The Inland Revenue Department (“IRD”) will issue tax returns to individuals, sole proprietors, partnerships, property owners and limited companies. Such persons and corporations should complete and file the tax return within 1 to 3 months from the issue date of the tax returns together with the required documents to the IRD. Profits tax returns will be issued within 18 months from the commencement date of business of companies in Hong Kong. Should the person haven’t received profits tax returns from the IRD, he/she should notify the IRD of its chargeability of Hong Kong Profits Tax.
Tax Returns shall be completed by the taxpayers and returned to the IRD. However, taxpayers usually do not have sufficient professional knowledge and are liable to more tax liability than necessary if the profits tax returns have been wrongly completed. Some taxpayers have even been prosecuted and fined due to omissions of information to be included in the returns. We are experienced in handling tax issues and confident to minimize your risk of filing problematic tax returns.
We have years of experience in taxation consultancy which enhance our efficiency of handling various individual and corporate taxation issues thus your time and resources can be focused on the development of your company’s own business.
Hong Kong adopts "Territorial Source Principle", all persons or companies carry business in Hong Kong are liable to pay the tax in Hong Kong. (whether the person or company is incorporated in Hong Kong or not)
Hong Kong major tax divided into 4 categories:
- Profit tax
- Salaries tax
- Property tax
- Stamp duty
Hong Kong does NOT have
- Sales tax
- Value added tax (“VAT”)
- Dividend tax
- Capital gain tax
The person in charge of the business shall submit a tax return to the Inland Revenue Department every year.
The tax return of the limited company or partnership is generally posted in April of each year and the salaries tax return is usually posted in May of each year from Inland Revenue Department.
The deadline for submission of tax returns is 1 month.
Our services including:
- Providing tax advisory and tax planning (To minimize tax liabilities in a legitimate way)
- Acting as Tax Representative (Individual or Companies)
- Filling the tax return, tax computation and declare
- Profit tax
- Salaries tax
- Property tax
- Employer's Return of Remuneration and Pensions
- Applying for the extension of submission of tax return
- Applying for holdover of provisional tax
- Assisting for objection of tax assessment
- Assisting for handling the tax queries from IRD
- Assisting for applying the offshore income claims exemption
- Conducting tax field audit and investigation
Should you have any enquires about Tax Consultancy Service, please contact us and we will provide FREE consultation service.