Empowering Innovation: Hong Kong’s Patent Box Tax Concession [Virtual]

Event Details

The Hong Kong government has introduced an exciting new patent box tax concession, aimed at fostering research and development (R&D) activities and becoming intellectual property (IP) trading hub for the city. Passed by the Legislative Council on June 26, 2024, this significant initiative offers a preferential tax rate of just 5% on qualifying income from IPs, including embedded income in the sales price of a product or service.

This represents a substantial reduction from the standard corporate tax rate of 16.5%. Combined with enhanced deductions for qualifying R&D expenditures, the patent box tax concession presents a compelling opportunity for businesses to invest in R&D, generate valuable IPs, and reap the economic benefits in Hong Kong.

Join our expert panel from Deloitte China as they discuss:

- Overview of the new patent box tax concession

- Potential applications across industries, from manufacturing to pharmaceuticals and medical devices to financial services and beyond

- Practical tips and strategies to leverage this concession and explore new opportunities

Regardless of what industry you are in, this webinar will equip you with the insights to innovate and thrive through the patent box tax incentive.

Speakers

Sarah Chan

Partner, Global Business Tax Services at Deloitte China

Yiu Hong Chung

Tax Director, International Tax and M&A Services of Deloitte China

Season Guo

Senior Tax Manager, Transfer Pricing Services at Deloitte China

Kenneth Lee

Counsel at Chan & Jamison LLP

Gavin Wai

Patent Attorney, Director, Global Business Tax Services of Deloitte China

Sarah Chan is a Tax Partner of Deloitte China and has more than 25 years of tax and business advisory experience. She is also the Lead Partner of Business Process Solution team of Deloitte China Southern Mainland Region and has more than 10 years of leadership role in Global Compliance and Reporting.

Sarah has extensive experience in advising multinational corporations on structuring transactions, business reorganization, operational re-modelling, cross-border financing and exploring investment options and exit plans. Her expertise also includes resolving contentious issues and disputes with local tax authorities and managing tax, financial and regulatory reporting of companies with multi-jurisdictions operations.

Sarah’s main industry focuses are technology, consumer and industrial products, professional and financial services.

Yiu-Hong Chung is a Tax Director with Deloitte China’s International and M&A Tax Services based in Hong Kong.

Yiu-Hong spent one year with International Core of Excellence in Deloitte New York office where he provided technical and practical solutions to U.S. based MNCs on their investments, operations and restructurings involving China and Hong Kong. He also worked in Deloitte China's National Technical Center in Shanghai, where he reviewed and provided comments to draft circulars before official release by the State Taxation Administration of China and contributed to technical writings of the Deloitte China firm.

Yiu-Hong provides one-stop tax services to multinational and private clients who wish to invest into China and Hong Kong, including structuring and acquisition issues, Pillar 2 advisory, IP planning and implementation, supply chain planning, cross-border transfer pricing strategies, corporate reorganizations, family office set up, and tax/regulatory compliance matters. He has assisted clients in a wide range of industries, including finance, manufacturing, consumer goods, pharmaceuticals, technology, apparel, software and electronics, etc.

Yiu-Hong holds a B.A. from the Chinese University of Hong Kong. He also studied in the University of Texas at Austin through an exchange program. Yiu-Hong is a member of the HKICPA.

Season is a senior manager in the Transfer Pricing team of Deloitte Hong Kong office.
She has over 10 years of professional experience in the field of transfer pricing, China tax and international tax advisory service. She is specialized in providing tax and regulatory advice to multinational corporations, SOE and listed companies on cross-border investments and related tax matters, including transfer pricing planning, business model optimization, supply chain planning, tax/regulatory matters related to Initial Public Offering, Hong Kong profit tax offshore claim etc.
Season’s major clients cover a wide range of industries, including banking, financial services, manufacturing, distribution, retailing, electronics, garment, medical devices, consumer products, etc.

Kenneth is Counsel at Chan & Jamison LLP (Deloitte Legal Hong Kong). His practice covers the span of core Deloitte Legal global service offerings, including Corporate/M&A, Contracting and People/Employment Law.
In particular, Kenneth has extensive experience in handling and advising on general commercial and corporate finance transactions, including public and private mergers and acquisitions, fundraising as well as general compliance matters.
Prior to joining Deloitte Legal Hong Kong, Kenneth worked at the corporate and M&A groups of several global U.S. and U.K. headquartered law firms. He has also worked at the Listing Division of the Hong Kong Stock Exchange and at a U.S. private equity fund.
Kenneth is admitted to practice in New York, USA (2011) and Hong Kong (2017). He speaks English, Cantonese and Mandarin.

Gavin Wai is a Director of Deloitte China based in Hong Kong office specializing in innovation tax incentives, in particular R&D and Patent Box tax regimes. He has nearly a decade of experience helping companies successfully simplify and navigate the complexities around these regimes.
Prior to joining Deloitte, Gavin was the Global Head of IP Operations for a FTSE 100 sustainable technologies company – and before that National IP/Technical Patent Box Lead for Deloitte UK in London, where he built up a reputation and successful track record of helping companies maximise the tax benefits obtained from these regimes.
Gavin’s unique and broad academic background spans science, engineering and law, which allows him to fully understand the technical details of clients’ R&D activities and intellectual property (IP). He is therefore skilled in relaying this to Tax Inspectors, substantiating R&D and Patent Box claims and resolving enquiries with Tax Authorities.
Gavin holds a BSc in Biotechnology & Biochemistry from Imperial College London, an MSc in Biochemical Engineering from University College London (achieving academic excellence awards from both institutions, as well as a full scholarship from the latter) in addition to a Postgraduate Certificate in IP Law from Queen Mary, University of London.

Guest Registration

Standard PriceComplimentary

AmCham HK

Contact us