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Professional and Education Activities
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Annual Meetings with the Commissioner of Inland Revenue International and China Liaison |
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The Institute makes budget submission to the Financial Secretary every year, expressing the Institute's views on and making proposals to improve the existing taxation provisions. The proposals were widely reported in the media, including newspapers, television and radio stations. It is encouraging to see that many of the Institute's proposals have been adopted by the Government in the Annual Budgets over the years. The Institute was invited to be a member of the Joint Liaison Committee on Taxation ("JLCT") established to study, review and advise the Government on Hong Kong's taxation legislations and policies. The JLCT consists of six constituent members of Chambers of commerce and professional bodies in Hong Kong. Two members from the Council are appointed to represent the Institute to participate in JLCT's meetings, discussions and submissions of views and proposals on tax matters to the Government from time to time. Annual
Meetings with the Commissioner of Inland Revenue
The Institute has for many years held annual meetings with the Commissioner of Inland Revenue ("CIR"), serving as a bridge of communications between members of the Institute and the Inland Revenue Department. Members' views and ideas were sought prior to the meeting through questionnaires issued. The tax administrative concerns and difficulties encountered by members as tax practitioners and other tax related matters were brought up and proposed improvements were suggested at the meeting. In return, the Institute brought back to the attention of members messages from the Commissioner regarding various administrative matters which would improve tax administrative efficiency. Minutes of the meetings with the CIR were circulated to members. In the past, the Institute had successfully organized distance learning courses on PRC Taxation with the School of Professional and Continuing Education of the University of Hong Kong, the Guangdong Taxation Society and the Shenzhen Taxation Society. The Institute has also organized distance learning courses in elementary and intermediate Hong Kong Taxation since 1987 jointly with the Department of Accountancy of the (formerly, the Hong Kong Polytechnic). The course materials were produced and up-dated annually jointly by members of the Institute and the Hong Kong Polytechnic University. Up to now, 16 courses have been run for both stages and were well attended by over 4,000 persons in the community. International
and China Liaison The Institute joined the Asia-Oceania Tax Consultants' Association (AOTCA) in November 1994. AOTCA currently has thirteen constituent members of national or regional tax-related professional bodies in Asia-Oceania. A council member nominated by the Institute is a Vice-President of AOTCA and is representing the Institute at its Council Meeting to reflect the views of the Institute on various tax matters since 1995. The Institute also maintains active contacts through information exchange and joint seminars with the Chartered Institute of Taxation in the United Kingdom, the Taxation Institute of Australia and other professional bodies overseas. The Institute has established good professional relationship with various national and provincial tax bureaux of China since 1979. It hosted receptions and conferences for senior officials and delegates from the national and provincial tax bureaux, the Society of Taxation and other taxation bodies in China. The Institute has been invited and also organized delegations to visit Beijing, Guangzhou, Shenzhen and Shekou for seminars and conferences to exchange views on taxation issues. In the early years, the Institute issued to members from time to time at irregular intervals newsletters and articles on taxation topics contributed by members. It was until 1990, a regular quarterly bulletin, the "Taxation", was published for members. Besides issuing to members, the publication was also sent to tertiary institutions, public libraries, chambers of commerce and other professional bodies with an interest in taxation matters. After twenty-seven regular issues of the bulletin, the Institute was able to improve and upgrade the bulletin to a quarterly journal with the joint effort of the Department of Accountancy of the Hong Kong Polytechnic University. The new journal named "Asia-Pacific Journal of Taxation" was first issued in Spring 1997. Qualifying
Programme for Membership Since 1994, aspiring tax professionals who are not qualified accountants, lawyers or company secretaries can be admitted to the institute upon successful completion of the Institute's Qualifying Programme and fulfilling the Institute's requirements on academic standard, taxation experience and character. The Qualifying Programme comprises a 135 hour course on Hong Kong Taxation and 100 hour course on Advanced Taxation. The first course includes accounting, business law and Hong Kong taxation while the advanced course concentrates on PRC tax and domestic and international tax planning. The 1998/99 Hong Kong Tax course was completed in March 1999. The 1999/2000 Advanced Taxation course commenced in April 1999. Because of the high quality of course materials and the lecturers, who are experienced and highly regarded tax professionals, the courses have proven to be very popular among aspiring tax professionals. The Qualifying Programme is jointly organized by the Institute and the School of Continuing Education of the City University of Hong Kong. For further information relating to the programme, please visit the website address http://www.cityu.edu.hk/ce/. For the continuing professional development of members, the Institute organizes from time to time seminars for members and their guests on various taxation topics, particularly on current issues of tax amendments and tax appeal cases as well as upon visits of overseas tax experts to Hong Kong. Occasionally, seminars are held jointly with other professional bodies on taxation topics of common interest. The Institute is frequently invited by the Government to make submission of views, comments and proposals on tax legislation. The Tax Review Committee of the Institute discusses on the matters and submits views and comments to the Government upon issue of amendment bills to the various Ordinances concerning taxes and duties. Major submissions in recent years by the Institute include papers on old age pension scheme, taxation matters concerning motor cars, tax exemption in respect of non-resident investment activities and profits tax review. The Institute awards scholarships/prizes annually to students with the best examination results in taxation papers at six tertiary institutions, namely: Baptist University, City University of Hong Kong, Hong Kong Institute of Vocational Education (Chai Wan), Hong Kong Institute of Vocational Education (Tsing Yi). The Hong Kong Institute of Company Secretaries and The Hong Kong Polytechnic University. The Institute, through its educational trust fund, is pleased to support research studies and invites applications for grant from research institutions or groups of academics. |
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