Hong Kong plays an important role as an international financial hub in the global economy. To cope with ever-increasing amounts of global trade, effective tax planning and management is essential. In light of this, the Taxation Institute of Hong Kong (TIHK) provides a comprehensive Certified Tax Adviser (CTA) Qualifying Examination programme to promote the study of taxation and elevate the standard of tax professionals in Hong Kong.
The programme is designed to meet growing market needs, provide a benchmark for new entrants to the profession, and enhance the confidence of employers towards tax professionals holding the qualification. The exam consists of four papers - Hong Kong tax, international tax, China tax and advanced taxation practice. All papers are in written format.
The programme was launched in 2010. Last year, 34 people took the exam, with 60 per cent passing. For the individual papers, the pass rates were 67 per cent for Hong Kong tax, 31 per cent for international tax, 67 per cent for China tax and 75 per cent for advanced taxation practice.
'As an international city, we deal with an increasing amount of businesses and trades outside Hong Kong, especially mainland China,' says TIHK president Philip Hung.
'Hong Kong has also signed agreements for the avoidance of double taxation with many countries. A tax expert should be conversant in China tax and international tax, in addition to being knowledgeable in Hong Kong tax,' he adds.
The programme aims to ensure that all CTAs have a thorough knowledge in taxation with a high level of competence.