Rise of Regional Treasury Centers: Opportunities for Hong Kong as Asia’s
3:00-5:00pm . As global and Asian companies are seeking to expand their business footprints in the region, Hong Kong and Singapore have become popular locations in Asia for Corporate Treasury Centers (CTCs). Corporate treasury plays an important role to support these expansions for fund consolidations, bank account rationalization, cash pooling, and relationship management, and to enhance facilitation and coordination to bridge gaps in regulations, business customs and financial market practices. In recent years, an increasing number of CTCs has been set up in Australia, Japan, Malaysia and Thailand. The Hong Kong Government has amended the Inland Revenue Ordinance to encourage corporates to set up their treasury centers in Hong Kong.
Key changes include to: allow, under specified conditions, deduction of interest expenses in calculating profits tax for the intra-group financing business of corporations, and; reduce profits tax for specified treasury activities by 50 per cent (i.e. to 8.25%) for qualifying CTCs. The Hong Kong Monetary Authority (HKMA) has worked closely with the Government and the industry to enact these incentives. Please join this session to understand the current trends in Asia for CTCs and opportunities for Hong Kong to serve a regional CTC hub. First 15 minutes is for networking Light refreshment included Hosted by the Financial Services Committee
The American Chamber of Commerce in HK 1904 Bank of America Tower 12 Harcourt Road Central, Hong Kong