TIHK News

Hong Kong Institute of Certified Public Accountants and The Society of Chinese Accountants & Auditors are co-hosting the CPA Sports Carnival 2023 on 7 May 2023 (Sunday).  The event, themed “Happy 香港•活力CPA”, aims at providing an occasion for professional accountants to communicate and interact with each other through engaging in different sports activities and to share the benefits of exercise.

Being the supporting organisation of the Carnival, we are pleased to invite TIHK Members and Students to attend the event and take part in the following races:

–          60m, 100m, 400m, 1,500m individual (male and female)
–          4x100m relay (male, female and mixed)
–          Tug-of-war (team of 10)
–          Plank (female)
–          Push-up (male)

Event Information:
Date: 7 May 2023 (Sunday)
Time: 9:00 am – 2:00 pm (tentatively)
Venue: Siu Sai Wan Sports Ground, 8 Fu Hong Street, Siu Sai Wan
Enrollment: Click HERE
Enrollment Deadline: 10am, 14 April 2023

For any inquiries, please feel free to contact TIHK Secretariat at tihkadm@tihk.org.hk or call 2810 0438.

Inland Revenue Department – Profits Tax Filing

The Inland Revenue Department (IRD) issued 2022/23 profits tax returns to corporations and partnership businesses on 3 April 2023. Particular attention should be paid to the following:

• All corporations and businesses, regardless of the amount of their gross income and the mode of return filing, must submit profits tax return together with all supporting documents (including financial statements and tax computation). This includes small corporations and businesses with gross income not exceeding HK$2 million, which will no longer enjoy the exemption from furnishing supporting documents when filing their profits tax returns.
• All relevant supplementary forms and other forms required to be furnished with the profits tax return must be e-filed under eTAX.
• If a taxpayer chooses not to e-file the return, the taxpayer has to print and sign a paper Control List for the supplementary forms and/or other forms e-filed and then furnish the signed Control List together with the profits tax return and supporting documents in paper form.

The IRD has gradually enhanced the functions of electronic tax filing to promote tax digitization, to enhance filing efficiency, reliability and accuracy.  Enhanced voluntary e-filing services for profits tax returns have been launched alongside with the following new features:

• All corporations and businesses can e-file profits tax returns under eTAX for the year of assessment 2022/23. They only need to fill in simplified e-returns online, upload the required completed forms and the supporting documents, prepared in Inline eXtensible Business Reporting Language (“iXBRL”) format, then e-sign and submit the returns through the eTAX services.
• Apart from full electronic filing mode, semi-electronic filing mode is also available under the enhanced eTAX services.
• For full electronic filing or semi-electronic filing of profits tax returns, the taxpayer is required to submit the supporting documents (i.e. financial statements and tax computation) in iXBRL format. To help taxpayers prepare the required iXBRL data files, IRD iXBRL Data Preparation Tools are available for download on the IRD website (ird.gov.hk/ixbrl) free of charge.

Taxpayers are encouraged to e-file their profits tax returns through the enhanced eTAX electronic services.

Benefits of e-filing

• Minimizing errors in tax filing
• Reducing the turnaround time for signature or authorization arrangement
• Enhancing the efficiency, reliability and accuracy
• Providing round-the-clock service

Visit IRD’s website at www.ird.gov.hk/e_epf for more details.

Programme Overview

To promote the study of taxation and encourage the pursuit of tax profession, the Taxation Institute of Hong Kong (“The Institute”) is organising the Career Development and Mentorship Programme (“the Programme”) since 2021.  The Programme consists of interviews, internship and mentorship opportunities offered by employers reviewed and approved by the Institute, which serves as a platform to connect industry professionals and aspiring young adults who would like to pursue a career in tax profession.

Last year, 17 Employers including 16 CPA firms and 1 commercial company (“the Employers”) and 58 students from five local universities signed up for the Programme.  The five universities are City University of Hong Kong, Lingnan University, The Chinese University of Hong Kong, The Hang Seng University of Hong Kong and The University of Hong Kong respectively.  35 students joined the interview sessions eventually and one-half of the students with outstanding performances were offered summer internships at the Employers.  Moreover, 27 students joined the mentor-mentee relationship with 14 tax practitioners from CPA firms and commercial companies.

Programme Timeline

Registration & Download

Download programme flyer:

Download programme guidelines:

Employer online registration: https://form.jotform.com/230447785120050

Download employer registration form:

Student online registration: https://form.jotform.com/230462753982058

Mentor online registration: https://alt.jotfor.ms/230822068665459

Enquiry for Career Development and Mentorship Programme 2023

Telephone: +852 2810 0438

Email: tihkadm@tihk.org.hk

(Organiser:  International Fiscal Association – Hong Kong Branch)

The event will look at how ESG can impact the tax morale of companies & the environmental tax measurements taken by governments, this all from an Asian perspective. Companies (including tax law/ advisory firms) face pressure to do it right (pay fair taxes/ be transparent on their tax (advisory) policies) from not only investors, the regulatory and society, but also from (their own) employees. How can they however reach this ESG tax goal (without losing from the competition)? How can small companies contribute to the ESG tax goal? And what are the role of governments in this (environmental taxes/ allowances) & whether governments should be made more accountability because of ESG ‘collected’ taxes?

Event Information:
Date: 1 March 2023 (Wednesday)
Time: 6:00pm to 7:00pm
Venue: Chatham Room, Conrad Hong Kong, Queensway 88, Admiralty
Panel Members:
-David Bradbury, Deputy Director of the Centre for Tax Policy and Administration, OECD
-Tom van der Lee, Finance Director for Sustainability, Commercial, Procurement and Support Functions, DFI Retail Group/ Jardine Matheson Holdings

Fee: $100 for each TIHK Member/ Student

For details and registration, please Click Here to visit the event page.

If you have any questions, please contact Mr Willem Jan Hoogland at registerinterest@ifahongkong.org.

The Institute held a press conference today (13 February 2023), introducing its proposals on the Government’s 2023/24 Budget.  For details of the proposals, please click here.

Please note TIHK Secretariat Office will be closed early at 5:30 pm on 09 February for 2023 Spring Cocktail Reception cum CTA Exam Award Presentation.

The Taxation Institute of Hong Kong (“the Institute”) and the CityU School of Continuing and Professional Education (“SCOPE”) have jointly offered the Professional Diploma in Tax Advisory. While the 2023 intake of the Programme has already commenced in mid-January 2023, SCOPE now offers an option for people who wish to take a specific module course instead of completing the full programme. The application deadline for module courses is 14 February 2023 (Tuesday).

International Tax Advisory (Flyer: )

The CPD course in International Tax Advisory enables students to understand why international double taxation typically arises and how it could be avoided. It aims to develop participants’ technical competencies in providing advisory services in international tax planning. Upon completion of this course, students should be able to identify common types of anti-avoidance provisions designed to counter specified forms of international tax planning and to communicate tax planning issues effectively in writing and verbally.

PRC Tax Advisory (Flyer: )

隨著中國經濟發展的迅速增長，港人與內地的聯繫越趨緊密。本課程專為從事內地業務或對中國稅有興趣的人士而設，透過70小時的課節講解及案例分析，讓學員全面了解中國稅法的制定和實施，使其在工作及個人發展上更具實力及優勢。

Online application: www.scope.edu/eapp/pdta

Website: www.scope.edu/ 

Enquiries: bm@scope.edu or 3442 7013 / 3442 7423