- How serious are the consequences of not doing accounts and tax returns after registering a Hong Kong company? -
01
Enterprises do not carry out annual audit and tax declaration, and money without income sources will be regarded as "black money".
Hong Kong incorporated companies do not file tax returns resulting in mandatory tax withholding/freezing of Hong Kong bank accounts
02
The company will be forced to cancel, incurring an overdue penalty
03
Directors will be put on an entry-exit blacklist and could be jailed for up to six months
04
Mobile：+852 4470 1123
- Which companies must be audited? -
The bank account has
been recorded
To allow or authorize the
use of patents in Hong Kong,
Other profits generated in
Hong Kong
Employees have been hired
in Hong Kong
Permitted or authorized for
use in Hong Kong
Have opened a Hong Kong
account in Hong Kong None
Government customs, logistics
companies have stayed
Consignment for sale in
Hong Kong
Purchase and sales
relationship with Hong Kong
customers
- What should I do when I receive CRS/ Bank investigation documents? -
Note: Other banks will also continue to issue relevant investigation documents. Many Hong Kong companies receive business investigation letters (electronic/paper version) from banks, which are usually sent to online banking or email.
Platform unguaranteed
Platform business outsourcing, franchise service, accounting personnel are not employees of the company, rights and interests cannot be guaranteed, service details are not good to control, and financial risks are endless.
Only focus on marketing business, accounting expertise is not solid, financial mistakes are common.
Unprofessional business
The platform only focuses on online transactions, regardless of offline services after signing the order, small workshops under the entity, complaints have no door, customers can only eat dumb losses.
The platform adopts outdated management and control process, the financial details cannot be clearly checked, the account processing is not rigorous, the bills are left out of risk insurance, and the after-sales cannot be guaranteed.
Offline disentity
There is no special management after sale
- There are too many accounting audit platforms for agents, do not know how to choose? -
- Documents required for handling -
- Bookkeeping/Auditing/Tax Filing Process for Hong Kong companies -
Tel：+852 3962 2799
Under what circumstances do Hong Kong companies not need to pay tax?
Do I need to pay a lot of tax in Hong Kong tax declaration?
What are the penalties for overdue tax returns?
After the establishment of a Hong Kong company, when do I need to declare tax?
Hong Kong companies are taxed according to the source of their profits. If the profits do not come from Hong Kong, they may not be taxed. The Hong Kong Inland Revenue Department generally requires taxpayers to provide sufficient relevant documents to prove the authenticity of the above issues so as to determine the source of the profits earned by taxpayers.
Every Hong Kong company will receive a profits tax return from the Hong Kong Inland Revenue Department about 18 months after its establishment. The time when the Hong Kong Inland Revenue Department issues the tax return is April every year. Not every company has this tax return, which is issued by the Inland Revenue Department in the form of random checks.
First time overdue penalty 1200HKD; 3000HKD penalty for second delay;
Every Hong Kong company will receive a profits tax return from the Hong Kong Inland Revenue Department about 18 months after its establishment. The time when the Hong Kong Inland Revenue Department issues the tax return is April every year. Not every company has this tax return, which is issued by the Inland Revenue Department in the form of random checks.
- Hong Kong companies do tax returns Q&A -
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