Dear Fellow Members,

Year 2017 marks another milestone for the Institute as it celebrates its 45th anniversary. Ever since its inception nearly half a century ago, the Institute has been committed to promoting tax professionalism in Hong Kong and serving as a strong linkage between members.

The business environment is changing rapidly. There is no doubt that tax practice requires making certain adjustments to address the upcoming challenges. Looking around the world, plenty of opportunities await the profession and we should grasp the chance to accelerate growth of the industry.

Earlier this year, a plan to develop the “Guangdong-Hong Kong-Macau Greater Bay Area” was announced by the Chinese Government. With substantial amount of investments put into the project and the construction of new infrastructure, we can see a booming prospect for doing business in Hong Kong. By 2030, the area is expected to have the highest GDP among all bay areas worldwide, and become an advanced manufacturing centre as well as an important global hub of innovation, finance, shipping and trade. The Institute is poised to leverage our expertise to create a platform for its members to make good use of this huge opportunity. In November, the Institute will hold a business summit to gather professionals in the field to share thoughts and experience. You are all welcomed to attend the event to witness the advancement of the regions and get to know more about the latest development trend.

Changes in international tax policy continue to make an impact and pose a challenge to taxpayers as well. Business owners nowadays need to understand the tax policies of the countries in which their businesses operate, and with which they do trade. While the global tax policy becomes more complicated, it certainly also provides an occasion for our local tax practitioners to get further involved by utilizing their specialty and expertise. The Institute will continue serving as a think tank for knowledge exchange amongst members, and reviewing the tax legislations in Hong Kong so as to cater to the global needs.

To ensure Hong Kong maintains its status as an outstanding international financial hub amid the changing dynamics of the economy, the Institute aims to elevate the standard of professionals in the field of taxation practice through various channels. Education will continue to be one of the Institute’s key focuses. We hope to nurture the new generation by encouraging more young people to join our membership. As such, our Young Member Committee (YMC) will pursue to engage our young group. This group of committee members will keep working closely with other committees to promote our services to college students and young practitioners.

Celebrating the 45th year of the Institute, a series of activities will be organized in due course. I am honoured and pleased to have the opportunity to serve as the new President of the Council. I hope you will render your support to help sustain the growth of the Institute in the coming future.

Yours sincerely,
Bryan Chan
President 2017/2018