Recent development in the IRD Tax Audit on Hedge Fund and Private Equity

In the past few years, the Inland Revenue Department (IRD) has embarked on the review of the fund management industry including hedge fund and private equity. Their work originally concentrated on the taxability of the offshore fund manager and whether the investment advisor in Hong Kong is properly remunerated. However recently IRD has also look into other areas in the fund Industry.

This course will provide a practical overview of how to handle a tax audit with special attention on the tax audit implications for offshore funds, fund managers and their employees. The speakers will share with participants their experience on how to handle those fund manager tax audits. Between the 2 speakers they have helped clients to resolve over 50 cases. Some of them did not involve any adjustment.

Detailed Information

  • Brief background on the IRD tax audit
  • How does the IRD choose cases for tax audit
  • How to handle an IRD protective assessment
  • How to handle a tax audit on fund manager
    • Field audit and investigation process of the IRD
    • What should a taxpayer do when they receive a letter for tax audit
    • The importance of the IRD interview on fund manager tax audit
    • Issues to consider when trying to resolve the audit e.g. transfer pricing issues for fund manager
    • Ways and means to resolve a tax audit case
    • Case studies
  • Way forward – Prevention is better than cure
  • Q&A

Registration Conditions

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