Lau Chung Yee,  2023 CTA Graduate, 

Highest Scorer in 2023 CTA Exam Paper 5 – Advanced Taxation Practice

I am delighted to be given this opportunity to share my experience preparing for the 2023 CTA Examination, which has been challenging yet extremely rewarding.

I am a Hong Kong qualified solicitor working on corporate commercial matters in an international firm. With no structured education in tax, I enrolled in Professional Diploma in Tax Advisory jointly organised by the TIHK and City U Scope, which has helped me build a solid foundation in the fundamental tax knowledge and various issues that I had to tackle during the CTA Examination.

I am sure everyone who attempted the CTA Examination would agree that the most difficult paper is Paper 5 “Advanced Taxation Practice”. Candidates are required to analyse, under time pressure, various problem scenarios covering Hong Kong, PRC and cross border tax issues and then put down structured responses. A clear step-by-step answer structure is the key to succeed in Paper 5, which Candidates can prepare and rehearse using the past papers on TIHK’s website. Also, Candidates are recommended to allocate the 3-hour exam time proportional to the marks of each question, adhere to the time allocation during the real exam and practise writing fast with a pen!

The evolving tax landscape in Hong Kong now presents new challenges and opportunities. Passing the CTA Examination boosts my technical knowledge and confidence to render more comprehensive tax advice to clients.

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Li Man Chun,  2023 CTA Graduate, 

Highest Scorer in 2023 CTA Exam Paper 4 – PRC Tax

Taking the CTA Examination is undoubtedly a fruitful journey for me. It has equipped me with up-to-date knowledge on Hong Kong tax, PRC tax, and international tax, and provided me with a widely recognized professional qualification for further career advancement.

The most difficult part of the CTA Examination is that candidates are expected to analyze case studies from different perspectives, just like a professional tax advisor. To do that, candidates need to have a good understanding of tax law, pinpoint the tax issues in case studies, and conduct the corresponding tax analysis.

For future candidates, I would suggest to keep yourself updated on the latest tax developments in Hong Kong, the PRC, and the international landscape, as more and more new tax regulations have been in place recently and more are under discussion. It is important to always learn about these new tax developments, not just for the CTA Examination, but also for professional development.

To excel in the CTA Examination, time management is the key, i.e. to utilize the spare time to study the examination materials, and to allocate time to each question to get the most within the limited time.

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Lam Hon Hon, 2023 CTA Graduate

Taking the CTA Exam was a challenging yet rewarding experience. The comprehensive nature of the Exam provided me a holistic understanding of the tax landscape, making it an enriching learning experience.

The most challenging part of the Exam would be the depth of knowledge required and the time constraints which force us to analyse quickly and accurately.  I find Paper 3 International Tax is the most difficult as I am relatively less exposed to this topic at daily work.

Obtaining the CTA designation has opened up new opportunities for my professional growth. It allows me to stand out in a competitive job market.  I hope being one of the CTA members would further expand my professional network.

Here are some tips for the future candidates: Devise a study plan to allow sufficient time to familiar with the syllabus; Practise with past papers to understand the exam format; Keep abreast of the recent tax updates such as Hong Kong FSIE and BEPS 2.0; Manage stress and stay confident.

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Poon Tsz Ching, Highest Scorer in 2023 CTA Exam Paper 2 – Hong Kong Tax

I am delighted to share my experience of achieving the highest mark in Paper 2- Hong Kong Tax in the CTA Qualifying Examination in 2023. The Examination provided a challenging yet rewarding experience. It tested my comprehensive understanding of Hong Kong tax laws, regulations, and practical applications.

Being a tax professional previous working in Ernst & Young for past few years and recently shifted to commercial field, this accomplishment holds tremendous value for my future professional development. The CTA designation is recognized as a symbol of excellence and expertise in the field of taxation. It not only enhances my professional credibility but also provides me with a competitive edge in the job market.

For aspiring CTA candidates, I recommend keeping up with the latest developments in Hong Kong tax laws and regulations as well as engaging in past exam paper to get familiar with the examination format.

In closing, I extend my heartfelt appreciation to the Tencent Charity Foundation for their generous recognition and support through the Tencent CTA Award. This accolade serves as a testament to the foundation’s commitment to promoting professional excellence. I also encourage aspiring candidates to embark on this rewarding journey, confident that the Chartered Tax Advisor designation will open doors to new opportunities and enhance their careers in the field of taxation!

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Kwong Sum Yue, Highest Scorer in 2023 CTA Exam Paper 3 – International Tax

It is a great honor to have this opportunity to share my experience in taking Paper 3 of the CTA Examination.

The certification of Certified Tax Advisers provides a recognition for your specialized knowledge and is also helpful for future career development. The technical expertise in international tax not only helps me to pass the Examination, but also provides a solid foundation when I advise clients on the tax implications of their business decisions.

Taking the Examination requires an investment of time. To better prepare for the Examination, I made a study schedule in advance to ensure I had sufficient time to cover the entire syllabus. I have read the recommended textbook and one of the reference books to gain a thorough understanding of the subject. To study with high efficiency, you need to set aside time that you could be undistracted.

I have taken tutorial classes to consolidate my knowledge and master effective problem-solving skills and exam-taking strategies. Then I sharpened my exam skills by practicing with past papers.

The outbreak of COVID-19 and the advance of technology ramped up the development of e-commerce. The tax policies are rapidly changing to tackle the problem on where the profit is sourced and how the tax is assessed. The most difficult part of the Examination is to keep up with the latest tax policies with which we are not familiar. As a tax professional, we need to stay alert of the changes by browsing the website and reading the newsletter of TIHK.

Hope my sharing is inspiring for those interested in taking the Examination.

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Chan Yin Lam, 2022 CTA Graduate

After taking course in CITYUSCOPE for preparing CTA exam, I learnt a lot of new things like PRC tax and international tax planning. Passing CTA exam helps me a lot in my career as many companies have operation with/in China. Knowing PRC tax and tax planning would definitely help you better perform in accounting field.

The most difficult thing is paper 5. You have to answer around 12 pages in your answer sheet within 3 hours. That means you only have 15 mins to write a full page. You also need to spare time to read the questions which is around 6 to 8 pages long. So time management in exam is very important.

For preparatory advice, doing past paper and familiar yourself with PRC tax is important for both paper 4 and 5 as paper 4 and 5 are quite related with each other.

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Wong Ka Chun, Jasper, 2022 CTA Graduate

It’s my pleasure to complete the CTA Examination and be invited to share my experience. Overall, it’s a challenging yet rewarding experience.

Especially, one of the papers I took in 2022 Examination, Paper 4 – PRC Tax, was an area which I don’t have much hands-on experience throughout my career path. In order to better prepare for Paper 4 Examination, I joined the revision course coordinated by TIHK and Kaplan. The intensive course helped me revisit various topics under PRC Tax and strengthen my understanding on the key concepts. Thankfully, I got a pass!

In addition to the revision course, I also studied all the past papers when preparing for Paper 4 and Paper 5 (Advanced Taxation Practice) Examinations. Personally I think that it really helped me a lot!

The CTA Examination allows me to be better equipped in handling real-life tax issues, providing technical and practical solutions. Such an experience would definitely be beneficial for my future career growth.
And I wish you would also enjoy this wonderful journey!

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Pun Cheuk Nga, Janice, 2022 CTA Graduate

Taking the CTA Examination has been a challenging yet rewarding experience. The most difficult part has been finding dedicated study time outside of work due to the demanding nature of Big 4 accounting firm. Balancing work responsibilities while allocating sufficient time for comprehensive exam preparation requires strong time management skills and discipline.

However, the experience has been highly valuable in enhancing my tax expertise and laying a solid foundation for my career as a tax advisor. Achieving the CTA designation holds significant benefits, including increased career opportunities, recognition of expertise, and a competitive edge in the job market.

To succeed in the examination, future candidates should start early, create a well-structured study plan, leverage available resources, attend courses. Prioritizing study time and remaining dedicated to the learning process would be the key to achieving success in the CTA Examination.

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Angus Chan, Highest Scorer in 2022 CTA Exam Paper 2 – Hong Kong Tax

My name is Angus Chan, recipient of the Tencent Award for achievement of the highest score in Paper 2 – Hong Kong Tax in 2022 and I am writing to share my experience with the exam.

Overall, Paper 2 was challenging yet rewarding. The exam itself covers a broad range of topics and significant time was spent not only on studying the tax laws outlined in the sections of the IRO and SDO but also in how these laws interact and synergize in order to determine the full and proper tax treatment for individuals and corporations. Nevertheless, the knowledge I gained from the exam was practical and highly relevant to both personal and career application.

Furthermore, Paper 2 brings to light that the application of Hong Kong tax laws is not always as clear-cut as it initially seems. Various sections of the IRO and SDO may overlap and intersect on the same topic thereby creating complex tax scenarios. Consequently, being equipped with the proper required knowledge to exercise expert judgment is essential and one of the most valuable outcomes of the CTA Examination. I believe the CTA is not merely a pathway to a reputable designation but also a true and effective measure of one’s knowledge and aptitude in practical application.

My advice for future candidates is to interpret and thoroughly understand the rationale and reasoning of the IRD when studying HK tax laws rather than treating it as a mere memorization exercise. This will allow for greater retention of conceptual knowledge on exam day and beyond. Best of luck to you all.

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Lee Ka Hang, Thomas, Highest Scorer in 2022 CTA Exam Paper 3 – International Tax

I am delighted to share my experience of undertaking the CTA exam.

As tax professionals, particularly in the evolving AI era, our inherent value lies in the astute application of our professional knowledge to provide real-world solutions to complex problems. The CTA exam aptly echoes these dynamic demands and is designed to evaluate one’s ability to analyze and comprehend factual patterns of cases, enabling one to provide bespoke analysis that went beyond reciting laws from textbooks.

To excel in the examination, I approached it as a taxation professional rather than a student and viewed the questions as if they were from my clients seeking consultation. My advice to future candidates is to remain committed to an effective study routine, build a robust network of peers and mentors, stay up-to-date with changes in international tax law and follow industry news and commentary from leading experts.
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Fanny Ng, 2021 CTA Graduate

I am currently working as a tax manager in a professional firm in the UK. Before moving to the UK, I was a senior tax manager in one of the Big 4 firms in Hong Kong. The CTA designation has given my current employer confidence in my technical skills and knowledge to be a trusted tax adviser.

Achieving the CTA qualification has been valuable in consolidating my existing knowledge and strengthening my technical knowledge in areas that I have not often come across. It has made me a more well-rounded tax adviser.

I think the most difficult part of undertaking the qualification while working and taking care of my newborn is time management. Therefore, setting up a clear timetable for study is crucial. While weekdays were usually fully occupied with work and childcare, I typically spent one full day of my weekend studying for the examination.

My advice to future candidates of the CTA examination is to understand the principles of the tax legislation thoroughly and do a lot of past papers. The purpose of doing past papers is not to memorise the model answers, but learn how to spot the tax issues in each scenario and apply the relevant tax rules to each case.

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Yanmi Kwong, 2021 CTA Graduate

Taking the CTA Examination has been a rewarding experience. I have a more in-depth and thorough understanding on Hong Kong tax, PRC tax as well as international tax framework. Other than the understanding of theoretical concepts and the latest development in the industry, the CTA Examination also focuses on the application of tax knowledge through case studies. These knowledge and skills acquired in the CTA Examination are helpful in my real life work as I learnt to analyse each case from a holistic view and come up with feasible and practical tax advice.

Preparing for the CTA Examination while working full time was not an easy task, especially since it is a closed-book exam. Students are suggested to make their own notes/mind maps and find out the linkage between different concepts. These could definitely help you integrate the knowledge and have a clearer picture on the various examinable topics.

The CTA designation is recognised and respected internationally as a mark of technical excellence and professional integrity. It indeed is an asset for my career development and progression. Thanks the TIHK for organising the CTA Examination.

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David Lo, 2021 CTA Graduate

I took the Chartered Tax Adviser (CTA) qualifying examination, including Paper 3 (International Tax), Paper 4 (PRC Tax) and Paper 5 (Advanced Taxation Practice), in October 2021. It is my great pleasure to pass all the examinations and obtain a good result in Paper 4.

The examination scope of each paper is quite broad. Therefore, it is necessary to start the preparation for the examinations earlier, in particular if you have a full-time job.

Since I am not very familiarized with the PRC tax, I took a relevant intensive revision course, which was organized by the Taxation Institute together with another institute. I am glad that this course greatly helps me understand the PRC tax and equips me with the important skills for the examination.

Furthermore, it appears that more and more exam questions involve case studies. It is critical to identify and analyse the tax issues involved and apply the relevant tax knowledge well to the tax cases.

Last but not least, it is important to manage and control your time well during the examination. It is better not to spend too much time on answering a particular question.

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Ken Lee, Highest Scorer in 2021 CTA Examination Paper 2 Hong Kong Tax

I am honored to have this opportunity to share my experiences in CTA Examination.

During the Examination, you must be as relaxed and calm as if you were practicing. There are some tax regulations with less exposure. Try to practice time management in doing past papers. The most difficult part of the Paper 2 Examination is that we have less exposure to some newly established Hong Kong tax laws and regulations, such as voluntary health insurance and annuities. We can learn more and better understand Hong Kong taxation through the exam. Some tax cases and tax laws can benefit us and awareness of learned from daily life.

As a professional, the CTA designation will further enable me to take a step forward in my future career development. What I have learned in CTA can be put to good use in work. Moreover, the tax knowledge covered by the Tax Institute is extensive and diverse, although Hong Kong tax is only part of it. Compared with overseas taxation, Hong Kong taxation is more practical to the students who plan to work in Hong Kong in the future. It is also helpful for future career development.

I would advise the candidate do well prepare in the Examination and make good use of the past papers that are provided by the official website. Pay attention to the development of taxation policies and better understand taxation regulations.

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Jasper Wong, Highest Scorer in 2021 CTA Examination Paper 3 International Tax

It’s my pleasure to be invited to share my experience in taking the CTA Examination – Paper 3.

As tax advisers, we can’t simply memorise and recite tax laws and guidelines when providing analysis. Instead, we have to digest the specific fact pattern and circumstances of the cases, identify tax issues involved, apply relevant tax laws, and provide technical and practical solutions taking into account other relevant commercial considerations. In this regard, the CTA Examination mirrors the challenges we face in our daily work and allows us to be better equipped in handling real-life situation. For me, taking the Examination was definitely a challenging yet rewarding experience where I was able to achieve remarkable personal growth and development!

In terms of some practical tips for the CTA Examination, personally I think that two points could be crucial, namely doing past papers and carefully selecting and attempting questions with which you are more familiar and confident. Tell you what – I plan to use the same strategy when taking Paper 4 and Paper 5 Examinations in the coming diet!

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Tracy Pu, 2020 CTA Graduate

Studying CTA has been a great experience which equip me with the solid and well rounded tax knowledge that is very helpful in tackling the issues in practical work. The syllabus is global focused which compass International tax, Hong Kong tax and PRC tax alike. The tax professional today has diverse background, and is expected to be increasingly mobile and with an understanding of more than one taxation system an keep abreast of the latest developments.

It is challenging when study CTA while working full time in terms of the time and pressure management, I successfully navigated this process by creating my own study plan and stick to it as much as possible, if you don’t plan your time, you’re unlikely to get everything done that you need to. Be persistent, hard working and passionate about what you are doing is the key to the success.

The CTA qualification is held in high regard by employers and clients undoubtedly contributes to career progression. The examinations are up to date and based on cover the trends and what are now important areas in different tax systems. It is a challenging and rigorous qualification but I find it is rewardable for my career and my employer.

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Ben Chong, 2020 CTA Graduate

As a manager specializing in Hong Kong corporate tax services, I advise clients on various tax issues in my daily work.

The CTA Examination has helped me to keep abreast of latest tax developments in Hong Kong, the PRC and the world.  This is important for tax professionals in Hong Kong because the Hong Kong tax landscape has been changing significantly in recent years, and many of these changes were / are to be implemented in view of the international tax developments.  Such changes include, among others, the removal of ring-fencing features from the preferential tax regimes in Hong Kong, the codification of transfer pricing rules into the Hong Kong tax legislation and the introduction of the three-tiered transfer pricing documentation requirements as promulgated by the OECD in its BEPS Project.  The CTA Examination has equipped me with the latest Hong Kong, PRC and international tax knowledge that enables me to develop solutions to maintain / enhance tax efficiency and mitigate current and future tax compliance risks.

Overall, taking the CTA Examination has been a rewarding experience to me.  It was however challenging as well, given the wide coverage of examinable topics.  Self-discipline is therefore crucial in the preparation for the CTA Examination.  My advice to future candidates is that they should create and follow a study plan that allows sufficient time to cover each of the examinable topics.  Studying past examination papers could be useful; but candidates also need to be aware of the new tax legislations / developments, which are likely to be examined in the CTA Examination.

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Sam Chan, 2020 CTA Graduate

With the fast-changing taxation environment in recent years and growing complicated business structures, a Chartered Tax Adviser (“CTA”) equipped with integrated and comprehensive taxation knowledge is highly welcomed.

From theoretical analysis to practical tax planning, including but not limited to Hong Kong taxation and PRC taxation framework, the Certified Tax Adviser Qualifying Examination (has been renamed as “Chartered Tax Adviser (CTA) Qualifying Examinaiton in 2021, “the Examination”) definitely helps the candidates to gain all-round taxation knowledge. Through preparing for the Examination, my understanding on Hong Kong tax, PRC tax and international tax knowledge has been enhanced and integrated well. I believe what contributes to my success in the Examination is my endeavor in understanding and analysis on the similarities and differences of the taxation frameworks and trying to apply taxation concepts into one case study question by making reference to the tax ordinance, regulation and interpretation papers.

Being an Examination graduate and an in-house tax accountant, my suggestion to the future candidates is to spend time in understanding the essential of the conditions and criteria of different preferential tax regimes.

Last but not least, I would also like to take this opportunity to thank the TIHK staff organising the Examination during this difficult time.

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Caroline Chan, 2020 CTA Graduate

I am a qualified solicitor in Hong Kong and also a Chartered Secretary and Chartered Governance Professional of HKICS. I am currently in-house legal counsel and Senior Vice President of Fubon Bank (Hong Kong) Limited. My job duties mainly relate to provision of legal advisory services to user units within the Bank and to liaise and co-ordinate with the relevant business units, Company Secretary and Compliance in respect of both contentious and non-contentious matters and projects, including corporate and compliance issues from time to time.

Due to my job exposure, I am interested and had taken the professional diploma program in taxation with the City University of Hong Kong and sit for the CTA Qualifying Examination thereafter. I consider that the final paper of Advance Taxation Practice (P5) is the most difficult part of the examination. I spent almost a year on reading and digesting the information and materials in the Hong Kong Taxation and International Taxation textbooks as recommended by TIHK for preparation of the examination. I am glad to be granted the CTA designation as a Chartered Tax Adviser in 2021 which will certainly be helpful for my future career development as taxation is an important area in banking and business fields nowadays.

As a graduate of CTA, I would recommend future candidates to read through all the textbooks recommended by TIHK which are useful for examination purpose and also beneficial for our practice as a CTA professional.

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Elaine Li, 2020 CTA Graduate

The scope of the CTA Examination (the “Examination”) covering Hong Kong tax, PRC tax as well as International tax, is in line with the trend of globalisation and that cross-boarding transactions become prevalent and double taxation issues come to the public’s concern.

The CTA Examination requires proficient and integrated application of different taxes. By studying and preparing for the Examination, I got improvement in my analytical skills on complicated tax issues, which benefits me a lot at work. Time management and keeping an eye on the latest changes are very critical to the Examination, especially for Paper 5 (Advanced Taxation Practice), the case study and questions are very close to the reality and requires candidates to perform relatively comprehensive analysis and evaluation on subject matters in a very short time.

The designation of CTA is definitely an asset for me, it means more opportunities under the dramatic changing environment brought by the global tax reform.

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Tommy Leung, Highest Scorer in 2020 CTA Examination Paper 2 Hong Kong Tax

Thanks for giving me the opportunities to have my sharing here. As a professional examination, Paper 2 of CTA Examination gives me an impression of tough studying experience. It is because this is a close-book examination to assess the understanding of the complicated taxation system and the ability to solve the realistic practical issue in the professional taxation consulting industry. Hence, in order to finish the Paper 2 examination, try to imagine yourself as a taxation professional rather than a student, you are consulting your client and those questions during the examination are all from your clients.

During my study, I discovered the description of specific topic in the textbook might be too narrow, and the taxation system is actually an integrated system with intercorrelated application of concepts.  Try to focus on the practical application and focus on the full picture, because the taxation principles might be complicated literally but easy to be applied to the reality scenario. Moreover, the reference of the Inland Revenue Ordinance is necessary and beneficial to the understanding of the HK Taxation system.

Application and practice are essential to comprehend the taxation principles, hence students should fully utilize the resources provided by the TIHK, i.e. the past papers.

I hope all the students enjoy the study of the Paper 2 Hong Kong Tax of CTA examination.