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AbacusHKCPA - Company Formation and Company Registration by Hong Kong Accountants (HKCPA)

Abacus CPA
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FAQ's

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Hong Kong Company - Private Limited Company

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Tax Filing

1st tax filing request

  • If our company is the register address and company secretary, the request will be sent to us;
     
  • We'll advise client about the request :
    • Advise about the deadline;
    • Advise possible annual financial year end to use - usually using 31/3 each year;
    • Seek client approval whether appoint us to handle the work;
    • Collect info about business operation - to determine how to handle the filing;
       
  • Collect info about business operation
    • One of the key info to clarify is whether client has any business activity started yet in HK;
    • Considering HK adopts territorial concept of tax, no tax is payable if there is totally no business activty in HK;
    • Of course, the tax rule adopts tax jargon and it is written in legal terms.
      Therefore,
      • If need to have thorough reading of the exact info,
        Please read this tax concept ;
      • If need to have general idea, the testing criteria will be :
        • Any operational office in HK ?
        • Any staff hired in HK ?
        • Any customers located in HK ?
        • Any suppliers located in HK ?
        • Any goods shipped into HK ?
           
  • Audit report and offshore tax exemption application
    • Audit report is about the numbers - to calculate how much profit or loss is generated;
    • Tax exemption is focus on how the business is operated - to see whether the income is earned in HK;
       
  • Duty to keep proper accounting record
    • No matter how the tax filing is handled, it is always a company's duty to keep proper record of all income and expenses;
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AbacusHKCPA - Certified Public Accountants base in Hong Kong (HK) - ACCA, HKICPA, providing services of

company formation, financial management, business advisory, accounting and auditing.