How the Latest OECD’s BEPS 2.0 Will Impact HK Businesses (Virtual)

On 20th December the OECD published details of their global minimum tax proposals. These will reshape the global tax landscape and could have a wide range of implications for large multinational enterprise groups.

In less than 12 months, significant changes are expected to be introduced to Hong Kong's tax system as a result of the OECD's BEPS 2.0 initiatives and the inclusion of Hong Kong SAR in the EU's tax 'grey-list'. This will result in significant tax increases for some groups. Others may need to consider whether their current business arrangements are still the most appropriate, while all will face a challenge of understanding the complex new rules and ensuring they have the necessary systems in place to meet their compliance obligations.

In this joint-chamber webinar, KPMG tax partner, Ivor Morris, will discuss how the OECD's BEPS 2.0 Pillar 2 rules may affect businesses in Hong Kong and the key areas for consideration. Key topics that will be discussed include:

• The potential impact for groups with tax losses and timing differences;
• The potential impact on accounting disclosures;
• Key considerations for certain industries such as shipping and real-estate;
• What actions affected businesses in Hong Kong can take to prepare themselves for the upcoming changes including managing data collection; and
• The potential responses from the Hong Kong SAR Government as a result of the latest BEPS 2.0 developments and the inclusion of Hong Kong SAR in the EU's "tax grey-list.

Speaker

Ivor Morris joined KPMG's Hong Kong office in 2009 and became a tax partner in 2017. Ivor has extensive experience of advising international clients in Hong Kong on their corporate tax matters. He works with many multinational groups and investment funds on cross-border related matters. Ivor received his Master degree in Arts from the University of Cambridge. He is a fellow member of the Institute of Chartered Accountants in England and Wales and serves on a number of industry and charity bodies.