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23/09/2021page

Shiu Hang Fung interviewed by ACCA Accounting and Business Magazine (September 2021)

Shiu Hang Fung, our Practising Director and Head of Audit and Assurance at Mazars in Hong Kong was interviewed by ACCA Accounting and Business Magazine and shared his views regarding the major challenges for accounting industry and advice towards accounting graduates.

23/09/2021page

Mazars in Hong Kong sponsors the HKIoD Director’s Symposium 2021 (15 Sep 2021)

On 15 September, our Managing Director, Jimmy Yip, Practising Director, Ivan Chan, Directors, Gilles-Alexandre Salansy and Najla Belkhoja attended the Hong Kong Institute of Directors Directors’ Symposium 2021 at the Hong Kong Convention and Exhibition Centre. The speakers had shared their insights on the theme and introduced present visions showcased in diverse industries.

20/09/2021page

Forvis Mazars in Hong Kong alumni - stay connected

Stay connected with Forvis Mazars, explore opportunities, share ideas, and pursue professional development with former colleagues.

15/09/2021page

Mazars in Hong Kong co-organized Food Donation Month with Feeding Hong Kong (August 2021)

In August, we encouraged our colleagues to donate surplus food to Feeding Hong Kong. Throughout the food donation period, we collected significant amount of surplus food, including rice, noodles, oats, cooking oil, beverages, canned food, & snacks. This action not only enabled our colleagues to rescue surplus food but also can redistribute to charities and helping people in need via Feeding Hong Kong, and at the same time help create a sustainable environment. We look forward to joining Feeding Hong Kong's food donation again.

14/09/2021page

Jimmy Yip participated in strategy development signing ceremony for accounting profession in Guangdong-HongKong-Macao (8 Sep 2021)

On 8 Sep 2021, our Managing Director, Jimmy Yip, participated in the signing ceremony of strategy development for accounting profession in Guangdong, Hong Kong, and Macao. The accord was signed by the Guangdong Institute of Certified Public Accountants, the Hong Kong Association of Registered Public Interest Entity Auditors Limited and the Union Associations of Professional Accountants of Macau, as well as 150 registered accountancy firms in Guangdong province and the two special administrative regions. Government officials & other representatives of the accounting sector from the three territories attended the ceremony simultaneously via webcast.

09/09/2021page

SFC consultation conclusions on the management and disclosure of climate–related risks by fund managers

Addressing climate change is at the top of regulators’ agenda globally. In achieving Hong Kong’s carbon neutrality target before 2050 and in complying with its strategy on the management of climate-related risks for the asset management sector, the Hong Kong Securities and Futures Commission (“SFC”) has recently taken a significant step towards addressing such in the industry.

09/09/2021page

2021 Good MPF Employer Award

We are delighted to be awarded with the Good MPF Employer Award by the Mandatory Provident Fund Schemes Authority (MPFA) for 3 consecutive years since 2019. It recognises our dedication on complying with employers' MPF statutory obligations and going beyond to enhance our employees’ retirement benefit.

06/09/2021page

Let’s talk luxury: the Forvis Mazars podcast about the luxury business model makeover

Let’s talk luxury is the Forvis Mazars podcast series about how and why luxury brands are undergoing a business model makeover. In each episode, luxury experts discuss what’s happening in the sector, including authenticity, circularity, new customer cohorts and retail experiences worth posting about.

30/08/2021page

August 2021 - Statement on a two-pillar solution to address the tax challenges arising from the digitalization of the economy

The G20/OECD Inclusive Framework on BEPS (“IF”) has, on 1 July 2021, approved the “Statement on a Two-Pillar Solution to Address the Tax Challenges Arising From the Digitalization of the Economy” (the “Statement” or so called “BEPS 2.0”). The Statement is approved by 133 countries and jurisdictions of the 139 countries and jurisdictions comprising the IF, including Hong Kong and China, as of 12 August 2021.

06/08/2021page

August 2021 - Tax treatments for corporate amalgamation under the court-free procedures

The new Companies Ordinance (“CO”) (Cap. 622) came into effect on March 3, 2014 & introduced court-free procedures for corporate amalgamations in Hong Kong. The Inland Revenue Department (“IRD”), before the enactment of the recent tax legislation, had handled amalgamation cases based on the interim assessing practice published on its website. To provide taxpayers with clarity and certainty, the IRD introduced the Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 which codifies the IRD’s assessing practice relating to amalgamation into the Inland Revenue Ordinance (“IRO”). This bill was enacted on 11 June, 2021.

28/07/2021page

Ivan Chan featured in Hong Kong Business Magazine (July 2021)

In July 2021, As one of the judges in this year’s Hong Kong Business Awards 2021, Ivan Chan, our Audit & Financial Advisory Services Partner from Mazars in Hong Kong shared trends that will define Hong Kong businesses in the years to come. He mentioned that Hong Kong's economy rebounds & recovers strongly, various newly arising trends could be easily captured in the market. COVID hammered the total consumption spending of Hong Kong; however, the growth of the e-commerce market will continue to soar in the upcoming year. 2021 has been a record-breaking year for the e-commerce market, and its associated implications will be continuously leading the recovery of the entire Hong Kong business environment.

27/07/2021page

Mazars in APAC webinar: The Future of Audit in Asia-Pacific (9 Sep 2021)

Financial audit is the foundation on which trust and integrity are built into financial markets around the world. However, the profession in Asia-Pacific faces a decisive moment and the public interest is at stake.

22/07/2021page

Draco Fong interviewed by ACCA Accounting and Business Magazine (July 2021)

Draco Fong, our audit and assurance partner at Mazars in Hong Kong was interviewed by ACCA Accounting and Business Magazine and shared valuable insights regarding his track to partnership and advises towards young accountants about their career path in the accountancy industry.

22/07/2021page

July 2021 - Changes are around the corner: The BEPS 2.0 Pillar 2 update

In November 2019, the OECD released the Global Anti-base Erosion (GloBE) proposal, the so-called Pillar 2 of the BEPS 2.0 project. On 12 October 2020, the G20/OECD Inclusive Framework on BEPS (“IF”) released two detailed “blueprints” in relation to its ongoing work to address the tax challenges arising from the digitalization of the economy (“Pillar 1”) and in relation to the tax rules designed to ensure that large multinational businesses pay a minimum level of tax on profits in all jurisdictions (“Pillar 2”). On 1 July 2021, 130 countries and jurisdictions, constituting vast majority of IF approved the “Statement on a Two-Pillar Solution to Address the Tax Challenges Arising From the Digitalization of the Economy” (the “Statement”). They agreed on a taxing right for market jurisdictions on at least 20% of the profits exceeding a 10% margin of large multinational enterprises (“MNE”) under Pillar 1 and a global minimum tax of at least 15% under Pillar 2.

21/07/2021page

Mazars in Hong Kong x abc Multiactive seminar: Addressing regulatory pain points using technology (20 July 2021)

On 20 July 2021, invited by Mr.SL Cheung of abc Multiactive (HK) Limited, our Managing Director of Mazars Consulting (HK) Limited, Mr. Ernest Yiu shared his insights about different common pain points faced by financial institutions in both areas of customer protection and compliance obligations; and illustrate how technology could help to tackle regulatory pain points. Moreover, Ernest participated in the panel discussion session with fellow panelists on effective KYC application in Greater Bay Area. The seminar was well-received by participants mainly from the banking industry.

19/07/2021page

APAC payroll newsletter - 2021 Q2

Payroll has a massive effect on every part of a business, as well as a company’s reputation. With a company that operates on an international scale, the requirements of the different countries can be complex and difficult. The fees and penalties that can be imposed as a result of failing to update company policies in accordance with regulations can hurt your business. To mitigate risk and help you stay abreast of the information you need, our APAC payroll newsletter - 2021 Q2 outlines what you need to know in regard to payroll, benefits, and human resources across the Asia-Pacific region.

15/07/2021page

Adele Yim featured in Hong Kong Business Magazine (July 2021)

As one of the judges for the Hong Kong Business Technology Excellence Awards 2021, our Partner and Head of Risk Advisory Services Adele Yim was featured in Hong Kong Business Magazine.

12/07/2021page

July 2021 - Increase in Statutory Holidays in Hong Kong

The proposed Employment (Amendment) Bill 2021 for increasing progressively the number of statutory holidays in Hong Kong from the current 12 to 17 days was passed by the Legislative Council on 7 July 2021.

11/06/2021page

Doing M&A in Asia Pacific: Tax traps and structuring opportunities

Seeking opportunities outside their country of origin is a natural part of the growth journey for many businesses. By opening up new markets and connecting with new customers, businesses can increase their sales and profits, while spreading their risk by not having to rely on any one single market.

10/06/2021page

Paul She on the Adjudication Panel of the 2020-2021 HKICPA Accounting and Business Management Case Competition (22 May 2021)

On 22 May 2021 our Practicing Director, Paul She, was on the adjudication panel of the 2020-2021 HKICPA Accounting and Business Management Case Competition for secondary school students.

08/06/2021page

Office news

07/06/2021page

Press release

Here is our press release of Forvis Mazars in Hong kong.

07/06/2021page

Diversity and inclusion

At Forvis Mazars, diversity is a key topic on our Group Executive Board’s agenda. It is how we have grown as an international group, deeply rooted in local territories and cultures, and it is how we operate today and how we plan for tomorrow - working as one inclusive team around the world, making decisions and defining our future path together. Diversity and inclusion are the foundations of the modern firm we strive to be.

03/06/2021page

Mazars appoints Sylvie Matherat global senior advisor to its financial services practice (1 June 2021)

• Sylvie Matherat was a member of the High Level Forum on the Capital Markets Union at the European Commission (2020); and previously held leadership roles at Deutsche Bank, Banque de France and the French Banking Supervisory Authority • She serves as an external advisor to Mazars, developing the firm’s regulatory advisory practice and supporting on key regulatory issues

03/06/2021page

Working through Brexit: the view of private business owners

27/05/2021 Lengthy negotiations and an unprecedented health pandemic put many business owners and managers on the back foot when it came to Brexit planning. With the UK’s exit official, they should now consider adapting their business models to match the new trading landscape, says Gareth Jones, Partner and Global Head of Privately Owned Business, Mazars. Below he discusses setting up new subsidiaries, supply chains and how the new UK-EU relationship will soon be ‘business as usual’.