AmCham HK

The American Chamber of Commerce in Hong Kong is one of the largest American Chambers outside the US, the largest international chamber in Hong Kong and the most dynamic and influential international business organization in the Asia-Pacific region.

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Event Details

On August 16, President Biden signed the Inflation Reduction Act of 2022 (the "Act") into law. The Act is a roughly USD 740 billion budget reconciliation package that includes some targeted corporate tax increases, a large increase in funding for the Internal Revenue Service, incentives to promote climate change mitigation and clean energy, and provisions to promote health care affordability. The key tax provisions of the Act relate to a 15% corporate alternative minimum tax on companies with profits greater than USD 1 billion and a 1% excise tax on stock repurchases by publicly traded companies. The Act is also notable for the provisions that it does not include (e.g., several international tax provisions that were in an earlier version of the bill). Join us for this AmCham Hong Kong Tax Working Group event where a panel of US tax professionals will provide an overview of, and observations on, the following items:

  • Legislative recap of the Act and other activity
  • Overview of the 15% corporate minimum tax
  • Overview of the 1% excise tax on stock repurchases
  • Summary of other key tax provisions (e.g., credits and incentives) and important items not included in the Act
  • Closing comments on key takeaways

Although the Act contains only a limited number of corporate tax provisions, taxpayers that are subject to these provisions could be subject to significant additional taxes. This session offers a great opportunity to familiarize yourself with these key provisions, in particular, given (i) the provisions of the corporate minimum tax will become effective for calendar year taxpayers on January 1, 2023 and (ii) the potentially broad application of the excise tax on stock buybacks coupled with an effective date of January 1, 2023.

Please join us for a Zoom meeting with the following details:

  • Webinar login details will be included in your confirmation
  • If you are new to Zoom, here​​​​​​​ are instructions on how to download the software and join a meeting. Please familiarize yourself with the platform beforehand.
  • Please log in 15 minutes in advance of the session start time. This will allow time to troubleshoot any technical issues.
  • Please use the same name you registered with AmCham as your Zoom account.
  • Please type in your questions in the "Chat" button at the bottom screen, the moderator will be selecting questions during the Q&A sessions. If you are using the mobile app, please click "Participants" then "Chat."


David Allgaier (Tax Partner at Deloitte China)

David Allgaier

Tax Partner at Deloitte China

Thomas Chang (Senior Tax Manager at Deloitte APICE)

Thomas Chang

Senior Tax Manager at Deloitte APICE

Jeremy Litton (Principal – APAC Global Tax Desk Leader International Tax and Transaction Services at Ernst & Young)

Jeremy Litton

Principal – APAC Global Tax Desk Leader International Tax and Transaction Services at Ernst & Young

Winona Zhao (International Director of Ernst & Young)

Winona Zhao

International Director of Ernst & Young

Jessica Cutrera (President at Leo Wealth)

Jessica Cutrera

President at Leo Wealth


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