Tax compliance service
in Hong Kong.
Keep your taxes in check with our reliable tax compliance services. We are well versed in dealing with the Inland Revenue Department (IRD) and will fulfil your tax filing obligations on time, accurately report your assessable income and help minimise your tax liabilities.
On-time filings & returns
We make sure to prepare, calculate and file your returns accurately and on-time, helping you always stay compliant and avoid penalties or late fees.
Always up-to-date
Our tax team constantly stays up to date with changes in tax regulations, so you do not have to – both locally in Hong Kong and even on the regional level for companies operating across Asia.
Strategic tax advisory
Besides meeting your statutory tax obligations, we can offer strategic tax advice on optimising your tax expenses, decreasing the risk of double taxation, implementing tax incentives and more.
Corporate tax compliance.
Profits tax return
We can assist with the preparation of your annual Profits tax return, including distinguishing deductible and non-deductible expenses as well as identifying capital gains, which are not taxable and determining non-taxable offshore income. We will also examine your eligibility for capital allowances on your plant and machinery and business premises. What is a profit tax?
Profit tax in Hong Kong
Every company in Hong Kong must file a Profits Tax return with The Inland Revenue Department (IRD), along with the audited financial statements of the company. Individuals, sole proprietorships, partnerships and property owners are also required to file annual Profits Tax returns.
The IRD issues tax returns on 31st March each year to all persons and corporations required to file a tax return. Such persons and corporations should complete and file tax returns to the IRD within a month, together with any necessary documentation. Extensions of time for lodgement can be requested – late lodgement (without the IRD granting an extension) will result in penalties being levied on the company. For newly incorporated companies, Profits tax returns are issued within 18 months of the business commencement date of companies in Hong Kong.
Employer’s return
We can assist with the completion and lodgement of these returns to the IRD. The IRD will send each employer in Hong Kong a Form BIR56A at the beginning of April each year. The form is completed and submitted by the employer reporting remuneration and pensions paid to their employees for the previous calendar year, and is to be returned to the IRD within one month upon receiving it. Additionally, the employer must also complete Form IR56B for each employee. It is a salary and pension report that employers may submit in paper or a digital format.
