Hong Kong Tax Return (“PTR”), a “Nil” PTR fillings

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Here is another case study when your company was incorporated on 29th February 2012 – here is an manual what the Inland Revenue Department Requires (IRD) once you company is in due to file the Tax Return (“PTR”).

 

Your company was incorporated on 29th February 2012. According to the statutory requirement under the Hong Kong law, your company is required to perform the first audit after 18 months from the date of incorporation. Hence, may I suggest you choose (say 31st December 2012 or 31st March 2013) to be your financial year end date. The first audit will then cover a period from 29th February 2012 to 31st December 2012/ 31st March 2013.

 

If your company has been commenced business, you need to prepare the following documents (up to 31 December 2012/ 31st March 2013):

 

          All sales invoices/ consulting service invoices;

          All purchases invoice/ subcontractor’s invoices;

          All expense receipts;

          All bank statements;

          General ledger and management account (i.e. Trial Balance, Balance Sheet and Income Statement). If this one you cannot provided, we can provide bookkeeping service to handle it.

 

If not yet commenced business, when Profits Tax Return (“PTR”) received, a “Nil” PTR can be filed to IRD, Hong Kong Tax Authority, with the declaration of not yet commence business by the director or company secretary of the company. Even if the company is not yet commenced business, in according to the statutory requirement (Hong Kong Companies Ordinance), the company still need to prepare an annual audited financial statements..

 

Normally, Inland Revenue Department (IRD), the Hong Kong Tax Authority, will issue Profits Tax Return to the company which incorporated over 18 months.  The first Profits Tax Return should be submitted within THREE months from the date of issuance.

Startupr is not a CPA (Certified Public Accountant, registered HKICPA – Hong Kong Institute of Certified Public Accountants) firm. CPA services are provided by independent CPA firms.

Startupr is merely acting as an agent in connecting your company and the CPA who has agreed with us that they will provide auditing services. In no way is Startupr acting as a CPA firm or providing auditing service in any way and your solicitor-client relationship is with the CPA and not Startupr. CPA is independent of Startupr and is not an employee of Startupr.
Startupr is not a CPA firm. Startupr is an agent for connecting Hong Kong companies with CPA. Startupr is not a CPA firm, is not engaging in an auditing practice and Startupr does not act as a CPA firm. Startupr does not provide auditing advice.
Nothing on Startupr is audit or CPA advice and you cannot rely on it. You should always consult an audit expert to get certainty of your accounting issues and obligations.

If required by client, Startupr will refer client and coordinate with independent CPA for provision of audit services – Startupr not responsible for actions or omissions of such CPA.