According to Inland Revenue Ordinance, having a limited company in Hong Kong, the company will receive a first Profit Tax Return 18 months after the date of Incorporation. Besides filing a Profit Tax Return every year, a Hong Kong company should file an Employer's Return of Remuneration and Pension every year with year end of March 31, to report staffs' salaries. For an Individual receiving salaries from the company, has to file an Individual Tax Return every year with the year end of March 31.
Failure to file the above tax returns will subject to fine and penalty. Thus, tax filing and planning is very important as it enables a company and an individual to save money for future development and expansion. Through careful tax planning and proper tax filing will reduce tax burden and avoid any unnecessary penalty. As your tax representative, we are always enthusiastic to assist you and your company to find the best solution on the tax issues.
More information about our tax service and Xero accounting in Hong Kong.
We’ve used Prism for a variety of support services and they’ve always been top notch. Definitely recommend them if you need help as a start-up business that needs support getting all of your paperwork in order.
⭐⭐⭐⭐⭐ June 17, 2022