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These three points need to be paid attention to when Hong Kong companies file accounts and tax returns


As an international financial center, Hong Kong has perfect legal system, simple tax system, low tax rate, complete infrastructure and communication facilities, and has been rated as "the most free economy in the world" for many times in a row. By virtue of its uniform advantages, Hong Kong has attracted many entrepreneurs around the world to register companies and invest.

Hong Kong company tax declaration

Hong Kong has unlimited business opportunities and is a platform for global economy and trade. Therefore, it has great advantages to register Hong Kong companies. After applying for registration, Hong Kong companies need to make accounts and tax returns to maintain the normal operation of Hong Kong companies. In order to give investors a better understanding of Hong Kong's business environment, business management and related knowledge of accounting and tax treatment, the panel made several points for attention:

1. Preparation of Hong Kong company before tax declaration

As we all know, Hong Kong companies usually make their accounts and tax returns on an annual basis. Hong Kong companies should do a good job of accounting when they have their first business, so as to prepare for future tax returns audit. If we do the bookkeeping work before the audit of tax returns, it is likely to lead to overdue annual tax returns.

Hong Kong companies need to submit corresponding bills and invoices for tax declaration, so the company must pay attention to the sorting and classification of bills and invoices at ordinary times. For example, company bills can be divided into long-term preservation, short-term preservation, classified collection, etc.

2. Audit and tax return time of Hong Kong company

① Hong Kong companies will receive the first profits tax form issued by the tax bureau about 18 months after their establishment, and they will start to file tax returns after receiving it. The first return will be automatically extended from one month to three months from the date of the return.

② Tax return time of non newly established Hong Kong company: submit audit report and tax return on time according to the company's financial year-end date.

③ There will also be some special circumstances that cause Hong Kong companies to fail to receive the profits tax form from the Hong Kong Tax Bureau during the tax declaration period, which does not mean that Hong Kong companies do not need to make account declaration, and Hong Kong companies must be prepared to make account declaration.

④ If a Hong Kong company is unable to make an account and return tax within the specified time limit, a penalty will be issued. In order to avoid overdue, it is suggested that the company should start to prepare account preparation and audit before receiving the tax returns. Especially for the first time, Hong Kong companies that make account audit returns, it is better to choose the accounting reference date suitable for the company.

3. Materials to be submitted by Hong Kong company for account making

① Government documents: two originals of the articles of Association (Note: it is only necessary for the new company to make accounts in the first year, not for the old company)

② Make the first 3-5 purchase and sales invoices and 1-2 month statement of the next year

③ Last year's audit report and tax analysis

④ Submit all asset and expense documents of the enterprise

⑤ All purchase and sales contracts and invoices

⑥ All other documents related to accounting

⑦ Bank documents: monthly statement, water bill, other correspondence

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