KVB Global Capital, together with KPMG, successfully held a tax seminar at our office in Five Pacific Place, delving into cross-border e-commerce tax updates. We were delighted to welcome industry experts and invited clients to jointly explore the complexities of tax management in cross-border e-commerce and trade.

At this seminar, KPMG's Irene Lee, William Ngai, and Lynn Deng shared their professional insights, covering several key topics, including:

• _ Claims for offshore trading profits: Exploring the entitlement to claim offshore trading profits, with a particular focus on the latest developments concerning e-commerce transactions
• _ Transfer pricing: Analysing transfer pricing trends and the issues e-commerce businesses may face in practice.
• _ Foreign-sourced income exemption: Providing a detailed overview of Hong Kong's foreign-sourced income exemption regime and an in-depth analysis of its impact on e-commerce businesses.
• _ Dual employment: Discussing the dual employment implications for e-commerce businesses operating between the Hong Kong Special Administrative Region and Mainland China.
• _ International expansion: Presenting additional tax planning strategies that e-commerce businesses should consider during international expansion.

We are deeply grateful to the KPMG experts for the profound insights and professional expertise they brought to this seminar. We would also like to thank all the clients and guests who took part in the discussion; it was your active participation and enthusiastic exchange that made this seminar all the more rich and meaningful.