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  • Peter Kam Fai Cheung SBS

When Will I Pay Cyber Tax?


FADE IN:

INT. STUDY - DAY

A table clock displays 01:50. PETER works with tired eyes in the midst of files and papers.

PETER (V.O.)

I want to achieve my

work target and beat

a deadline. And I

want to attend a tax

seminar too.

INT. LECTURE THEATER - DAY

A few souls. Peter sits close to the podium. A SPEAKER (50s) speaks from his chair.

SPEAKER

As some of you might

not be tax specialists, I'll

start with the fundamentals.

PETER (V.O.)

Great. I should be able

to follow.

MONTAGE OF PETER'S LEARNING INTEREST

A/ INT- BOOK STORE - DAY

Peter (20s) stares at book titles in the Philosophy section.

B/ INT. STUDY - NIGHT

Peter (20s) studies at a desk. Books on Logic, Knowledge, Ethics, Politics and Religion.

C/ INT. HKPolyU LIBRARY - DAY

Peter (20s) reads volumes if the Encyclopedia of Philosophy.

D/ INT. HKU Law Library - DAY

Peter reads books on Jurisprudence.

END MONTAGE

PETER

Although I was lack of means

in my teens, I liked to learn

something other than money

in my 20s. I didn't earn much

and didn't pay much tax.

Pausing.

PETER (V.O.)

When I first became a home

owner at the age of 29, I

realized how heavy was the

financial burden. If I had

more money, it would enable

me to have less constraints.

FLASHBACK

INT. OFFICE - DAY

Peter (50s) chats with a group of INTERNS.

PETER

If you want to earn lots of

money quick, you should

specialize in areas

facilitating your clients to

get more money,like

Corporate Financing, or to

pay less tax, like International

Taxation.

END FLASHBACK

PETER (Cont'd)

Yes, circumstances impact

on my values at different

stages of life.

The Speaker continues to speak.

SPEAKER

The slide represents a French

Enterprise having a Hong

Kong company to hold its

IP portfolios.

PETER (V.O.)

That's interesting. Hong Kong's

simple tax regime is still

attractive.

The Speaker continues.

PETER (V.O.)

He also covers transfer pricing

of IP through centralized and

decentralised business models.

Peter examines a slide on the screen.

PETER (V.O.) (Cont'd)

I see... That's how it works in

the real world. How about

the virtue world?

SPEAKER

...It's still a paradise. OECD

has just begun addressing the

tax challenges in the digital

economy...

The SPEAKER then engages with the MODERATOR sitting next to him.

SPEAKER

What's your take on this?

MODERATOR

Many questions, but no

solutions.

After a brief Q & A Session, the seminar ends.

PETER (V.O.)

Okay, a useful update.

INT. STUDY - NIGHT

Peter researches with his phone. We see on the screen the OECD icon and words in bold type "Addressing The Tax Challenge of the Digitization of the Economy".

PETER (V.O.)

Taxing cyberspace platform

proprietors and users of a

percentage of their profit margin

for the real world economy is

understandable. What I'm really

interested in is OECD's analysis

of the drivers that make digitized

businesses having a big profit

margins.

Pausing.

PETER (V.O.) (Cont'd)

There's the belief that if one

can fix a problem with money,

then it's not really a problem

at all.

Pausing.

PETER (V.O.) (Cont'd)

When I had mortgages to

pay, I needed to borrow

money to solve my tax

problem. Since I have

paid off all my mortgages,

I feel free and have more

control of my life.

Pausing.

PETER (V.O.) (Cont'd)

And if I can derive a profit

margin in royalties out of

my digitized copyright

works, I don't mind paying

tax to the world out of

my participation in the

digital economy!

DAYDREAM SEQUENCE

A/ Peter and everyone in cyberspace have their unique digital identifiers.

B/ Views of Peter's digitized works such as reviews, photos, music-videos continue to grow digitally.

C/ Social network platforms proprietors remunerate Peter with their cryptocurrencies like slot machines that have gone crazy.

D/ Peter notes that cyberspace tax has already been withheld by the decentralized blockchain-based Cyberspace Tax Authority.

E/ The Cyberspace Tax Authority shares the revenue from cyber tax with all economies!

END DAYDREAM SEQUENCE

PETER (V.O.)

Wouldn't that be the solution

to the problem?

Pausing.

PETER (V.O.) (Cont'd)

When will I pay cyber tax?

Peter smiles.

FADE OUT. The End

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