Learning Platform on NGO Governance and Management:
The Webinar on Potential Profits Tax Liabilities of Tax-Exempt Charities was held with success on 29 November 2023.
The Inland Revenue Department (IRD) has updated the procedures on application for recognition of tax exemption status under section 88 of the Inland Revenue Ordinance and has updated the Tax Guide for Charitable Institutions and Trusts of a Public Character in June 2023, which contains the interpretation and practices of the IRD towards the taxation matters of charitable organizations. The purpose of this webinar is to provide insights from governance and accountability perspectives, on the content of the tax guide for charitable organizations, in hopes of helping the organizations to prevent and manage tax controversy risks by understanding and complying with the relevant tax law.
Content outline:
- Understanding the definition of charity from the IRD’s point of view and the relevant tax rules
- Compliance procedures for charitable organizations
- IRD’s current practices and review process
- Potential tax risks and ways for mitigation
Details of the event are as follows:
Date: 29 November 2023 (Wednesday)
Time: 3:00 pm to 4:30 pm
Speaker: Mr. Wilson Cheng, Partner, Tax Leader, Hong Kong and Macau, EY
Language: Cantonese (presentation materials in English)
Presentation material is now available:
Photo from the webinar:
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Mr. Wilson Cheng, Partner, Tax Leader, Hong Kong and Macau, EY, spoke on the latest requirements in complying with the Inland Revenue Ordinance, and shared experience on the mitigation of tax risks with participants. |
