According to Hong Kong government's provisional estimate, the value of total retail sales in January 2018 on a year-on-year basis has increased by 4.1%. In contrast, the value of sales in supermarkets has decreased by 13.3% for the same comparable period in January 2018. Some suggest that the spending habits of Mainland travelers have changed in recent years because of the Central government's policy, which has attempted to reduce the import tariffs on consumer goods, and also because of the growth in e-commerce. To what extent do such developments affect Hong Kong's retail sector? And how would uncertainties related to such global events as a US-China trade war would impact the outlook for retail in Hong Kong?
The Chamber's Retail and Tourism Committee is pleased to have invited Mr Andy Leung, Partner, Indirect Tax Service of Ernst & Young (China) Advisory Ltd to speak on 25 April. Andy will discuss the changes and challenges that an evolving business environment could create for retailers and related sectors in Hong Kong, and key areas where businesses could pay attention to for capturing any opportunities hidden in the evolving business environment.
Andy has been providing tax advisory services since 2003 in Hong Kong, Shenzhen, and Los Angeles. He has more than fourteen years of experience in China tax. He has assisted many clients in designing and implementing cross-border business arrangements from tax efficiency perspective.
Andy is the member of the Association of Chartered Certified Accountants (ACCA) and Hong Kong Institute of Certified Public Accountants (HKICPA). He is also a qualified Hong Kong Certified Tax Agent (HKCTA) with Qualification to Practice in Qianhai.
Andy has spoken at the Peking University and National Accounting Institute on the subject of indirect tax in the capacity as guest lecturer.