DITC Passcode and ES Annual Return Submissions

IMPORTANT UPDATE – APPOINTMENT OF SECONDARY USER

The International Tax Co-Operation (Economic Substance) Law (“ES Law”) requires every relevant entity (“Entity”) that is carrying on a relevant activity to satisfy the economic substance test in relation to that relevant activity (“ES Test”).

Each such Entity must prepare and submit to the Tax Information Authority (“Authority”) an economic substance report (“ES Return” or “this form”) for the purpose of the Authority’s determination as to whether the ES Test has been satisfied in relation to that relevant activity.

The ES Returns must be submitted within twelve months after the last day of the end of each financial year commencing on or after 1 January 2019. If an Entity conducts more than one relevant activity during a financial year then it must prepare and submit a separate ES Return in relation to each such relevant activity.

Portcullis (Cayman) Ltd has now received the activation link and passcode from The Department of International Tax Cooperation (DITC) for ES Return submission for the subject Company.

If you wish to use our FILING SERVICE, you must complete and return a signed ES Return to the respective Corporate Administrator for our submission. See Table below for the ES Return Forms. Our service fee for submitting the ES Return or the Form for Entity on your behalf will be USD350.00 per Company.

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If you wish to attend to the filing of the ES Return, please inform your Corporate Administrator and we will appoint you as a secondary user. Please note that the secondary user will only be able to view, edit and make a submission for the ES return of the entity. You may nominate a secondary user for the Entity to us by providing an Extract of Resolution for Appointment (see template attached). Please note that such appointment will remain effective in the DITC Portal system until you advise us otherwise in writing.

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We will require the following documents for the secondary user.
DITC PORTAL [SECONDARY USER EXTRACT OF RESOLUTION FOR APPOINTMENT OF SECONDARY USER TEMPLATE]

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An individual secondary user

(we may already have these documents. If the appointee is a director or shareholder of the Company that we have already undertaken due diligence on, please do let us know):-

1. A duly certified copy of passport (including signature page); and
2. A proof of residence not more than 3 months old.

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A corporate of the individual secondary user (Regulated or Professional Firm such as a CPA or Legal Firm)

1. Regulatory/License Number, Name and Contact Details of the Regulated Firm (to enable independent verification)
2. An extract of the Board Resolution appointing representatives (template attached)

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A corporate of the individual secondary user (Unregulated)

1. An extract of the Board Resolution appointing representatives (template attached)
2. Due Diligence on the Corporate Entity namely Certified Copies of:-

a. Certificate of Incorporation or Registration
b. M&A
c. Register of Directors
d. Register of Shareholders

3. Due Diligence of each representative as for an individual secondary user above

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The Entity will also be required to submit financial statements or the books of accounts certified by the Entity’s Director(s) for the Financial Year in support of the ES Return. Should you require ACCOUNTING SERVICES, you may contact our Hong Kong and Singapore Offices at:

Portcullis Tax Services (HK) Limited
Tel: (852) 2525 9991 | DDI: (852) 3173 1046 |
Email: pisces.wong@portcullis.co
Attention: Ms Pisces Wong, Senior Accounts and Tax Manager

OR

Portcullis Family Office Pte Ltd
Tel: (65) 6496 0496 /DDI: (65) 6496 0454
Email: yeeyee.tey@portcullis.co
Attention: Mr Tey Yee Yee, Senior Accountant

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Penalty

Where a relevant entity fails to submit to the ES reporting, the Authority shall impose a penalty of five thousand Cayman dollars and an additional penalty of five hundred Cayman dollars for each day during which the failure to comply continues.

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Deadlines

Reporting deadlines for the filing of the ES returns have been further extended as outlined below.

This extension only applies to this first year.

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If you have difficulty with providing the documents or should you require clarification, please do not hesitate to contact your Corporate Administrator or direct your question to esreturn@portcullis.co

Thank you.

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PORTCULLIS GROUP
www.portcullis.co

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國際稅賦合作處密碼及經濟實質年度申報書

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重要更新規定 – 指定第二使用人

依國際稅賦合作（經濟實質）法（下稱「經濟實質法」）的規定，每家經營相關業務的相關實體（下稱「相關實體」），必須通過有關該相關業務的經濟實質測試（下稱「經濟實質測試」）。

每家相關實體皆須編製一份經濟實質報告（下稱「經濟實質申報書」或「本表」），將之提交稅務資訊管理局（下稱「稅資局」），使稅資局得以判定相關實體是否已通過其相關業務的經濟實質測試。

經濟實質申報書必須在2019年1月1日當日或之後開始的每一財務年度終了日起12個月內提交。相關實體若在某一財務年度期間經營多項相關業務，則必須為每一項相關業務分別編製及提交一份經濟實質申報書。

保得利(開曼)有限公司目前已接獲國際稅賦合作處就主旨公司提交經濟實質申報書所發送的啟動連結及密碼。

貴公司若希望使用本公司的申報服務，請填寫一份經濟實質申報書，簽名後將之交回 貴公司的公司代表管理人員，以便供本公司提交之用。關於經濟實質申報書表格，請參下表說明。本公司代 貴公司提交相關實體的經濟實質申報書或表格，將酌收服務費每家公司USD350.00。

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貴公司若擬辦理經濟實質申報書的提交，請告知 貴公司的公司代表管理人員，本公司將指定您為第二使用人。請注意，第二使用人僅能瀏覽、編輯及提交實體的經濟實質申報書。 貴公司得以提供一份指定決議書摘錄（請參附件範本）之方式，向本公司指定一位相關實體的第二使用人。本項指定的效力，將一直存續於國際稅賦合作處入口網站系統中，直至 貴公司以書面通知本公司撤銷
該指定為止。

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本公司將索取下列第二使用人文件。
DITC PORTAL [SECONDARY USER EXTRACT OF RESOLUTION FOR APPOINTMENT OF SECONDARY USER TEMPLATE]

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個人第二使用人

(本公司或許已有這些文件。若被指定人是本公司曾對其進行盡職調查的公司董事或股東，請確實告知本公司):-

1. 一份經正式認證的護照影本（包括簽名頁）；及
2. 一份3個月內的地址證明。

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公司個人第二使用人（受監管或專業事務所，例如會計師事務所或律師事務所等）

1. 受監管事務所的登記/證照號碼、名稱及聯絡資料（得用以進行獨立核實者）。
2. 指定代表人的董事會決議書摘錄（請參附件範本）。

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公司個人第二使用人（非受監管者）

1. 指定代表人的董事會決議書摘錄（請參附件範本）。
2. 關於法人實體的盡職調查文件，亦即下列文件的認證影本：-

a. 實體正式設立或註冊證書。
b. 公司章程。
c. 董事名冊。
d. 股東名冊。

3. 各代表人就擔任上述個人第二使用人的盡職審查文件。

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相關實體亦須提交經其董事認可的當期財務年度的財務報表或會計帳冊，作為其經濟實質申報書的憑證。若貴公司需要會計服務，請洽詢本公司的香港及新加坡辦公室：-

保得利稅務服務（香港）有限公司（Portcullis Tax Services (HK) Limited）
電話: (852) 2525 9991 | 專線: (852) 3173 1046 |
電郵信箱: pisces.wong@portcullis.co
專責人員: 資深帳務與稅務經理Ms Pisces Wong

或

保得利家族辦公室有限公司（Portcullis Family Office Pte Ltd）
電話: (65) 6496 0496 /專線: (65) 6496 0454
電郵信箱: yeeyee.tey@portcullis.co
專責人員: 高級會計師 Mr Tey Yee Yee

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罰則

相關實體未提交經濟實質申報書者，稅資局將處以開曼幣五千元罰款，對於未提交的期間，每逾期一日另加罰開曼幣五百元。

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最後期限

經濟實質申報書的最後提交期限，已進一步展延如下表所述。
本項展延僅適用於本第一年度。

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若貴公司在提供文件上有困難或需要說明，請洽詢 貴公司的企業經理或將問題寄至：esreturn@portcullis.co。

謝謝。

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保得利集團
www.portcullis.co