Bills Committee on
Revenue (Profits Tax Exemption for Offshore Funds) Bill 2005

Meeting on Tuesday, 25 October 2005, at 9:00 am
in the Chamber of the Legislative Council Building

AGENDA

I.Meeting with deputations and the Administration
(9:00 am - 11:45 am)

Part A: Presentation of views by deputations

LC Paper No.

Deacons

--

Capital Markets Tax Committee of Asia

CB(1)44/05-06(01)
(English version only)
(issued vide LC Paper No. CB(1)71/05-06 on 18 October 2005)

British Chamber of Commerce in Hong Kong

CB(1)44/05-06(02) (Revised)
(English version only)
(issued vide LC Paper No. CB(1)98/05-06 on 19 October 2005)

Clifford Chance

CB(1)44/05-06(03)
(English version only)
(issued on 13 October 2005)

Hong Kong Society of Financial Analysts Limited

CB(1)44/05-06(04)
(English version only)
(issued on 13 October 2005)

Hong Kong Stockbrokers Association

--

Ernst & Young Tax Services Limited

CB(1)44/05-06(05)
(English version only)
(issued on 13 October 2005)

PricewaterhouseCoopers Ltd.

CB(1)44/05-06(06)
(English version only)
(issued vide LC Paper No. CB(1)71/05-06 on 18 October 2005)

Deloitte Touche Tohmatsu

CB(1)44/05-06(08)
(English version issued on 13 October 2005)
(Chinese version attached)

Hong Kong Investment Funds Association

CB(1)44/05-06(09)
(English version only)
(issued vide LC Paper No. CB(1)71/05-06 on 18 October 2005)

KPMG Tax Limited

CB(1)44/05-06(10)
(English version only)
(issued on 13 October 2005)

The Taxation Institute of Hong Kong

CB(1)44/05-06(11)
(English version only)
(issued on 13 October 2005)

Alternative Investment Management Association

CB(1)44/05-06(12)
(English version only)
(issued on 13 October 2005)

The Hong Kong General Chamber of Commerce

CB(1)44/05-06(13)
(English version only)
(issued vide LC Paper No. CB(1)117/05-06 on 21 October 2005)

Goldman Sachs (Asia) L.L.C.CB(1)138/05-06(01)
(English version only)
(attached)

SINOPIA Asset Management (Asia Pacific) LimitedCB(1)138/05-06(02)
(English version only)
(attached)

Other submissions

Submissions from the following parties not attending the meeting:

Organization

CPA Australia, Hong Kong China Division

CB(1)44/05-06(14)
(English version only)
(issued on 13 October 2005)

The Law Society of Hong Kong

CB(1)44/05-06(15)
(English version only)
(issued on 13 October 2005)

The Association of Chartered Certified Accountants (Hong Kong)

CB(1)44/05-06(16)
(English version only)
(issued on 13 October 2005)

Hong Kong Venture Capital and Private Equity Association

CB(1)44/05-06(17)
(English version only)
(issued on 13 October 2005)

Hong Kong Association of Banks

CB(1)44/05-06(18)
(English version only)
(issued vide LC Paper No. CB(1)71/05-06 on 18 October 2005)

Hong Kong Institute of Certified Public Accountants

CB(1)44/05-06(07)
(English version only)
(attached)

Individual

Mr David GUNSON

- First submission dated 10 August 2005

CB(1)44/05-06(19)
(English version only)
(issued on 13 October 2005)

- Second submission dated 13 September 2005

CB(1)44/05-06(20)
(English version only)
(issued on 13 October 2005)

Paper prepared by LegCo Secretariat

Summary of submissions
(Position as at 21 October 2005)

CB(1)117/05-06(01)
(English version issued on 21 October 2005)
(Chinese version to follow)

Part B: Response by the Administration

Administration's Responses to the Submissions made to the Bills Committee

CB(1)117/05-06(02)
(To be tabled at the meeting)

Part C: Discussion

II.Meeting with the Administration
(11:45 am - 12:40 pm)

Matters arising from the first meeting on 15 July 2005

LC Paper No.

The Bill

CB(3)770/04-05
(issued on 30 June 2005)

"List of follow-up actions to the first meeting on 15 July 2005" prepared by the Legislative Council Secretariat

CB(1)44/05-06(21)
(issued on 13 October 2005)

Paper provided by the Administration on "Follow-up to meeting on 15 July 2005"

CB(1)44/05-06(22)
(English version issued on 13 October 2005)
(Chinese version to follow)

Letter dated 27 August 2005 from the Assistant Legal Adviser to the Administration, with extracts of relevant statutory provisions

CB(1)44/05-06(23)
(issued vide LC Paper No. CB(1)71/05-06 on 18 October 2005)

Paper provided by the Administration on "Response to issues raised by the LegCo Assistant Legal Adviser in letter dated 27 August 2005"

CB(1)44/05-06(24)
(English version issued vide LC Paper No. CB(1)117/05-06 on 21 October 2005)
(Chinese version to follow)

III.Any other business
(12:40 pm - 12:45 pm)

Council Business Division 1
Legislative Council Secretariat
24 October 2005