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In 2019, the outline of development planning for Guangdong, Hong Kong and Macao Bay area has been issued. In the construction of Guangdong, Hong Kong and Macao Bay area, Hong Kong has the advantages of "one country, two systems" and economic system in line with international standards, which provides important support for the national construction of a modern and open economic system in line with international standards. It is believed that under the guidance of the strategy of Guangdong, Hong Kong and Macao, the number of Hong Kong company registrations will further increase.
According to the Hong Kong Companies Ordinance, Hong Kong companies need to make accounts and tax returns within a specified time. What are the advantages of making accounts and tax returns for Hong Kong companies?
Registered Hong Kong company
Conducive to the long-term operation of the company
If Hong Kong companies want to operate for a long time, it is one of the necessary conditions for them to report their accounts accurately and normally. According to the provisions of the Hong Kong Companies Ordinance, Hong Kong companies that fail to meet the requirement of zero return should make their accounts and tax returns in a timely manner after receiving the tax returns from the tax bureau. After the CRS system was formally implemented in Hong Kong, tax system management became more strict. More severe penalties will be imposed on Hong Kong companies that do not pay taxes in accordance with their accounts.
Good for bank financing
As one of the international financial centers, Hong Kong's financial service industry is quite developed. In recent years, it has become a common practice to use Hong Kong's establishment of companies as a settlement and financing platform. If Hong Kong companies operate well, it will play an important role in easing the pressure of cash flow and reducing the financial cost of domestic enterprises by taking advantage of the relatively loose credit conditions of bank trade financing.
However, in the process of bank financing, it is very important for Hong Kong companies to have a good reputation and make normal accounting and tax returns. Hong Kong companies have tax audit reports for three consecutive years, which show that Hong Kong companies are profitable, which is conducive to the credit audit of Hong Kong banks.
For Hong Kong immigrants
In fact, it is not difficult to immigrate to Hong Kong. As long as we meet the basic conditions of Hong Kong's excellent talents, we will have the chance to immigrate to Hong Kong successfully: that is, Hong Kong company has a real office address and has Hong Kong employees. Of course, it's a key word for Hong Kong companies to maintain a good operating condition. Therefore, it's beneficial for Hong Kong immigrants to truthfully make accounts and tax returns for Hong Kong companies.
Facilitate the opening of L / C
Hong Kong companies audit their accounts every year, which is conducive to the issuance of L / C. when issuing L / C to customers, banks will review the audit report of customer concept, and then decide to issue credit limit to customers.
Favorable for the listing of the company
Hong Kong's capital market has always been a bridge between mainland enterprises and the international capital market. It is also an important window for mainland enterprises to go overseas and face the international market. Many mainland and listed companies choose to complete IPO through Hong Kong platform. If Hong Kong companies want to go public in the future, it is very important to make a true accounting and tax return.
In a word, compared with domestic companies, Hong Kong companies are more relaxed in accounting. However, we need to remind you that in the era of CRS, Hong Kong companies will face certain penalties if they do not do accounting. In serious cases, they may cause the company to be unable to operate normally and the bank account will be frozen.
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