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Close to 2,000 members of the Taxation Institute of Hong Kong will now be able to convert their existing designations following a licensing agreement with a leading professional tax body.
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Chartered Tax Adviser designation lands in Hong Kong
15 June 2020
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The UK’s Chartered Institute of Taxation has granted the Taxation Institute of Hong Kong (TIHK) the licence to use the Chartered Tax Adviser (CTA) designation in Hong Kong, a culmination of discussions between the two bodies which began in 2018.
This follows the granting of the same right to the Tax Institute in Australia and the Irish Tax Institute (ITI) in 2012.
According to the Chartered Institute of Taxation, the CTA designation is “recognised and respected internationally as a mark of technical excellence and professional integrity”.
CTAs are required by their code of practice to only practise in areas in which they have expertise, geographically and technically.
Under the agreement, nearly 1,900 members of TIHK will be able to convert their existing Certified Tax Adviser qualification to Chartered Tax Adviser.
There are more than 7,000 members of the Tax Institute in Australia with the CTA designation, as well as 19,000 members in the UK, and 5,000 more in the Republic of Ireland.
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The TIHK will also change the name of its qualifying examinations from Certified Tax Adviser to Chartered Tax Adviser within 12 months.
“We are delighted to become part of the community of Chartered Tax Advisers, a highly recognised international qualification in the tax profession,” said Jeremy Choi, president of the Taxation Institute of Hong Kong.
“We will be joining with our partners in the UK, Australia and Ireland to promote excellence in tax advice and education around the world.
“We hope in due course that tax bodies in other countries will join us. We may not share a common tax code, but we can, and do, share common values, interests and standards of professional practice.”
In Australia, the Tax Institute president Peter Godber welcomed the new agreement, noting that it would help raise the profile of the designation internationally.
“We look forward to working with the team in Hong Kong to ensure professional standards in our respective tax communities are maintained at the very highest standards and to collaborate on initiatives which support the knowledge and learning endeavours of practitioners seeking to achieve this mark of excellence in tax,” Mr Godber said.
“Australia’s tax community has benefited from the CTA status since 2012. Our ability to confer the CTA designation upon tax professionals who meet the exacting standards of this qualification has served to reinforce the Tax Institute’s role as the leading forum for the tax community in Australia.
“It is incredibly exciting that TIHK can join us in expanding the global community of CTAs through this new agreement.”
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