New DIPNs on deductions on R&D expenditure, health insurance premiums under VHIS, and deferred annuity premiums and TVC
Cantonese with English Terminology
19:00 - 20:30
The Hong Kong SAR Government has made innovation and technology a policy priority. To encourage enterprises to conduct more research and development (R&D) activities, a new tax incentive for R&D super deduction on qualifying expenditure was introduced with effect from the year of assessment 2018/19.
To encourage individuals to purchase certified plans for themselves or their specified relatives under the Voluntary Health Insurance Scheme (VHIS) and to make voluntary savings for retirement, new concessionary deductions under salaries tax and personal assessment were introduced. With effect from the year of assessment 2019/20, individuals can claim deduction for qualifying premiums paid under VHIS policies, qualifying annuity premiums paid under qualifying deferred annuity policies and tax deductible voluntary contributions (TVC) paid. The Inland Revenue Department (IRD) recently issued three
Departmental Interpretation & Practice Notes (DIPN) to provide guidance to taxpayers on these new tax deductions:
1. DIPN 55 – Deduction for Research and Development Expenditure;
2. DIPN 56 – Concessionary Deductions: Sections 26H to 26M Health Insurance Premiums; and
3. DIPN 57 – Concessionary Deductions: Sections 26N to 26U Annuity Premiums and Voluntary Contributions.
In this seminar, the authors of the new DIPNs will walk you through the key points of the new tax deductions and some examples in the DIPNs.
Speaker Michelle CHAN Shun-mei, Fiona WONG Pui Ki, Florence LAM Pui Kuen
CPD Credit Hour : 1.50 Hours
Fee : Taxation Faculty Member: HK$120 | HKICPA member or student: HK$150 | IA/HKIAAT member or student: HK$150 | Non-member: HK$330
More Info : http://bit.ly/2G0Xu8E
Application Deadline : 12 September 2019