Travis Benjamin holds seminar for tax clients

Travis Benjamin recently held a client seminar on the taxation of trusts in Hong Kong. In the presentation, he reviewed the law and authorities on the taxation of trusts in Hong Kong , explained why the Inland Revenue Department is reluctant to articulate a clear view on the matter; offered the firm’s view on the correct technical approach to the taxation of trusts in Hong Kong; considered the tax position of unit trusts and explained why fiduciary duties for trustees and managers impact the tax analysis; discussed the implications of Hong Kong’s tax treaty network on the taxation of trusts and outlined the tax issues arising from re-domiciliation of trusts to Hong Kong.

Attendees included senior executives from Invesco, Kerry Holdings, Noah Holdings, Schroder Investment Management, Standard Chartered, HSBC and UBS. His presentation was followed by a brief Q&A. A timely and relevant topic, the seminar was well received and strengthened ties with these valued clients.