TIHK News

News
Extension of the loss case filing deadline under M-code

In view of the recent suspension of services of the Inland Revenue Department (IRD) and the outbreak of novel coronavirus, the Institute has earlier proposed to the IRD to extend the loss case filing deadline under M-code to 28 February 2020.

The IRD has agreed that for tax representatives that have submitted extension requests for 2018/19 loss cases in accordance with the IRD’s Block Extension Letter dated 11 March 2019, the due date for those M-code cases will be further extended to 28 February 2020. This further extension is granted subject to the condition that the Profits Tax return to be lodged shall show an allowable loss.

The Institute thanks the IRD for their understanding in this difficult time.

Cancellation of 2020 Spring Cocktail Reception on 5 Feb 2020

In view of the current outbreak of coronavirus, the Institute has decided to CANCEL the 2020 Spring Cocktail Reception on 5 February 2020 (next Wednesday) at the Chinese Club. We sincerely apologize for any inconvenience caused.

Continuing Professional Development Courses Offered by CityU SCOPE

 Continuing Professional Development Courses

(Offered by CityU SCOPE)

 

International Tax Advisory 

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.

 

中國稅 (PRC Tax Advisory) 

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,讓學員全面瞭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。

 

Course Details 

 

International Tax Advisory

PRC Tax Advisory

Contact Hours:

52 Hours

70 Hours

Course Period:

18 March to 16 May 2020

3 June to 12 August 2020

Time:

Wednesday evening & Saturday afternoon

Venue:

CityU SCOPE Learning Centres

Language:

Cantonese (with English handout)

Tuition Fee:

HK$7,280

(20% discount for alumni of SCOPE of City University of Hong Kong, or City University of Hong Kong, i.e. HK$5,824)

HK$9,800

(20% discount for alumni of SCOPE of City University of Hong Kong, or City University of Hong Kong, i.e. HK$7,840)

Enquiry:

3442 7408 (Emailcepoon@cityu.edu.hk)

Website:

www.cityu.edu.hk/ce/pdta

For more details of the course, please refer to the attached leaflet or visit the website.

CityU-SCOPE-CPD-Courses-2020
Important Announcement on Tonight’s Seminar (Charitable Organisations – IRD’s Updated Tax Guide & Latest Practice)

In view of the latest development, the seminar “Charitable Organisations – IRD’s Updated Tax Guide & Latest Practice” originally scheduled to be held tonight will be POSTPONED and re-scheduled.
Please take note of the postponement and accept our sincere apology. Thank you.

2019 CTA Examination enrollment until 13 September, noon

    The 2019 CTA Qualifying Examination will be held from 23 to 25 October 2019:

    Paper

    Date

    Time

    Paper 1

    Accounting & Finance

    23 October 2019 (Wed)

    2:00 p.m. – 5:00 p.m.

    Paper 2
    Hong Kong Tax

    24 October 2019 (Thu)

    9:00 a.m. – 12:00 noon

    Paper 4
    PRC Tax (
    中國稅法)

    24 October 2019 (Thu)

    2:00 p.m. – 5:00 p.m.

    Paper 3
    International Tax

    25 October 2019 (Fri)

    9:00 a.m. – 12:00 noon

    Paper 5
    Advanced Taxation Practice

    25 October 2019 (Fri)

    2:00 p.m. – 5:00 p.m.

     

    Please click here for online enrollment.  Enrollment for 2019 CTA Examination is open from 14 June to 12:00 noon, 13 September 2019.

    If you wish to apply for exemption from the CTA Examination, please complete the enrollment form and return, together with any relevant supporting document(s), to the TIHK Secretariat by post or email (tihkadm@tihk.org.hk) before the enrollment deadline.

2019-CTA-Exam-Enrollment-Form
(Supporting Organization): LexisNexis Tax CPD Course-Tax Law & Practice in Hong Kong and PRC
Programme Code : 20190918
Event Date : 18 September 2019 (Wednesday)
Time : 2:30 pm – 5:45 pm
Venue : LexisNexis Hong Kong, 11/F Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong View google map
Speakers : Mr Jonathan Chang, Ms Eva Leung, Mr Peng Tao
Language : English
CPD Credit : 3 hrs
Proficiency Level : Intermediate
Fee : HK $ 2,250 for Non-member
HK $ 1,575 for Early Bird Discount by 13 Sept 2019
Description:

Speaker Profile Content :
Mr. Jonathan Chang, Barrister-at-law from Temple Chambers
Ms. Eva Leung, Barrister-at-law from Des Voeux Chambers
Mr. Peng Tao, Partner from DLA Piper
Remark:

Please visit here to sign up for the course

LexisNexis_TaxCPDCourse_Flyer -Final
The 47th Annual General Meeting

The Institute’s 47th Annual General Meeting (AGM) will be held as follows:

Date: 30 August 2019 (Friday)
Time: 5:30 p.m. (Registration starts at 5 pm)
Venue: The Chinese Club, 14th Floor, 21-22 Connaught Road Central, Hong Kong

The notice of the 47th AGM is attached.  A Dinner Gathering will also be held after the AGM, from 7 pm to 9 pm at the same venue.  For online enrollment, please click here.

TIHK-47th-AGM-Notice-v2
Notice of an Election of Eight Members to the Council

Nominations are now being sought for an Election of Eight Members to the Council (“the Election”).  All duly completed nomination forms must reach the Secretariat by 5:30 p.m., 31 July 2019 (Wednesday).  Late submission will not be accepted.

Please refer to the attached notice for the detailed election schedule.

TIHK Notice of an Election of Eight Members to the Council_18July2019
Professional Indemnity Insurance for CTAs

Starting from 1 January 2020, all Certified Tax Advisers (CTA) who are in public practice are required to be covered by Professional Indemnity Insurance (PII), unless they are exempt because their liabilities have already been covered by PII obtained in their other professional capacity.  Employees who hold themselves out as a CTA and provide taxation services should be covered by their firm’s PII.

The Institute has negotiated a master policy for members which is administered by the sole insurance broker, AMTD, and is underwritten by Chubb.  Representatives from the two companies will introduce the master policy to members at the coming information session to be held on 9 July 2019 (Tuesday).  The first 34 members to enroll in the PII master policy, which will be effective from 1 October 2019, will enjoy an early bird discount of HK$900 offered by the Institute.  The deadline for early-bird enrollment is 31 August 2019.

Members are advised to read through the FAQ on PII requirements and the quotation from AMTD and Chubb at www.tihk.org.hk/professional-indemnity-insurance/ (member’s log-in requried) 

Please note that PII cover may be effected with any reputable insurance company or underwriter through any reputable insurance broker.  Members should be aware that the Institute cannot recommend that members take out a particular PII scheme.

Policy on Re-admission to Membership and Regaining of CTA Designation

Please note the following policy on re-admission to membership and regaining of CTA designation approved by the Council in June 2019:

 

Re-admission to Membership

Fellow,

Associate,

Retired Member

Re-joining the Institute after three years of ceasing to be a member

Pay a re-admission fee equivalent to 2-years’ annual subscription,and annual subscription for the year of re-admission

Re-joining the Institute within three years of ceasing to be a member

Pay a re-admission fee equivalent to annual subscriptions for the lapsed years of membership,and annual subscription for the year of re-admission

Student

Re-joining the Institute after three years of ceasing to be a Student

Pay a re-admission fee equivalent to 2-years’ annual registration fee,and annual registration fee for the year of re-admission

Re-joining the Institute within three years of ceasing to be a Student

Pay a re-admission fee equivalent to annual registration fees for the lapsed years of student membership,and annual registration fee for the year of re-admission

Regaining of CTA Designation

CTA designation

Obtained under the “Grandfather Scheme” in 2010

Take the CTA Qualifying Examination

Obtained through completing the CTA Qualifying Examination

Pay the annual subscriptions and CTA registration fees for all lapsed years of membership

Important Notes:

1.   The re-admission fee to be paid will be calculated based on the prevailing full rates of annual subscription in the year of re-admission.

2.  All re-admitted members are required to comply with the Institute’s Code of Professional Conduct, which can be accessed from www.tihk.org.hk/code-of-professional-conduct/.

 

While the above policy shall take effect from 1 July 2019, there would be a grace period (from 18 June 2019 until 30 August 2019) for those who have obtained the CTA designation under the “Grandfather Scheme” in 2010 (“Grandfathered CTAs”) to re-join the Institute and regain the CTA designation by paying the annual subscriptions and CTA registration fees for all lapsed years of membership.  Please note this is a one-time-only concession.  Starting from 31 August 2019, all Grandfathered CTAs whose membership has ceased will have to take the CTA Qualifying Examination in order to regain the CTA designation.

TIHK Notice of an Election of Eight Members to the Council_18July2019