong Kong has refined its foreign-sourced income exemption (FSIE) regime, effective from 1 January 2023.

In it, Hong Kong will deem taxable certain types of income, including interest, dividends, capital gains and royalties when received in Hong Kong if certain requirements could not be met.

How does the proposed compare with Singapore’s own FSIE regime, introduced about two decades ago? Join Accredited Tax Advisor (Income Tax) Mr Loh Eng Kiat, Business Tax Partner and Deloitte Southeast Asia’s Sports Business Tax Leader, and Mr Chung Yiu Hong, Tax Director, International and M&A Tax Services at Deloitte Hong Kong, as they dissect the recent developments and highlight notable pointers for businesses to be aware of.

Programme Outline

Be aware of what Hong Kong's Foreign-sourced Income Exemption Regime entails
Understand the inter-linked topics of what income may be taxed, what routes remain to keep income “Offshore”, application and the exemptions
Comprehend how these changes compare with Singapore’s FSIE regime
Join in the discussion on what these developments mean for businesses

About the Facilitator(s)

Mr Loh Eng Kiat
Tax Partner
Deloitte
Accredited Tax Advisor (Income Tax)

Leveraging his practical and holistic experiences (over 20 years) across a variety of tax service offerings spanning direct and indirect tax elements, inbound and outbound situations as well as consulting, controversy and compliance services, Eng Kiat is well-recognised in the Singapore tax market having also been published extensively and uniquely on a bilingual basis, predominantly on Singapore’s mainstream media platforms.

Appointed by the Accounting and Corporate Regulatory Authority (ACRA) as part of the committee to help develop the Singapore Chartered Accountant (CA) Qualification into a globally recognised qualification, Eng Kiat provides strategic guidance and recommendations to the ACRA Board to advance the accountancy profession.

Mr Chung Yiu Hong
Tax Director, International and M&A Tax Services
Deloitte Hong Kong

As the International Tax Director with a focus on M&A Tax Services at Deloitte Hong Kong, Hong brings with him over 15 years of tax experience spanning Hong Kong, China and the United States.

With his wealth of experience managing international tax affairs, tax advisory, tax controversy, transfer pricing, M&A taxation and transaction advisory, Hong is well-versed in advising large corporations on international taxation.

With his overall experience in international consultancy, Hong is well positioned to advise large corporates across their international networks.

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