Accounting & Tax
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We offer Accounting and Tax Compliance package for your Hong Kong companies at a competitive price.
HONG KONG TAX SYSTEM
Hong Kong adopts a territorial source principle of taxation. It means that only profits derived from trade, profession or business in Hong Kong are taxable. Profits sourced elsewhere are not subject to Hong Kong Profits Tax.
TWO-TIERED RATES REGIME – Benefit to your business
Apart from simple and low tax environment in Hong Kong, from year of assessment 2018/9, the profits tax rate for the first $2 million of profits of corporations will be lowered to 8.25 per cent. Profits above that amount will continue to be subject to the tax rate of 16.5 per cent. A tax-paying corporation may save up to $165,000 each year. There is no sales tax or VAT, no withholding tax, no capital gains tax, no tax on dividends, no estate tax. Such simple, low and competitive system makes Hong Kong an ideal jurisdiction for tax planning.
ACCOUNT & TAXATION
All legal entitles incorporated and registered in Hong Kong are required to maintain proper records and books of accounts, which shall be retained for at least 7 years. Audited Financial Statement must be prepared in accordance with Financial Reporting Standards framework (HKFRS) based on the International Financial Reporting Standards (IFRS).
EMPLOYER'S RETURN
The company shall report the number of local employee in the Employer's return which shall be submitted upon request of Inland Revenue Department.
PROFIT TAX RETURN
Profits Tax Return shall be filed with Inland Revenue Department upon request in a timely manner supported by Audited Financial Statements.
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