Club Lunch: U.S. and Chinese Taxes – They’ve Changed
Tuesday, May 5, 2015
12:30pm for 12:45pm – lunch
1:15pm – address
Speaker: Larry Lipsher
California and Hong Kong CPA
Mr. Lipsher provided an update on the latest changes to tax laws including:
* New enforcement procedures in China for all expatriate tax filings – not just those for Americans
* FATCA and how it is impacting everyone in Hong Kong because of the Type 2 Intergovernmental Agreement between the IRS and the IRD
* The OECD and GATCA – Europe’s alternative to FATCA – due to begin in 2017….not that far away!
* The IRS’s new Streamlined Filing Procedures – the closest the IRS will come to ever giving you a tax amnesty program
Larry Lipsher, a California and Hong Kong CPA, silver FCC member and international tax practitioner for the past 48 years tried again to prove that tax works as stand-up comedy. He gave his somewhat cynical review of individual income tax matters affecting all expatriates in China, not just Americans, as well as the most recent U.S. tax changes, which affected anyone liable to file a U.S. tax return.
He was the author of six ‘off the wall’ books about taxation. For the past 12 years, he had written, far more seriously, the Asian Tax Review and for Tax Analysts of Washington, DC. Prior to his ‘retirement’ in China, he was the only American ever to possess a Chinese CPA certificate.