On 2 Jul 2009, Hang Seng Bank organized a seminar for commercial customers on “Strategy for Tax Management in PRC and HK” with PricewaterhouseCoopers Ltd. Representatives from PricewaterhouseCoopers Ltd shared with us on the following topics:

Hong Kong Tax Management

	Administration on depreciation allowance on plants and machinery used in the PRC
	Updates on Arrangement for the Avoidance of Double Taxation
	Latest development on HK tax investigation and other tax related issues

Mainland Tax Management

	Updates on value added tax reform
	Tax implications arising from transformation of processing business
	Updates on new regulatory framework on corporate restructuring
	Transfer pricing - Updates and implications

Speakers:
Mr Victor Lee, Senior Manager, Hong Kong Tax
Mr Philip Hung, Director, Hong Kong Tax
Mr Jeremy Ngai, Partner, PRC Tax
PricewaterhouseCoopers Ltd is solely responsible for the information, advice and/or opinion provided by its representative(s) in the seminar. The Bank has no obligation to check or verify nor bears any liability or responsibility arising from or in connection with such information, advice or opinion. Such advice or opinion does not represent the Bank's stance. The Bank has no affiliation with PricewaterhouseCoopers Ltd.