The Italian Chamber of Commerce is pleased to invite you to attend a business seminar on the change of Permanent Establishment meaning in Hong Kong and its tax implication.
Despite being first introduced in 1940s, the concept of permanent establishment ("PE") has started to be widely mentioned in Hong Kong, and generally worldwide, after the launch of Base Erosion and Profit Shifting (BEPS) project by the OECD in 2015. This program had the aim to tackle international tax avoidance by high-profile multinationals. Moreover, the enactment of Inland Revenue (Amendment No.6) Ordinance 2018 has brought a big change because it primarily implements the international standards of the BEPS package and codifies the transfer pricing principles into the Inland Revenue Ordinance (IRO).
Would this brand-new definition of PE bring more controversy or settlement of tax issues? That's the main theme that this seminar will deepen.