Hong Kong Company Tax Filing

Author: 新誉  Date: 2014-07-25 Views: 1646 Comments: 0

Hong Kong Company Tax Filing is one of xincheng's HK follow-up services for global investors. Hong Kong company tax filing refers to the reports filed with the department of the Hong Kong Inland Revenue Department containing information used to calculate the taxes and declare liability for taxation. Tax filings are generally prepared using forms prescribed by the tax authority.


Hong Kong Company Tax Filing-Low Taxation in Hong Kong
Hong Kong taxes are among the lowest in the world, and the tax regime is simple and predictable. Hong Kong's simple and low tax system is a great attraction to foreign investors. This low fiscal burden for all, domestic or international players, corporatist and individuals alike make Hong Kong attractive.


Hong Kong Company Tax Filing-Different Tax Filing between limited & unlimited company
There are different types of tax filings and you need to report your tax liabilities on the appropriate one(s). Here you can learn more about these types of tax filings, their normal issue dates and how to obtain a duplicate tax filing.


1. Tax Filing – Individuals (BIR60)
Tax Filing – Individuals (BIR60) is directed at individuals. It enables you to report all your employment income (including income from office and pension), profits from sole proprietorship businesses, rental income from solely owned properties as well as claiming deductions and allowances in one filing.

2. Property Tax Filing (BIR57 or BIR58)
Property tax filings are issued to joint owners, co-owners, corporations and bodies of persons. If you are the sole owner of the property, you should report your rental income in Tax Filing – Individuals (BIR60).

3. Profits Tax Filing (BIR51, BIR52 or BIR54)
If you carry on business in the form of a corporation, partnership business or if a non-resident person is chargeable to profits tax in your name, you should report the profits on profits tax filings. Your profits from the carrying on of sole proprietorship business should be reported in Tax Filing - Individuals (BIR60).

4. Zero Tax Filing
If the company doesn’t carry out business in the financial year, this company can directly carry out zero tax filing. The new established company will received the profit tax filing from the HK Inland Revenue Department after 18th months. And zero tax filing must carry out in the following one month after receiving the profit tax filing. The standard fee is RMB500.


Hong Kong Company Tax Filing-Financial Year & Tax Filing Schedule
Financial year is usually 12 months, but a new established company is 18 months. The time of tax annual filing is in the first month after the financial year. If the company can’t carry out tax filing on time, the application of postpone in the available period is necessary.


Hong Kong Company Tax Filing-Documents Required
The company should prepare for the account ATAHK once it carries out business and divide all the bills into sale, cost and expenditure. The Hong Kong government acknowledges all the invoice (which can be made by you), receipt and note signed and sealed by the company.
1. Bank statement & bank details;
2. Sales bill: Invoice and contract;
3. Cost bill: Invoice and contract;
4. Expenditure bill: Salary, freight and rent (The lease or agreement is required) etc.
5. The other relevant document: Two copies of Article of Association, annual filing form, all the alteration documents (if have), fixed assets bill and investment document.


Hong Kong Company Tax Filing-Procedures
Sign the agreement→pay the earnest money→classify the bill→finish the account filing→pay the spare money→audit by the auditor→filing the audit report to shareholders to sign→CPA submit the audit report to government for tax filing→filing the relevant document to customer.


Contact Us
If you have further queries, you are always welcome to contact xincheng anytime, anywhere by simply visiting xincheng’s website http://www.xincheng.com/, or calling China hotline at 86-755-82683292, or 86-13699772175, or emailing to 2853310355@qq.com. You are also welcome to visit our Shenzhen office located at Room 1116A-1117, Building B, Pacific Business Building, No.4028, Jiabing Road, Luohu District, Shenzhen China


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