The offshore tax claim – Hong Kong company

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:

1) First PTR – file first PTR

2) Second PTR – before the IRD request you to provide the supporting documents, you might be still asked to file the second PTR

3) IRD notice to claim the tax exemption – Most of the time in your 3rd year (after you submit 2 PTR’s), the IRD asks you to provide them supporting documents to claim the tax exemption status

4) Collecting all company supporting documents (see the note below) and tax exemption letter

5) Submission to IRD

Note:

You will have to submit following documents. Bear in mind this is just a part of the company documents you will be asked to submit.

1) Details of the Company’s establishment in Hong Kong and Overseas.

2) Details of Intermediary (if any)

3) Detailed description of the operation

4) Name of the product, detailed description

5) Representative transaction (and all flow)

6) Reasons that the income is not generated in Hong Kong

7) others

Once you submit all supporting documents and receive the tax exemption approval, This is one-off, you don’t need to reply for such a letter each year however IRD might review your status after 5 years or when your company’s business nature is changed.

We can also keep you update it on yearly basis after the tax exemption approval.

 

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.