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21/02/2023page

Hong Kong Budget 2024-25

The Financial Secretary, Mr Paul Chan, delivered the 2024-25 Hong Kong budget on 28 February 2024. This is the second budget prepared by Mr Chan for the current-term government.

21/02/2023page

Hong Kong Budget 2022-23

Having regard to the emergence of COVID-19’s variants and the uncertainties over the global economic outlook, the Financial Secretary, Mr Chan Mo-Po (“Mr Chan”) continued to adopt an expansionary fiscal policy in preparing the 2022-23 Budget with the objective of relieving the hardship of people and small and medium-sized enterprises and paving the way for the post-pandemic economic recovery.

21/02/2023page

Hong Kong Budget 2023-24

The Financial Secretary, Mr Paul Chan, delivered the 2023-24 Hong Kong budget on 22 February 2023. This is the first budget presented by the current-term Government and since the resumption of quarantine-free travel with the Mainland and international community.

21/02/2023page

APAC payroll newsletter 2023 Vol.1

As the new fiscal year has recently begun, our APAC payroll newsletter helps to provide important updates on upcoming changes and amendments to payroll regulations for the 2023 year to ensure payroll compliance across APAC.

14/02/2023page

Beyond the GAAP – January 2023

With the Corporate Sustainability Reporting Directive (CSRD) coming into effect on 5 January 2023, EU countries can now begin the work of transposing it into national law. In practice, the member states have until 6 July 2024 to transpose the CSRD and to specify certain requirements of the new directive, which some large companies will have to apply from 1 January 2024.

13/02/2023page

Mazars’ record global revenues confirm strength of its international, integrated, multidisciplinary strategy (14 Feb 2023)

Mazars, the international audit, tax and advisory firm, today releases its global financial results for the 2021/2022 financial year, highlighting double-digit year-on-year growth of 16.4%, reaching €2.45bn in fee income.

03/02/2023page

Mazars in Hong Kong Lion Dance 2023 (2 Feb 2023)

As we get into the year of the Rabbit, we had a traditional lion dance performed at our Mazars in Hong Kong office. The lion dance came to bring prosperity, good luck and give blessings to everyone in the office. Many of us got part of the lettuce and gold coins as a symbol of luck and fortune!

01/02/2023page

Update on Supervisory Policy Manual module IC4 on complaint handling and redress by the Hong Kong Monetary Authority

The Hong Kong Monetary Authority has recently issued an updated Supervisory Policy Manual module IC-4 on “Complaints Handling and Redress” (the “Module”) as a statutory guideline in order to align the requirement of the HKMA with the latest industry good practices in financial consumer protection. All authorized institutions are required to implement this updated Module no later than 5 April 2023.

01/02/2023page

Mazars in Hong Kong strengthens Financial services consulting team with new Partner appointment (1 Feb 2023)

Mazars in Hong Kong is delighted to announce the appointment of Paul Cheng as a Partner to the Financial services consulting team. This appointment further enhances the depth of expertise across key practice areas.

16/01/2023page

Beyond the GAAP – December 2022

As 2022 gives way to 2023, the whole editorial team at Beyond the GAAP would like to wish you all the best for the coming year! While there will probably still be much to discuss on the accounting front, there is sure to be even more activity in terms of sustainability reporting, both at European and international level. In particular, the European Commission is expected to endorse the delegated acts on sector-agnostic ESRS by 30 June 2023.

10/01/2023page

Hong Kong corporate secretarial newsletter

10/01/2023page

APAC corporate secretarial newsletter 2023 vol.1

As businesses expand their operations into new countries, it brings a wealth of opportunities but also creates compliance risks. With its economies driving global growth, Asia Pacific (APAC) is an inviting region for multinational corporations seeking expansion. Each jurisdiction in the region has its own rules and regulations so getting compliance right is a challenge faced by businesses of all sizes. To minimize these challenges, our APAC corporate secretarial newsletter provides information on how to ensure compliance on an international scale and helps businesses gain comprehensive insights into the business landscape across APAC.

10/01/2023page

APAC corporate secretarial newsletter

09/01/2023page

Forvis Mazars (Hong Kong) Podcast | Let's talk Outsourcing

Let’s talk Outsourcing is our new weekly podcast series which focus on the issues that will be of concern to employers and employees when taking up employment in Hong Kong. Our outsourcing experts have extensive localization experience. They will help you gain a comprehensive understanding of the Hong Kong employment matter in the easiest way possible and doing business successfully in Hong Kong.

29/12/2022page

December 2022 vol.2 - Passage of Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022

On 24 June 2022, the Hong Kong Government gazetted the Amendment Bill, introducing changes to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (“AMLO”). We will mainly highlight the passage of anti-money laundering and Counter-Terrorist Financing (Amendment) Bill 2022 in this company secretarial newsletter.

22/12/2022page

Growing in value with purpose

When planning how to drive value and growth in a business, one of the main areas business owners often focus on is turnover. The assumption is that increasing turnover will drive growth, and therefore value. But that is not necessarily the case. That extra turnover might be very low margin and require significant extra investment, which could actually reduce profitability and value. With this in mind, it’s crucial to understand where growth truly lies for the business.

22/12/2022page

Mazars in Hong Kong webinar: HKFRS update 2022 (15 February 2023)

The webinar on recent updates of HKFRS delivered on 15 February 2023 attracted over 270 attendees delivered by our Quality & Assurance Partner, Leo Cheuk and Senior Manager, Jack Choi from Mazars in Hong Kong.

20/12/2022page

December 2022 vol.1- New inspection regime to enhance privacy rights of directors and other officers under the Companies Ordinance

The balance between the privacy rights of directors and other officers and the right of the public to access them through searches has been a vexed issue for years.

12/12/2022page

Beyond the GAAP – November 2022

As 2022 year-end closing approaches, we present our traditional overview of the new standards and amendments applicable at 31 December. Once again, no major new standards have been published this year, but disclosures are required on the impact of standards issued by the IASB but not yet effective, particularly for insurers in view of the entry into force of IFRS 17 on 1 January 2023.

12/12/2022page

Mazars in Hong Kong co-organised Christmas Wreath Workshop with HKFWC (8 December 2022)

On 8 December 2022, we held a Christmas wreath workshop in collaboration with the Hong Kong Federation of Women's Centres (HKFWC). Our colleagues not only made and decorated their own Christmas wreaths, but also knew more about how the HKFWC helps grassroots women in our society. Our colleagues enjoyed the class and crafted the stunning wreaths!

09/12/2022page

2022 HKICPA Annual Dinner (5 December 2022)

Our Partners, Directors and Managers from Mazars in Hong Kong attended the 2022 Hong Kong Institute of Certified Public Accountants (HKICPA) Annual Dinner on 5 December at JW Marriott Hotel Hong Kong. It was a night of networking with great performances, and we look forward to another fruitful year for the accounting community!

29/11/2022page

Building a resilient sales strategy

Every business needs a strong sales strategy to survive, and to drive sustainable value creation. It is not only about sales, but also about quality.

29/11/2022page

Making better investment decisions

Strategic planning is critical to making better investment decisions and increasing business value.

29/11/2022page

2022 Mazars Annual Asia Pacific Partner Conference (23-25 November 2022)

From 23 to 25 November, our Mazars in Hong Kong Partners and Mazars' leaders from across the APAC region came together for the annual APAC Partners Conference in Bangkok, Thailand. The insightful sharing sessions shaped the further development of the Mazars partnership in APAC and strengthen our commitment to our clients.

24/11/2022page

HKIoD 25th Anniversary Dinner cum Presentation of Directors Of The Year Awards 2022 (23 Nov 2022)

On 23 November 2022, our Directors and Managers attended The HKIoD 25th Anniversary Dinner cum Presentation of Directors Of The Year Awards 2022 at HKCEC, to commemorate the 25th Anniversary of both HKSAR and the HKIoD in the theme of “From resilience to sustainability”, and witness the awarding of outstanding boards and directors in publicising the significance of good corporate governance and and director professionalism.