Issue no. 737 (18 April 2019)
  Dear members/member practices,  
  Hong Kong welcomes GAA tax directors  

This week, the Institute welcomed members of the Global Accounting Alliance Tax Directors Group to Hong Kong for two days of meetings with representatives from Hong Kong's accounting profession and government. They discussed topics including local tax policy and administration, including transfer pricing, the development of the Belt and Road and the Greater Bay Area initiatives, and the new Mainland individual income tax regime. On Monday night, three of the directors also gave a seminar on the United States tax reforms and Brexit.


Workshops for Listing on HKEX (Part 1): Session 1 & 2

The workshops on 27 April will discuss the basic methods of listing, the financial and other principal requirements for listing on the Hong Kong Stock Exchange and examine how to evaluate and assess the nature of business for a listing applicant.

Executive programme for accountants: Risk management
Join the executive programme for accountants workshops jointly organized by the Institute and the Hong Kong Institute of Directors in May to understand more about the roles and responsibilities, and best practices of independent non-executive directors for their current or future roles, as well as related legal and regulatory updates.

Insolvency preparatory I
The Institute's popular insolvency preparatory I course, which focuses on building an understanding of the basic principles of insolvency administration, will begin in May. Sign up for the introductory course by 25 April to obtain the preparatory knowledge needed to pursue a career in insolvency and related areas.

Accountants, WeCare
Join the WeCare stress management sessions in May to learn about the causes and effects of stress and how it may be better managed to enhance your own well-being and performance.

Taxation on digital services
At the seminar on 9 May, the speakers will share their insights and updates on the latest developments on digital service taxation. Discussions will cover recent developments in the European Union and the United States, and the transfer pricing arrangements and proposals by the Organization for Economic Cooperation and Development.

Securing your jobs against artificial intelligence
Join the seminar on 9 May to gain insights on how to develop new leadership and management capabilities, and how to achieve a strategic partnership with artificial intelligence for career success in the digital economy.

Corporate finance series
Enrol in the workshops of corporate finance series from May to June to acquire knowledge about corporate finance including the key financial decisions faced by organizations, the applications and practical issues in corporate financial management and their implications for accountants.

The impacts of the Greater Bay Area development on accounting profession
At the seminar on 20 May jointly organized by the Institute's Mainland Business Interest Group and the Financial & Accounting Affairs Steering Committee of the Hong Kong Chinese Enterprises Association, the speakers will share their insights on the challenges and business opportunities and relevant government policies of the GBA initiatives illustrated with case studies and provide an overview of the Mainland China individual income tax regime.

Enrol in the seminar on 3 May to gain knowledge about why valuation of new economy businesses can be difficult and the common valuation approaches available with real world examples.

Good MPF Employer Award 2018-2019
The Good MPF Employer Award 2018-2019 organized by the Mandatory Provident Fund Schemes Authority, is now open for application. Interested employers can submit online applications by 30 June.

Don't miss the post-marathon drinks on 29 April for all CPA/QP runners to share your excitement and running experience from this year's marathon.

IASB's April Investor Update

The IASB April 2019 Investor Update is now available.

Podcast on IFRS 17

The 10-minute podcast on two April meetings on IFRS 17 Insurance Contracts is now available.

DIPN 5 (Revised) and DIPN 55

The Inland Revenue Department (IRD) has updated the Departmental Interpretation and Practice Notes No. 5 (Revised). The IRD also issued the Departmental Interpretation and Practice Notes No. 55 to explain how a taxpayer can be entitled to the 100% tax deduction or enhanced tax deduction for research and development expenditure.

AML notice – United Nations sanctions

The following United Nations sanctions were published on 16 April:

Updated list of individuals and entities pursuant to the section 25 of the United Nations Sanctions (ISIL and Al-Qaida) Regulation (Cap. 537CB)

Gazettal of Terrorists and Terrorist Associates under United Nations (Anti-terrorism Measures) Ordinance (Cap. 575). There is a removal of one entry from the ISIL (Da’esh) and Al-Qaida Sanctions List. For details, please refer to the press release issued by the United Nations Security Council Committees.

For further information, visit the Institute's dedicated webpage.

Table tennis team league 2019

Congratulations to Tony Cheung, Hui Chi Kwai, Kelvin Lam and Eric Shum who won the table tennis team league which concluded on 14 April. Daphne Chan, Tony Cheung, Hui Chi Kwai and Kenneth Lam also won individual champion awards. Click to see full results and photos.

Swimming classes

Enrol in the swimming classes to improve your techniques at the Victoria Park Swimming Pool every Tuesday and Thursday between May and July.

Golf activities

Come join the upcoming golf activities:

Golf day at Phoenix Hill Golf Club on 25 May to tee off with your fellow members

Advanced short game training at Kau Sai Chau Public Golf Course on 16 June to improve your skills with golf professional


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