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The Italian Chamber of Commerce in Hong Kong & Macao in collaboration with Deloitte China is pleased to invite you to our Breakfast Seminar on Wednesday, December 7. Experts from Deloitte China will discuss the potential tax implications of Hong Kong's refined Foreign-sourced Income Exemption (FSIE) regime, which was gazetted on Oct 28, 2022, following a prolonged negotiation with the European Union and consultation exercise.
The Bill proposes that specified foreign-sourced income would be deemed taxable in Hong Kong unless certain conditions are met. Subject to legislative procedures, the new regime will be effective from 1 January 2023. During the event, Deloitte China's tax partners Roy Phan and Doris Chik will share the key features of the FSIE regime, who will be affected, the impact on common Italian investment structures, and the possible solutions to enhance the tax exemption position for the related income. Analysed examples of structures similar to the Italian multinational groups will be covered during the seminar.
Speakers
Olderigo Fantacci
Tax Partner at Deloitte Ap Ice Limited – Studio Tributario E Societario
More Information
Doris Chik
Tax Partner at Deloitte
https://www.linkedin.com/in/doris-chik-2003b892/?originalSubdomain=hkDoris Chik is a Partner of National Tax Technical Centre of Deloitte in Hong Kong. She focuses on tax technical analysis, research, tax policy consultation, article writing and training. She is a frequent speaker in tax seminars, as well as a writer of various tax technical articles and publications.
Doris has over 20 years of professional experience in tax services. She has broad professional experience gained from working in different aspects, including Business Tax Services and International and M&A Tax Services, technical and training. She specializes in Hong Kong and international tax planning. She has experience in serving many multinational clients.
Doris holds an MBA from the University of Hong Kong and a BBA in Professional Accountancy from the Chinese University of Hong Kong. She is a Chartered Tax Advisor and a fellow member of The Taxation Institute of Hong Kong (TIHK), a Certified Public Accountant of The Hong Kong Institute of Certified Public Accountants (HKICPA), a fellow member of the Association of Certified Chartered Accountants (ACCA), and a member of the Association of Women Accountants.
Olderigo
Fantacci
Tax Partner at Deloitte Ap Ice Limited – Studio Tributario E Societario
https://www.linkedin.com/in/olderigo-fantacci-02451817/Olderigo is a tax partner with more than twenty-five years of experience in Italian and international tax issues within Deloitte in Italy, in the US and, currently, in China.
After working at Deloitte’s Rome and Milan offices, he became a tax partner in Florence where he established and led the local tax practice from 2000 to 2008. From 2008 until 2012, he worked at Deloitte US in New York as a Managing Director of the Italian Desk, assisting many Deloitte US clients with their investments in Italy. Since 2012, Olderigo has been at the head of Deloitte Italy's China Desk in Hong Kong where he supports Italian firms based in China and Asia-Pacific with their local tax issues and consults Chinese groups in the acquisition process of investments in Italy.
Roy Phan is a Tax Partner based in Hong Kong. He has more than 16 years of experience providing Hong Kong, China and international tax consulting, as well as Hong Kong tax compliance services extensively for financial services clients (including banking and securities groups, insurance companies, investment funds and asset managers) and MNC clients.
Roy is specialized in advising private equity funds, hedge funds and family offices on their Hong Kong and China tax issues at fund formation, in particular the applicability of the fund exemption regime in Hong Kong and the potential issue in China on indirect transfer in equity. He is also experienced in providing advice on the tax efficient structures for funds from profit repatriation and future exit perspectives. Roy has resolved disputes with the Hong Kong Inland Revenue Department on various industry issues for MNC and financial services clients (including source of interest income, deductibility of interest expense).
Roy led various regional tax projects on group restructuring, cross-broader transactions, merger and acquisition deals for PE funds, banks and insurance companies, which involves diverse jurisdictions such as Thailand, Philippines, Indonesia, Malaysia, Singapore, Taiwan, Korea, etc.
