Hong Kong Business News

The 5th Belt & Road Initiative Tax Administration Cooperation Forum (BRITACOF) hosted by the Inland Revenue Department concluded successfully today.

This three-day annual mega event in the international tax community attracted about 500 tax officials, tax experts, as well as representatives from international organisations, academic institutions and enterprises from nearly 50 countries and regions.

They discussed emerging tax issues and exchanged tax administration experiences under the theme "Deepening Tax Administration Cooperation for High-Quality Belt & Road Development".

Speaking at the closing ceremony, Commissioner of Inland Revenue and 5th BRITACOF Chairman Tam Tai-pang said the knowledge and insights gained from the forum are invaluable for respective jurisdictions to improve the tax systems and enhance the quality and capacity of tax administrations, which are vital to economic development.

He pointed out that the Belt & Road Initiative Tax Administration Cooperation Mechanism had achieved significant outcomes and reached a consensus on the work of deepening tax administration co-operation of the Belt & Road jurisdictions in the future.

The 6th and 7th BRITACOF will be held in Nepal in 2025 and Indonesia in 2026.

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