December 13, 2022 • 1 minute read

The New QI Agreement 2023: What it means for you (Webinar Recording)

By Kirsty Pitkin

Kirsty joined TConsult in 2004 and was appointed CEO in 2018. In that time, she has guided the company through a phase of digital transformation, developing systems that allow the company to support more clients without compromising on the quality of regulatory opinions that are offered.

Kirsty uses her background in communications to help clients understand their obligations and develop effective systems for managing their compliance. She also coordinates work with regtech and fintech partners developing compliance software.

Kirsty is passionate about communicating in simple, accessible language that everyone can understand. She specialises in translating complex tax technical documents into a form that allows financial institutions to make more informed compliance decisions.

We held a webinar for financial institutions in Hong Kong and Taiwan to discuss the impact of the proposed changes in the new QI Agreement, which is due to come into effect on 1st January 2023.

The new QI Agreement is expected to include new obligations for qualified intermediaries that allow their clients to trade in publicly traded partnerships, known as PTPs. These obligations relate to Section 1446(f) of the U.S. tax code, which governs the taxation of gross proceeds when there is a gain on the sale of an interest in a PTP.

This webinar provided financial institutions with a high level overview of the operational choices available to them and a discussion of the issues they must consider when these new obligations take effect.

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