Issue no. 751 (25 July 2019)
  Dear members/member practices,  

Mainland China foreign exchange control issues relevant to complex cross-border transactions



The seminar on 23 Aug will cover legal compliance matters and relevant legal risks concerning Mainland China foreign exchange (forex) controls. The speaker will introduce cross-border business and transactions, discuss typical and hotspot forex compliance matters in cross-border transactions, and provide practical compliance advice concerning the latest developments in tax and the forex control regulatory regime.


Leading people through change: Transform business operational efficiency

Join the workshop on 29 Aug to improve your ability to understand, strategize, lead and support organizational change. The speaker will examine different elements that can transform business operation efficiency, and the techniques to improve change results and increase the overall chance of success.

Last call to join the seminar on 2 Aug for a practical discussion on the tax incentives / local support available in the three free trade zones of the Greater Bay Area.

Don't forget the FSIG lunch seminar on 8 Aug to gain insights on the investigative powers of regulators and practical issues on handling regulatory investigations.

Last chance to enrol in the workshop on 12 Aug to learn how to increase staff commitment to the organization.

Don't miss the seminar on 19 Aug to learn about the threats and proven best practices in IT security appropriate for small and medium practices and enterprises.

Join the MBIG evening seminar on 21 Aug to learn about the latest development and business models of the Mainland elderly care services industry.

Sign up for the CFIG evening seminar on 27 Aug to learn about Hong Kong initial public offering structures and GEM placing guideline.

Register for the case studies workshop on 31 Aug to understand dual and triple currency investment, target redemption note/forward, and term sheet analysis.

Integrity Cup Badminton Competition

Congratulations to the Institute's badminton team for winning the Integrity Cup Badminton Competition held on 19-21 July in Dongguan. The team also won three individual awards including men's singles, men's doubles and women's doubles. They competed with 26 other teams from across the Guangdong province, Macau and Hong Kong. Click to see photos.

Snooker League 2019 result

Congratulations to Cheng Hin Kwan, Freeman who won the championship at the Snooker League which ended on
21 July. Click to see full results and photos.


Don't miss the Sports and Recreation Night 2019 on
9 Aug at the Grand Stage to celebrate the achievements of our CPA sports stars, enjoy exciting games, performances and lucky draws.

Don't forget to enrol in the upcoming swimming classes at the Victoria Park Swimming Pool between August and October.

Join the table tennis doubles team league on 10 Aug to gain match experience.

Invitation to comment

The Institute is seeking comments on the IASB Exposure Draft ED/2019/5 Deferred Tax related to Assets and Liabilities arising from a Single Transaction. The proposed changes and reasons are explained by IASB in a short document: In Brief.

IFRS 9 webinar

The webinar summarizes the IFRS Interpretations Committee's discussion and explains the conclusion it reached on curing of a credit-impaired financial asset. It also covers application of the relevant requirements in International Financial Reporting Standards (IFRS) 9 Financial Instruments for amortized cost measurement and impairment. The slide deck is also available separately.

DIPN 28 (Revised), DIPN 58, DIPN 59 and DIPN 60

The Inland Revenue Department has issued the Departmental Interpretation and Practice Notes (DIPN) 28 (Revised) to set out the department’s interpretation and practice on the provisions relating to foreign tax deduction after the enactment of the Inland Revenue (Amendment) (No. 6) Ordinance 2018. DIPNs 58, 59 and 60 have also been issued to set out the interpretation and practice on the relevant rules and requirements, and the latest international standards relating to transfer pricing.

AML notice

Visit the Institute's anti-money laundering dedicated webpage for the updated lists of terrorists, terrorist associates and relevant persons/entities under United Nations sanctions.

The Hong Kong Masters Athletics Championships

The Hong Kong Masters Athletics Championships 2019 will be held on 16-17 Nov at Tseung Kwan O Sports Ground. Members can register for any of the track and field events by 20 Aug.


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