The Audit Peak Time of Hong Kong Company is Coming

Do HK company accounting in time

Hong Kong company need to make the first tax declaration 18 months after the establishment. And then the tax declaration is made in accordance with the company's fiscal year, once every 12 months.

Which companies need to audit their accounts?

 01 

The bank account has business records;

 02 

Government customs and logistics companies have kept import and export records;

 03 

Purchase and sales relations with Hong Kong merchants;

 04 

Has hired employees in Hong Kong;

 05 

Allow or authorize the use of patent, trademark design, etc., in Hong Kong;

 06 

To permit or authorize the use of movable property in Hong Kong for payment of rent, etc.;

 07 

Consignment sales in Hong Kong;

 08 

Other profits derived from or derived from Hong Kong

When will be audited?

1

Hong Kong companies declare tax on an annual basis, that is, they only need to file tax once a year.

2

For newly established companies in Hong Kong, the Tax Bureau will automatically extend the deadline to the 18th month for the first year, and every subsequent year will be once every 12 months.

3

If your company has received the tax form, please remember to pay attention to the time of the tax form, do not be overdue!

4

The first tax form must be declared within 3 months after receipt. The company that has already made the Posting can apply to the tax bureau for extension according to the company's annual settlement date.

Materials required for audit:

1. Fee notes

2. Monthly bank statement (N+1)

3. Basic information of the company

4. Purchase and sales contract

The audit and tax declaration of Hong Kong companies is divided according to the business of Hong Kong companies. This procedure is divided into three aspects:

01

Account management:

After a Hong Kong company has operated for one year, it is bound to produce business documents and accounting data such as bank statement, business documents, commodity entry and exit details, transportation vouchers, etc. Accounting is to match commercial documents and accounting data one by one, so that it can accurately reflect the business situation of the business entity in the past one year.

02

Audit:

After the accounting documents are matched with the business documents, the Hong Kong certified public accountant will check each transaction activity, confirm that there is no false correlation or false transaction, and give an opinion on these circumstances (including unqualified opinion, partial opinion, no opinion), which is called an audit.

03

File tax returns:

The Hong Kong certified public accountant confirms the transaction, calculates the profit of the business entity, and reports the profit and the amount of tax payable to the Hong Kong Inland Revenue Department.

What are the risks of not auditing accounts?

1

Maintain Hong Kong bank accounts to prevent account freezing

2

Establish friendly relations with the government and promote the development of enterprises

3

Deal with the risks of CRS information exchange

4

Prove the legal operation of the enterprise, improve the credit degree and facilitate the development of the business

5

Basis for enterprise financing, financing and listing.

No matter large or small company, we can not ignore the annual audit of Hong Kong company and do accounting audit tax declaration problem!

Solutions professional accounting audit business!

Signed by a Licensed Accountant in Hong Kong!

Plan properly!

Full set of financial processing to issue perfect financial statements!

Return Profits Tax and Salaries Tax!

Process penalty letters, court letters, tax estimates!

If you need any more information, feel free to contact SOLUTIONS. We will be glad to assist you.

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