EY Young Tax Professional of the Year 2023

Background:

The EY Young Tax Professional of the Year is an international competition designed to reward young talents and foster the next generation of tax leaders. As one of the yearly highlights of EY Hong Kong, the competition provides an opportunity for students to share experiences with people from a range of backgrounds and cultures. By bringing together different ideas and students from all over the world, the competition aims to demonstrate how much the tax profession has changed today and how business is managed in different cultures.

The first phase of the competition took place in Hong Kong. During the first round, shortlisted participants were challenged with their technical abilities and wider commercial strengths. The Hong Kong finalists were invited to join the Greater China final.

 

Website / Image URL:

https://www.ey.com/en_gl/careers/ey-young-tax-professional-of-the-year

 

Award(s) and Awardees:

First-runner up:             Mr. LAU Chun Ho Darren, BBA(Acc&Fin), Year 4 (2nd left)

Second-runner up:        Ms. LAM Sin Yu, BBA(Acc&Fin), Year 3 (1st left)

 

 

Students Sharing:

“We were plunged into the semi-final and final phases of the competition in the latter half of April. This challenged our time management prowess, particularly for those in the twilight of their academic endeavours. Within a diverse assembly of students from multiple universities, the contest emphasised both our individual competencies and collaborative undertakings. The initial and final rounds examined our grasp of profit tax, permanent establishment, and DTA, alongside our presentation skills and analytical acumen. The semi-final, in contrast, focused on our ability to flourish as a united force, exemplifying adaptability, accountability, and productivity.

The confluence of inter-university collaboration and randomised groupings, coupled with strict time limitations and the mandate for each participant’s contribution to the presentation, created an invigorating experience. This impelled us not only to probe further into the tax consequences of complex decisions but also to reevaluate our approach to fostering enhanced coordination and communication within our teams to achieve outstanding outcomes ahead of deadlines.

Throughout the competition, we forged friendships and shared insights with like-minded individuals, creating a lasting bond that extended beyond the contest itself. The preparation for the group presentation and the subsequent exchange of ideas contributed to our intellectual growth. As the final individual presentation unfolded, we faced a tempest of pressure, our resolve tested by the case and impromptu inquiries from the judges’ discerning gaze. Composure was crucial to overcoming these real-life challenges.

Beyond the allure of the cash prize and the honour of representing Hong Kong in the Greater China final, the internship offer with EYHK presented an invaluable chance to explore the tax industry further. The EY Young Tax Professional of the Year 2023 was a defining moment in our university lives, as it allowed us to apply critical thinking to complex, cross-border tax issues and showcase our insights before esteemed professionals. This rewarding journey not only broadened our understanding of the international tax landscape but also granted us a platform to showcase our abilities and potential. In essence, we eagerly anticipate building upon this foundation to evolve into world-class, game-changing professionals.”

 (By LAU Chun Ho Darren)

 

“Throughout the course of the contest, I was not only challenged to demonstrate my theoretical expertise but also encouraged to apply my creativity and critical thinking skills in order to identify beneficial tax structures, thoroughly investigate potential tax risks, and develop strategic tax planning proposals that effectively enhance tax efficiency for clients. Engaging in this competition has proven to be an enriching experience, significantly deepening my comprehension of the multifaceted tax implications that arise in diverse scenarios.

The competition places significant emphasis on fostering collaborative teamwork and individual presentations, both during the semi-final and final rounds, providing me with invaluable opportunities to refine my communication and presentation skills. It has played a pivotal role in strengthening my ability to be a strong player in a team, fostering a sense of camaraderie and collective accomplishment. The final round of the competition, in particular, stands out as a challenging yet rewarding experience, as it requires candidates to not only possess exceptional analytical acumen but also deliver a well-crafted proposal slide within a limited timeframe, all while impromptu inquiries from the panel of judges. This experience has tested my ability to think on my feet, further developing my problem-solving skills and enhancing my capacity to handle unexpected challenges.

Furthermore, the competition has served as a true test of my multitasking capabilities and time management skills. As the competition coincided with my preparations for the final examinations, which were scheduled for early May, I was required to strike a delicate balance between dedicating ample time and effort towards both endeavours. This experience has honed my ability to effectively manage my time, prioritize tasks, and maintain a high level of performance in the face of competing demands.

I am immensely grateful for the generous sponsorship provided by EY Partner, Ada Ma, as well as for the invaluable teaching on Hong Kong Taxation that I received from Dr. Christina Ng at HKU Business School. Participating in this esteemed contest has not only deepened my understanding of the ever-evolving landscape of tax policies but has also facilitated the development of essential skills that are indispensable for a successful career in the field of professional advisory services.”

 (By LAM Sin Yu)

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