06 Jun 2014
|The Taxation Institute of Hong Kong presents a roving exhibition titled “Hong Kong Tax Landscape - Today and Tomorrow” from today until December 2014 at eight shopping centres managed by The Link Management Limited (“The Link”), which co-organised the event.
The exhibition aims to enhance the public’s knowledge of the Hong Kong tax system, public finance and functions of government bodies, such as those of the Inland Revenue Department. The exhibition also includes information about the Mainland Chinese tax system as well as how to obtain necessary qualifications to become a registered tax agent, including how to verify one’s professional qualifications and enhance one’s professional capabilities.
The opening ceremony was held at Lok Fu Plaza this afternoon and was officiated by Andy Cheung, Chief Financial Officer of The Link. During the ceremony, Mr. Cheung delivered a speech that outlined Hong Kong’s simple, low-rate tax system, which is recognised as being advantageous by international organisations and investors around the globe. He also said that he believed it was useful for members of the public to learn more about Hong Kong’s tax regime since it affects all residents.
“The Link has provided venues for this exhibition and helped in its preparation,” said Mr. Cheung. “We hope it enables members of the public to learn about taxation through engaging activities at our shopping centres. The Link will continue to make use of our wide-reaching network of shopping centres and provide rent-free venues to non-profit making organisations to hold activities that support the neighbourhood.”
Mable Chan, Deputy Secretary for Financial Services and the Treasury, also officiated the opening ceremony. She said, “I am delighted that the Taxation Institute of Hong Kong initiated this exhibition to introduce members of the public to Hong Kong’s exceptional tax system. This exhibition will reach a wide audience and elevate the public’s understanding of the prevailing tax system. The exhibition also features Mainland China’s tax system, providing useful and timely information that is of interest to Hong Kong people in recent years.”
Knowledge about taxation is indeed practical for everyone living in Hong Kong. Joseph Yau, President of the Taxation Institute of Hong Kong, said, “Hong Kong’s healthy and robust public finances are facing an unprecedented series of challenges due to factors like an ageing population and a narrow tax base. In addition, it is important to consider whether Hong Kong can maintain its competitiveness while other Asian jurisdictions are proactively improving their business environment in order to attract foreign investment. The Taxation Institute of Hong Kong organised this exhibition to introduce the public to the historical underpinnings, the present challenges and the future of Hong Kong’s tax system. The exhibition will also showcase the obligations borne by taxpayers, as well as the rationale and importance of paying tax. It is one part of contribution towards Hong Kong’s ongoing development, and we aim to build an ideal home for our next generation together.”