Zou Haiyan, managing director of the Hong Kong China Tax Business Consultants Limited, said that with the expansion of business opportunities in the mainland after China's accession to the WTO, opportunities for co-operation between accountants in Hong Kong and the Mainland will be increased, and the co- The establishment of a common business advisory body is more beneficial to each other.
Foreign investors have confidence in Hong Kong's legal system
As a Certified Public Accountant in China and an accountant in Hong Kong for many years, Zou Haiyan attended the "China Business Workshop" organized by the SME Federation and the Hong Kong Institute of Professional and Continuing Education, aimed at small and medium enterprises. "Trends in China's Tax Policy Reform after China's WTO Accession". He said after the meeting that the company had different opportunities for co-operation with dozens of accounting firms and organizations in Hong Kong. The forms of co-operation include business referrals, joint audits of foreign investment in the Mainland, co-operation of consultancy bodies and co-operation. Seminars and so on, and the opportunities for cooperation with the country after the accession to the WTO economic development, I believe will continue to increase.
He pointed out that the accountants in the two places had different advantages in terms of exploring business opportunities in the Mainland. Mainland accountants were familiar with the situation, including policies, regulations and tax rates. The cost was about one-third or even less than that of local accountants. Attraction. However, for a large-scale foreign investor, Hong Kong has always been more confident about the legal environment in Hong Kong. If it can reduce the investment risk, it would prefer to pay more, choose a Hong Kong accountant to provide professional services or refer to Mainland accounting firms.
The Mainland will gradually simplify the tax system
In introducing China's WTO entry tax reforms, Zou pointed out that the state will gradually simplify the tax system, establish a mechanism in line with international taxation practices, merge the different tax systems in the past and foreign countries, and standardize the implementation of the unified tax system. With the tax system, it will gradually introduce new taxes including estate duty, securities transaction tax and environmental protection tax; and expand the export tax rebate rate, and gradually reduce import and export tariffs. The reform of these tax systems will affect domestic and foreign investors in a wide range of industries, and the reform period will last for a considerable period of time.
The expansion of the China Business Workshop was held in the Admiralty Center, Admiralty, Hong Kong. The course was chaired by the Chief Curriculum Officer of the College. The course was also attended by senior lecturers Li Wei-cai on "Continuing Education and Human Resource Quality Improvement". CPCNetHongKong Managing Director of Cologne Computer Systems Co., Ltd. Mr. Liang Jianzhong, Director of Asia Kelon Co., Ltd. and Director of Ngolin Technology Co., Ltd. Xie Yong and other different accounting systems were introduced and compared. (Excerpted from Hong Kong, "Ta Kung Pao," the "professional world" October 2, 2002)