There is no precise reply to this simple question. It depends. The closer you are to a tax deadline, the longer it can take, since usually accountants are busier this time of the year. The
In short, yes. There is often a misunderstanding about this concept. If your company was engaged into any business transaction in or out of Hong Kong, it is mandatory to keep all data & proofs.
The Inland revenue department already gave an extension to fill PTR (profit tax return) for the year 2019-2020. If your tax return has a “M” code in the header, you have until November 30 in
If you have a company registered in Hong Kong that is over 2 years old, it is very likely that you received your PTR (profit tax return) for the year 2019-2020, these last few days. Most of the
There are usually 2 outcomes. Either you are required to accept a compound offer involving a penalty that is often 3.000HKD and obligation to submit your signed & filled in profit tax return to the
In Hong Kong, an audit of your accounts is mandatory. Nevertheless, you can do the accounting work internally or abroad, then have your accounts audited. By doing so, you might think you will save time
The usual profit tax rate for a company registered in Hong Kong is 16.5%. As of today, this rate is valid from 2.000.000 HKD. From 1HKD to 1.999.999HKD, the rate is only 8,25%. In order
A bank confirmation is a document required by your company auditor in order to complete your statutory audit. The purpose of this document is to validate the balance of your account and to match it
BIR51 is a profit tax return for companies registered in Hong Kong. It is issued by the Inland Revenue Department in Hong Kong. This form has to be filled in once a year. The first one is to
Usually, profit tax returns are received the first working days of the month of April. Because of the coronavirus or covid-19, the date has been postponed one month later. Therefore, the profit tax return for
