FEATURES

Meeting the media

The Institute’s President Roy Leung hosted a luncheon, bringing together representatives from prominent media outlets to share the Institute’s key focuses this year.

Connect with us

Aimed to foster stronger connections between the Institute and its members, our Council and management engaged with nearly 40 members at the first networking lunch.

CA ANZ Visit

The Institute hosted Chartered Accountants Australia and New Zealand (CA ANZ) to share updates on both institutions and explore collaboration opportunities.

Seminar for senior secondary students

Partnering with the Education Bureau, the Institute organized a seminar for secondary school students, hosted by Council member Michael Chan.

Celebrating a decade of mentorship

The kick off ceremony for this year's Mentorship Programme was held on 13 April. The programme celebrates its remarkable 10th anniversary this year. Photo highlights inside.

“Rich Kid, Poor Kid” awarded IFEA

The Institute’s CSR programme, "Rich Kid, Poor Kid", was awarded the Investor and Financial Education Award (IFEA) 2023 (Public/ Professional Body and NGO).

COUNCIL MINUTES

Read the abridged minutes from March 2024 Council meeting.

INDUSTRY UPDATES

Electronic filing of 2023-24 Profits Tax

The Inland Revenue Department (IRD) issued 2023/24 profits tax returns to corporations and partnership businesses on 2 April 2024. This is the second year in which the IRD has implemented arrangements for the voluntary e-filing of profits tax returns, so that taxpayers can e-file the returns together with the supporting documents (including financial statements and tax computations) in iXBRL format, on a voluntary basis.

To facilitate taxpayers in preparing the required iXBRL data files, the IRD is providing the IRD Taxonomy Package (the Taxonomy) and the IRD iXBRL Data Preparation Tools (including the Template Tool and Tagging Tool, collectively known as “the Tools”), which are available to be downloaded from the IRD website, free of charge. The Taxonomy and the Tools have been updated and enhanced this year.

Taxpayers are encouraged to participate in the voluntary e-filing of profits tax returns. More details can be found on the IRD’s webpages on e-filing of profits tax returns and XBRL filing.

For enquiries in relation to the iXBRL filing requirements and the use of the Tools, you may contact the IRD, or access e-Appointment to book a specific timeslot to make enquiries via phone.

Learn more about the major enhanced features and benefits of e-filing in the letter to Tax Faculty members.

Electronic filing of Employer’s Return

The IRD encourages taxpayers to consider filing their tax returns through the IRD’s eTAX gateway to enjoy personalized online tax services. To save paper, taxpayers can also select to receive electronic notices and documents.

Employer’s Return of Remuneration and Pensions (Form BIR56A) for the year ended 31 March 2024 were issued on 2 April. Employers are required to complete and file the return to the IRD within one month together with the Form IR56B for reporting of remuneration paid to the employees.

Employers can file the employer’s returns online by using "iAM Smart+" or eTAX account. The IR56 Forms Preparation Tool can be used to prepare the data file of annual Form IR56B for uploading to the IRD via the Online Mode or the Mixed Mode. Employers adopting Mixed Mode submission, after uploading of data file(s), are only required to submit the duly signed paper form BIR56A and the cover page (i.e. the first page) of the Control List generated from the system to complete the submission process. In addition, to tie in with employers in preparing early for the submission, the IR56 Forms Preparation Tool can be used to prepare the data file of annual IR56B starting from 1 March each year.

Please visit the IRD website for details.

Recently qualified members, join the ICAEW at a special rate

Members who qualified through the Qualification Programme in or after 2015 can apply to join the Institute of Chartered Accountants in England and Wales (ICAEW) at a special rate. Find out more about the scheme here. Enquiries: ICAEW Hong Kong office - tel. no. 3653 7015; email candice.tang@icaew.com

CA ANZ HK Panel Session on “Sustainability in Deals”

Join the panel discussion held by CA ANZ on 7 May to further understand the key findings in its joint thought-leadership paper Seizing Opportunities: CAs Lead the Charge in Sustainability Integration for M&A. Institute members can register at the member rate.

Good MPF Employer Award

The Mandatory Provident Fund Schemes Authority is inviting applications and nominations for its Good MPF Employer Award 2023-24. Interested employers can apply online by 15 July.

eBRAM Deal-Making Portal

Connect with potential business partners through this inclusive portal for cross-border transactions. Subscription is free for corporate members who register before 30 September.

Disclaimer: Some sections contain information from outside sources. We endeavour to link to reputable sources but the Institute is not responsible for the accuracy of the content and the content does not necessarily represent the views of the Institute.

This email together with the file(s) transmitted is intended solely for addressee(s) only and may contain confidential or privileged information. If you received this email in error, please contact the sender and delete it together with its attachment(s) from your computer(s). You should note that the views expressed in this email are those of the author and do not necessarily represent those of the Institute. The recipient should check this email and all attachments for the presence of virus. The Institute will not accept liability for any damage caused by any viruses transmitted with this email.

Manage communication preferences | Privacy policy | Personal information | Contact us