accounting

Your Hong Kong company might be asked to pay the Profit Tax Return however if you would like to request the Inland Revenue Department (IRD) for the tax exemption status, you should follow up these steps:

Double Taxation Agreements(DTAs) in Hong Kong prevent double taxation and fiscal evasion, and foster cooperation between Hong Kong and other international tax administrations by enforcing their respective tax laws.  Only residents of Hong Kong or the other DTA jurisdiction will be affected by a DTA.

Hong Kong Inland Revenue Department: Profits Tax Return updates for Hong Kong Limited Company

Read a case study regarding accounting/auditing of a Hong Kong Company. Company was set up on December, 2013. Dear xxx, As your company has incorporated on 17th September 2013 and determined 31st March as the company’s financial year ended date, the first Profits Tax Return (“PTR”) normally issue ...

Let us explain the requirement & procedure of accounting & audit issues and HK taxation as well. This is a case study for a company incorporated in September 2013. Accounting & auditing According to the statutory requirement under the Hong Kong law, the first set of financial statements should be ...

Here is an explanation how to gain the offshore status for Hong Kong Limited company. We demonstrate the offshore principles on Hong Kong Limited company which was registered on 11th of October 2013. As the company has incorporated on 11th October 2013, the first Profits Tax Return (“PTR”) would issue ...

There is certain period you should submit the PTR (Profits Tax Return) to IRD (Hong Kong – Inland. Revenue Department). If you fail to do so, you may be required to pay a penalty. However, you can there is a way to waive the penalty. Here is an example of an email sent from an … READ MORE

Accounting and auditing According to the statutory requirement under the Hong Kong law, the first set of financial statements should be prepared for period covering not more than 18 months from the date of incorporation. Hence, may I suggest you choose (say 31st December or 31st March) to be your financial year ...

Startupr is working with a CPA firm to ensure all requirements of your Hong Kong company are fulfilled. Here is an example of Q&A of a client who asked whether it is necessary to get audited accounts if the overturn is less than 2,000,000 HKD and if signature of the director is required. Q: Hi, … READ MORE

As you are foreigner and under foreign employment of XYZ Limited (Hong Kong Limited company under the Hong Kong companies ordinance), the basic principles to determine whether the salaries received is subject to Hong Kong Salaries Tax as below:  1.      If you visit to Hong Kong no more than 60 days in a calendar ...