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Italian Financial Transaction Tax

Defining options for compliance

Start Date and Time

October 10, 2013 9:30 AM

End date and time

October 10, 2013 10:30 AM

Time zone:

(GMT+08:00) Beijing, Chongqing, Hong Kong, Urumqi

Venue

Deloitte Learning Centre
6/F, Cityplaza 4, Taikoo Shing,
12 Taikoo Wan Road,
Hong Kong China

 

Registration Information

This event is by invitation only. Please enter the event code provided in the invitation email (case sensitive).

Contact information

Seminar content
Evon Chik
(植以媛小姐 – 税务部)

Registration status:
Wandy Luk

Registration options

Invitation only

Event registration is closed.

Payment Information

Complimentary to our valued clients and contacts.

To register, please type the event code on your invitation in the "Event Code" box on the right of this page and click the blue Register button to begin.

You will receive an acknowledgement from the registration site. Due to the limitation of seats, each company is encouraged to have up to 3 representatives registering for this seminar. Our firm reserves the right to make the final selection and our confirmation note will be addressed to you via email on or before Tuesday, 8 October 2013.


Despite Monte Titoli announcing an extension of time for intermediaries using their service, the first date for payment of the Italian Financial Transaction Tax ("IFTT") is still approaching quickly.  

Have you considered all your options for compliance, and the consequences of not complying?  Are you ready?

With two new measures issued in March 2013, the Italian tax authorities provided a list of countries which do not allow for the exchange of information with the Italian tax authorities.  Financial Intermediaries established in these “non-white-list Countries” are considered to be the “final buyer” for IFTT purposes and are subject to taxation accordingly.  As Hong Kong is considered a “non-white list Country” for IFTT purposes, brokers resident in Hong Kong which are involved in transactions falling within the IFTT's scope (e.g., a transfer of Prada shares and/or a transaction in derivatives as an underlying Prada share) are, in principle, subject to tax.

There are now options for financial intermediaries in Hong Kong to be treated as if they are resident in a "white list" country for the purposes of IFTT compliance.

We are delighted to invite you to join our upcoming seminar on “IFTT – Defining options for compliance” on Thursday, 10 October 2013.

In this seminar we will provide a practical overview of the options available to financial intermediaries operating in Hong Kong to comply with the IFTT.

Topics to be covered:

  • An overview of the IFTT and its application in Hong Kong
  • Trade flows involving Prada and those involving securities with a listing in Italy
  • Options and obligations of Hong Kong intermediaries to comply with the IFTT, including specific requirements to achieve compliance; and
  • The IFTT's enforceability in Hong Kong.

We will also provide an update on the latest developments and current status of the wider European Union Financial Transaction Tax.  Additionally we will provide an update on the latest FATCA developments affecting financial institutions in Hong Kong.

The seminar will be focused on Banks and Securities traders but it is open to all financial services organizations.

Speakers:
Carl Church, Managing Director, AP ICE, Hong Kong
Davy Yun, Tax Partner, Financial Services, Deloitte China

Date: Thursday, 10 October 2013

Time
Registration: 9:15am – 9:30am
Seminar:  9:30am – 10:30am

Language: English

Venue: Deloitte Learning Centre
6/F, Cityplaza 4, Taikoo Shing, 12 Taikoo Wan Road, Hong Kong

Fee: Complimentary to our valued clients and contacts.

Event registration is closed.

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