Accounting and Taxation Service
Professionally handle everything related to the Inland Revenue Ordinance

Express service speeds the procedures up to around 4-6 weeks (including preparation and completion of the final audited financial statements). Still the exact time would be affected by comprehensiveness & completeness of information and documents provided and the responsiveness and time taken for documents confirmation and sign back.

Clients have to provide bank statements, sales invoice, purchase order, invoices on general expenses, inventory list, fixed assets, tenancy agreements, investments etc.

《稅務條例》第 16(1)條規定，在確定任何課稅年度的應課稅利潤時，為產生該應課稅利潤而招致的一切支出和開支，均須予以扣除。
另外可參考保存業務紀錄須知:
https://www.ird.gov.hk/chi/pdf/c_51c_pam.pdf

Your net chargeable income, i.e. assessable income after deductions and allowances, is charged at progressive rates. But if what you need to pay on the basis of your net chargeable income exceeds the tax charged at standard rate on your net total income, i.e. assessable income after deductions but before allowances, then you have to pay the lower amount of tax.
Assessment year refers to April 1 to March 31 of the following year. Tax payable is computed on the net chargeable income an individual from April 1 of the previous year up to March 31 of the current year. You may refer to the following link for more information on the tax rates and computation of salaries tax:
https://www.ird.gov.hk/chi/pdf/pam61c.pdf

You will have to file the salary tax return within a month from its issue date. If you fail to do so, the Inland Revenue Department may compute and issue your tax demand note based on an estimated net chargeable income and you may end up paying a higher amount of salary tax. You might also be prosecuted or fined for the delay in filing tax return.

All companies will receive their first Profit Tax Return from the Inland Revenue Department 18 months from their incorporation date, then in every April in the subsequent years.

Yes. BBC’s Accounting and Auditing service has included the completion and filing of the Profit Tax Return for you.

The new Companies Ordinance (Cap. 622 Part 9 Accounts and Audit) makes it a requirement for all companies, except dormant companies (session 447), to prepare and file audited financial statements and reports for each financial year. Details can be referred to in the following link:
https://www.cr.gov.hk/tc/companies_ordinance/docs/NewCO_C622_HL_Part9-c.pdf

Yes. You have to complete and file the Profit Tax Return with the Inland Revenue Department after receiving it, even when your company might still have not commenced business.

Even so it is every company’s responsibility to maintain their accounting books. In case there is any profit generating within an assessment year, the company has to request the Inland Revenue Department to issue the profit tax return form and complete the filing accordingly.

A flat rate of 16.5% for corporations and 15% for unincorporated businesses for assessment years 2008/09 onwards (Note)

Two-tiered rates (suitable for year of assessment of 2018/2019 onwards) For corporations, 8.25% on assessable profits up to $2,000,000; and 16.5% on any part of assessable profits over $2,000,000 For unincorporated business: 7.5% on assessable profits up to $2,000,000; and 15% on any part of assessable profits over $2,000,000

自2018/19年度起, 在利得稅兩級制下，法團及非法團業務（主要是合夥及獨資經營業務）首二百萬元應評稅利潤的利得稅率將分別降至8.25%（稅務條例附表8所指明稅率的一半）及7.5%(標準稅率的一半)。法團及非法團業務其後超過二百萬元的應評稅利潤則分別繼續按16.5%及標準稅率15%徵稅。

There is not necessarily tax payable every year, but it is the responsibility of every limited company to file profit tax return. The amount of tax payable is then computed.

Provisional tax is an advance payment of next year’s income tax which is estimated on an individual’s taxable income of the current tax year.

Clients can get representation by an authorized representative to apply for an extension to file your 2019/20 profits tax return under the Block Extension Scheme, the due date is normally extended as follows:

Accounting Date	Extended Due Date
For N Code Returns (Accounting Date between 1 April to 30 November)	One month from issue date of tax demand note
For D Code Returns (Accounting Date between 1 to 31 December)	Mid August
For M Code Returns (Accounting Date between 1 January to 31 March)	Mid November

If it is regarding the late filing of a tax return form, client should complete the filing and pay the fine within the specified date to avoid being prosecuted by the Inland Revenue Department. Fail to do so is an offence and is subject to a fine of $10,000 and a further fine of treable the amount of the tax undercharged.

Individuals receiving a court summons is recommended to attend the hearing at the court mentioned on the specified date for defend and follow the proceedings accordingly.

You may contact BBC for consultation or representation. For details please check with our customer service.

You may also contact BBC for accounting and auditing service as to file the required tax return. For details please check with our customer service.

No. According to the laws of Hong Kong, companies incorporated in Hong Kong must file tax returns with the Inland Revenue Department, regardless of the place the business is conducted. If the source of income is not Hong Kong, one can apply with the Inland Revenue Department for exemption of corporation tax for offshore income.

Hong Kong adopts a territorial source principle of taxation. Only profits which have a source in Hong Kong are taxable here. Profits sourced elsewhere are not subject to Hong Kong Profits Tax. The principle itself is very clear but its application in particular cases can be, sometimes, contentious. Company trying to claim offshore income tax exemption should submit the claim with supporting documents when they file their Profit tax return and audit report to the Inland Revenue Department. You may refer to the IRD link below for more information

詳情可參考稅務局指引:
https://www.ird.gov.hk/chi/paf/bus_pft_tsp.htm?_referer=www.asiabs.com