SMEs should be familiar with the Mainlands tax system and the seminar speakers said that it was beneficial to expand Mainland business

Postdate: 2016-11-08

In an "Expanding China Business Series 1" seminar organized by the Hong Kong Small and Medium Enterprises Association and the University of Hong Kong's School of Professional and Continuing Education, some speakers expressed the view that small and medium enterprises must be familiar with the local taxation system when developing their businesses in the Mainland. , In order to ensure the smooth development of business.

Hong Kong China Tax Business Consultants Limited Managing Director Zou Haiyan said that the development of SMEs in the Mainland, we must first familiar with the Mainland tax mechanism, if not clear how the Mainland, Hong Kong tax system only by the concept and hearsay misunderstanding, will go Misunderstanding. Secondly, do not just listen to the interpretation of the local government officials, a government official one-sided, verbal commitments, and even written commitments have no legal effect, because the central regulations enacted, not a local officials custom regulations. Thirdly, the Company shall regulate the daily operation of the Company in accordance with the taxation regulations, including customs declaration and tax declaration.

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He said that the Mainland's tax regime was subject to change and local SMEs should be aware of the adjustment of tax policies in the Mainland and keep abreast of the latest news on taxation in the Mainland, which would help the company's strategic deployment. He added that if the full use of the tax mechanism, the development of the company have great benefits.

In the selection of tax advisers or accountants, he believes that must choose some of the operation of SMEs are familiar with and meet the needs of the company can also invite Hong Kong accounting consultants, through the meeting to understand whether the Mainland accountants meet the requirements. He believes that hiring well-known accounting advisers or accountants or not, is not an important factor, the most important is to help companies develop their business. On the whole, mainland accountants charge about one-third to half as much as Hong Kong. But this is the case for big cities such as Beijing.

Senior Program Director of the School of Professional and Continuing Education of the University of Hong Kong, Mr Lee Wai-cai, said that they would work with foreign prestigious universities to introduce some of the finest courses in prestigious universities to the Mainland. The program is a two-year master's degree. The first year will require a postgraduate diploma, A master's degree from a foreign university is available.

He added that due to the lack of professionals in the Mainland, HKU would provide courses tailored to local needs to nurture talent. Many of these courses are aimed at working people, and many Hong Kong people who work in the Mainland have also taken these courses. This year will be the creation of new bank financial courses, are aimed at the needs of the mainland. (From Hong Kong, "Ta Kung Pao" Innovation and Technology October 2, 2002)