Limited companies in Hong Kong receive Profits Tax Return issued by the Inland Revenue Department every year, and they are obliged to submit an audit report and tax return audited by a Hong Kong Certified Practising Accountant to the Hong Kong Inland Revenue Department within a time limit. If the tax return shows that the limited company is profitable, the Inland Revenue Department will issue a tax notice to the limited company to pay the relevant taxes. If a company fills in wrong information on the tax form or omits individual items, or submits the tax return late, it may violate the tax regulations, and the company may be prosecuted and fined by the Inland Revenue Department.
Regular bookkeeping for the company
Having a Certified Public Accountant to prepare an audit report
Filing profits tax returns
Pay Profits Tax
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StartupCow knows that starting a business is always difficult, and the cost of hiring an accounting clerk is too high for start-up. We solve the problem of annual accounting and tax returns for our customers at a reasonable price.
Our accountants understand the clients' business, follow up the client's inquiries carefully, and formulate the best accounting and tax declaration plan for the clients.
Setting up a Hong Kong company requires a commercial address. However renting a Hong Kong office has been well-known for its expensive price.
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When you establish your own business, a business bank account becomes the most important window between you and your business partners. Under the tightening of Hong Kong regulations, some merchants may hit the nail when opening a business bank account due to the stricter bank scrutiny . StartupCow provides bank referral service and company account appointment services. We help customers find the right bank based on the business nature of each client to increase the chance of successfully opening a company account.
Section 475(2) of the Companies Ordinance (Cap. 622) restricts the sole director from acting as the company secretary. Also, section 475(3) of the Companies Ordinance (Cap. 622) states that private company having only 1 director should not have a body corporate as its company secretary if the director of that body corporate is the sole director of private company at the same time.
A limited company must prepare accounting accounts, appoint a certified public accountant to arrange an audit, and submit the audit report, profits tax calculation table and profits tax return to the Inland Revenue Department.
Generally speaking, only Hong Kong limited companies need to submit the audit report when filing tax returns. In addition, if the profit of a sole proprietorship or partnership business exceeds 2 million, the tax return must also be accompanied by a balance sheet and a business profit and loss statement certified by a certified public accountant. File a tax return.
What documents are required to prepare an audit report?
Do I need to file a tax return if my company has not operated in the past year?
How long does it take to submit a tax return to the Inland Revenue Department?