IRD
27/12/2024
MINIMUM TAX FOR MNE GROUP
The IR (Amendment) (Minimum Tax for Multinational Enterprise Groups) Bill 2024 was published in the Gazette ON 27 December 2024…
HKICPA
23/12/2024
HKICPA HANDBOOK UPDATE 320
PN 620.2 (Revised) and PN 810.2 (Revised) are updated for reporting in relation to the implementation of the risk-based capital regime…
AFRC
20/12/2024
AFRC FINED A PIE AUDITOR
AFRC reprimands BDO Limited for serious audit breaches, imposes fines and gives its first direction for additional CPD…
IRD
18/12/2024
LEASED PREMISES REINSTATEMENT AND IBA/CBA
Introducing a tax deduction for expenses incurred for reinstatement cost and removing the time limit for claiming IBA and CBA…
HKICPA
12/12/2024
HKICPA HANDBOOK UPDATE 319
HKFRS S1 and S2 are issued for sustainability-related financial information…
CR
6/12/2024
REVISED AML/CFT GUIDELINE
CR has revised Guideline on AML/CFT applicable to Licensed Money Lenders…
HKICPA
5/12/2024
HKICPA HANDBOOK UPDATE 318
COE (Revised 12/2024) has incorporated all revision of COE in 2024…
IRD
29/11/2024
TAX DEDUCTIONS FOR ASSISTED REPRODUCTIVE SERVICE EXPENSES
This Bill stipulates provisions for a tax deduction for assisted reproductive (AR) service expenses under salaries tax and personal assessment…
CR
22/11/2024
COMPANIES (AMENDMENT) BILL 2024
This bill relates to treasury shares and promote paperless corporate communication…
IRD
8/11/2024
STAMP DUTY LEGISLATION (MISCELLANEOUS AMENDMENTS) BILL 2024
This bill waives the stamp duty payable on the transfer of shares or units of REIT and the jobbing business of options market makers…
IRD
4/11/2024
EXTENDED DUE DATE FOR “M” CODE RETURNS
IRD has extended the due date for filing 2023/24 Profits Tax returns with ‘M’ code cases to 29 November 2024…
AFRC
31/10/2024
AFRC ISSUED 2023-24 ANNUAL REPORT
This report highlights how the AFRC has leveraged its five pillars to achieve efficient and effective regulatory outcomes…
AFRC
30/10/2024
OVERVIEW OF THE NON-PIE ENTITY AUDIT MARKET
The Overview provides market information about the share of the non-PIE audit market, the workload of non-PIE auditors, and the AFRC’s expectations on the provision of high-quality audit services by practice units...
AFRC
29/10/2024
A DEDICATED WEBPAGE AGAINST BOGUS CPA
AFRC has prepared some FAQs to enable members of public to aware of and report bogus CPA…
AFRC
21/10/2024
AUDIT IMPLICATIONS OF CURRENT ECONOMIC CONDITIONS FOR HK-LISTED COMPANIES
The Report examines how current economic conditions are impacting financial reporting and audit practices for Hong Kong-listed companies…
HKICPA
27/9/2024
HKICPA HANDBOOK UPDATE 317
This Update provides the specific CPD requirements for membership re-applicants…
IAASB
25/9/2024
IAASB PUBLISHES NEW ISA FOR LCE ADOPTION GUIDE
IAASB has released a adoption guide designed to help jurisdictions adopt the ISA for LCE…
AFRC
13/9/2024
MAINTAINING THE QUALITY OF CROSS-BORDER AUDIT SERVICES
AFRC collaborates with MoF in Mainland China in maintaining the standards and quality of cross-border audit services…
HKICPA
12/9/2024
HKICPA HANDBOOK UPDATE 316
This Update relates to the annual improvements to HKFRS Accounting Standards - Volume 11…
HKICPA
8/8/2024
HKICPA HANDBOOK UPDATE 315
This Update relates to amendments to the classification and measurement of financial instruments…
HKICPA
29/7/2024
HKICPA HANDBOOK UPDATE 314
This Update relates to the AB4 Guidance on Determination of Realised Profits and Loss and HKFRS 19 Subsidiaries without Public Accountability: Disclosure…
IASB
18/7/2024
ANNUAL IMPROVEMENTS TO IFRS ACCOUNTING STANDARDS
IASB issued narrow amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7 that would become effective for annual periods beginning on or after 1 January 2026…
AFRC
16/7/2024
INTERIM PROVISIONS ON ACCOUNTING FIRMS
Under the Interim Provisions launched by China authority, a HK CPA firm shall co-operate with a CPA firm in PRC in order to continue performing an audit engagement of a Mainland enterprise listed in Hong Kong…
HKICPA
15/7/2024
HKICPA HANDBOOK UPDATE 313
This Update relates to the revisions to the definitions of listed entities and PIE IN THE COE and the narrow scope amendments to HKSA 700 (Revised) and HKSA 260 (Revised)…
AFRC
11/7/2024
2023 ANNUAL INSPECTION REPORTS
This report stresses the pivotal roles of the firm’s leadership in upholding audit quality and reinforces the importance of continuous learning as a key driver of improvement…
AFRC
10/7/2024
RESPONSE TO PWC WHISTLE-BLOWER ALLEGATIONS
After a review, AFRC concluded that the evidence does not support the three allegations regarding PWC’s SQM…
HKICPA
10/7/2024
HKICPA HANDBOOK UPDATE 312
This Update relates to the Code Addressing Tax Planning and Related Services for the professional accountants who provide tax planning and related services…
HKICPA
9/7/2024
HKICPA HANDBOOK UPDATE 311
The Update relates to the issuance of HKFRS 18 Presentation and Disclosure of Financial Statements and HK-Int 5…
IRD
5/7/2024
TAX CONCESSIONS FOR IP INCOME
The IRO implement the “patent box” tax incentive to provide tax concessions for qualifying profits derived from eligible intellectual properties…
IRD
5/7/2024
FSIE REGIME - FAQ
More FAQs and illustrative examples have been uploaded to the Department's website…
IRD
5/7/2024
INTEREST INCOME FROM FOREIGN DEBT INSTRUMENT
An FAQ for interest income from foreign debt instrument is provided by IRD for reference…
AFRC
28/6/2024
REMINDER TO PIE AUDITORS: BE PREPARED FOR UNDERTAKING PIE ENGAGEMENTS
The reminder targets the PIE auditors without PIE engagements and aims to communicate the AFRC’s expectations regarding PIE auditor’s intention and readiness before undertaking PIE engagements…
AFRC
27/6/2024
SETTING AND REINORCING TONE AT THE TOP TO ACHIEVE QUALITY AUDITS
The article emphasizes the critical role of "tone at the top" in cultivating an ethical, compliant, and quality-driven culture to minimize misconduct and promote audit quality and talent development…
IRD
24/6/2024
HONG KONG AND ARMENIA ENTER INTO TAX PACT
Hong Kong has entered into a comprehensive avoidance of double taxation agreement (CDTA) with Armenia...
AFRC
13/6/2024
ROUNDTABLE DISCUSSION OF AUDIT QUALTITY AND SO ON
AFRC conducted roundtable discussions with institutional investors, audit committee of HK listco and PIE auditors. The discussion focused on audit quality of listed companies in Hong Kong and the threat posed to it by a decade-long stagnation of audit fees…
IRD
13/6/2024
TAX OBLIGATION OF PROPERTY OWNERS
IRD has issued a notice to remind the tax obligations of property owners, in particulars the obligation of notification of chargeability…
HKICPA
13/6/2024
HKICPA HANDBOOK UPDATE 310
This Update relates to the housekeeping revision to the Preface of COE and revision to the COE incorporating technology-related revisions…
HKICPA
6/6/2024
HKICPA HANDBOOK UPDATE 309
This Update relates to the conforming amendments as a result of HKSA 600 (Revised)...
IRD
31/5/2024
CHANGE OF INTEREST RATE OF TAX RESERVE CERT
Annual interest rate on Tax Reserve Certificates will be changed to 0.8833% from 3 June 2024 onward…
AFRC
29/5/2024
IMPORTANCE OF AUDIT DOCUMENTATION INTEGRITY
This article aims at:-
1. Reiterate the importance of key standards relating to audit documentation integrity and AFRC’s concern;
2. Explain the urgency of developing SQM for an effective system of audit documentation; and
3. Even more…
HKICPA
28/5/2024
HKICPA HANDBOOK UPDATE 308
This Update relates to the relocation of HKASs and HKFRSs that become effective accounting standards and financial reporting standards from section 2 to section 1…
IRD
22/5/2024
INLAND REVENUE (AMENDMENT) (TAX CONCESSIONS AND TWO-TIERED STANDARD RATES) BILL 2024
This bill includes:-
1. Implementing a two-tiered standard rates regime for salaries tax;
2. Reducing salaries tax, tax under PA and profits tax for the Y/A 2023/24 by 100 per cent, subject to a ceiling of HK$3,000; and
3. Allowing an additional deduction ceiling amount of HK$20,000 for home loan interest or domestic rents…
IRD
22/5/2024
INLAND REVENUE (AMENDMENT) (TAX CONCESSIONS AND TWO-TIERED STANDARD RATES) BILL 2024
This bill includes:-
1. Implementing a two-tiered standard rates regime for salaries tax;
2. Reducing salaries tax, tax under PA and profits tax for the Y/A 2023/24 by 100 per cent, subject to a ceiling of HK$3,000; and
3. Allowing an additional deduction ceiling amount of HK$20,000 for home loan interest or domestic rents…
IRD
16/5/2024
TAX OBLIGATIONS OF TAXPAYERS AND EMPLOYERS
IRD has issued a notice to remind the tax obligations of taxpayers and employers, in particulars information to be furnished by taxpayers and employers…
IRD
13/5/2024
LIST OF QUALIFYING DEBT INSTRUMENTS
The IRD has updated the lists of Short Term / Medium Term and Long Term Debt Instruments Eligible for Profits Tax Concession as at 31 March 2024…
IASB
9/5/2024
IFRS 19 SUBSIDIARIES WITHOUT PUBLIC ACCOUNTABILITY: DISCLOSURES
This IFRS permits the own financial statements of the subsidiaries of a group use IFRS for SMEs or national accounting standards even though the group’s holding company’s consolidated financial statements comply with IFRSs…
IASB
9/4/2024
IFRS 18 PRESETNATION AND DISCLOSURE IN FINANCIAL STATEMENTS
This new IFRS has:-
1. Improved comparability in the statement of profit or loss;
2. Enhanced transparency of management-defined performance measures; and
3. Provided more useful grouping of information in the financial statements…
CR
28/3/2024
CR EXTERNAL CIRCULAR NO. 1/2024
This circular has listed common errors in the completion of the specified forms announced by CR, especially for the commonly used Form NAR1 – Annual Return…
HKICPA
25/3/2024
HKICPA HANDBOOK UPDATE 307
HKICPA has updated HKSIR 200, HKSIR 500, PN 730(Revised and PN 740 (Revised) following new listing regime, CSRC and narrow-scope amendments of HKAS 1…
CR
25/3/2024
ADJUSTMENT OF BR FEES AND WAIVER OF BR LEVY
CR announced that the prescribed BR fees will be adjusted to HK$2,200 and the BR levy will be waived for 2 years with effect from 1 April 2024…
IRD
7/3/2024
SUSPENSION OF ETAX SERVICES
The IRD will launch the new version of eTax filing of PTR services on 1 April 2024. To facilitate system update, the eTax filing will be temporarily suspended from 17 March 2024 to 31 March 2024…
HKICPA
1/3/2024
HKICPA HANDBOOK UPDATE 306
This Update relates to the publication of the revised Preface to HKFRSs. The Preface is revised to update the post-implementation review policy for SME-FRF and SME-FRS…
IRD
28/2/2024
BUDGET SPEECH BY FINANCIAL SECRETARY
Among other things, the financial budget 2024 covered tax measures such as one-off tax deduction, two-tiered tax rate on salaries tax, deduction for reinstating costs, and so on…
IRD
20/2/2024
EU REMOVED HK FROM WATCHINGLIST ON TAX CO-OPERATION
Following the enactment to refine FSIE regime in December 2023, the HK tax system, EU has removed HK from the watchinglist...
IRD
20/2/2024
AIRCRAFT LEASING TAX REGIME
The IRD proposed legislative amendments of Inland Revenue (Amendment) (Aircraft Leasing Tax Concession) Bill in respect of the provision of qualifying aircraft lessors with tax deduction of the acquisition cost of aircraft, and so on…
IRD
8/2/2024
ADVANCE RULING FOR F SIE
The IRD released the advance ruling case No. 74 in respect of the foreign source income exemption of a Hong Kong tax payer which is an MNE entity and HK resident person…
IRD
1/2/2024
SUSPENSION OF ETAX FILING FOR TAX RETURN - INDIVIDUAL
The Internet filing service for Tax Return - Individuals will be temporarily suspended from 30 March 2024…
IRD
31/1/2024
STAMP DUTY (AMENDMENT) (RESIDENTIAL PROPERTIES) BILL
This amendment bill implements the adjustments to the demand-side management measures for residential properties, including (a) shortening the applicable period of the SSD; (b) reducing the rates of the BSD and the NRSD; and…
HKICPA
30/1/2024
HKICPA HANDBOOK UPDATE 305
Revisions to the HKSQM, Auditing, Review, Other Assurance, and Related Services Pronouncements to update the illustrative auditor’s reports as a result of the narrow-scope amendments made to HKAS 1; and align with the 2022 IAASB pronouncements and other…
AFRC
29/1/2024
AFRC QUARTERLY REPORT FOR Q1 OF 2024
The AFRC released quarterly report for the 2024’s first quarter which has summarized the work performed by and the publication of by AFRS in the last quarter of 2023…
CR
23/1/2024
LIST OF CODE AND DESCRIPTION OF BUSINESS NATURE
The list of code and description of business nature is updated…
promotion@takopro.com.hk
Tako Professional Technical Limited is an innovative and forward-looking local IT company specialised in the development and marketing of SSEP Auditing System, a comprehensive auditing system tailored for local CPAs, and related products and services incorporated in 2017.
Our development team consists of certified public accountants, IT experts, and experienced auditors, so that our products, services and advices are so practical and considerable to the needs of our target customers.
Over the three years, we have accumulated a client base of more than one hundred CPA firms. In term of the number of clients, SSEP has been the second to none auditing system in Hong Kong.
SSEP Auditing System qualifies for Technology Voucher Programme (TVP) under Innovation and Technology Fund; three-quarter of purchasing costs can be subsidised by the Hong Kong Government.
(852) 96178380
promotion@takopro.com.hk
Tako Professional Technical Limited is an innovative and forward-looking local IT company specialised in the development and marketing of SSEP Auditing System, a comprehensive auditing system tailored for local CPAs, and related products and services incorporated in 2017.
Our development team consists of certified public accountants, IT experts, and experienced auditors, so that our products, services and advices are so practical and considerable to the needs of our target customers.
Over the three years, we have accumulated a client base of more than one hundred CPA firms. In term of the number of clients, SSEP has been the second to none auditing system in Hong Kong.
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