Hongkong company regulations stipulate that after the establishment of Hongkong company, no matter whether the company wants to pay taxes or not, it must report the tax every year. The new company has just set up permission to report the tax after 18 months, and then returns the tax once a year. At the beginning of each finance, the Hongkong tax bureau will send a profit tax or property tax form to a person, a partnership, a property holder and a limited company in four and May each year. The relevant person of the new company must, within the date specified in the tax form, usually fill in the tax form and return it to the tax bureau with the relevant information and documents within one or three months of the tax form.
Many customers think that after set up HK company, no matter where to do business, as long as they do not operate locally in Hongkong, there is no need to pay any tax or any financial statements (usually zero declarations). This is a completely wrong concept, and the business of the Hongkong company is generally required to make an account tax, Accounting and tax filing can standardize the company's financial management and reflect the strength of the company.
Accounting and tax reporting -- the difference between a limited company and an unlimited company
Whether the number of nuclear numbers is different: the nuclear number of Hongkong is equal to the audit of the mainland. In the case of business, the company does not have to pass the process of the nuclear number, and the accounts will be declared to the tax bureau directly according to the accounting statement. The limited company is different. After the limited company has finished the audit, the core number of the nuclear teachers in Hongkong is issued and the core is issued. According to the data listed in the audit report, tax returns can be declared to the tax bureau.
The profits tax rate in Hongkong is different: the unlimited company's tax rate is 15%, and the limited company's tax rate is 16.5%.
The annual report of the year is different: the company must do the annual report of the year, as long as the company does the annual review, that is to say, the company will not have to make an annual report to the company registration office as long as the company has been updated with the tax bureau to do business registration.
Tax reporting
In Hongkong, there are about three forms of tax reporting:
Zero tax - for companies that do not run
Directly filing tax after making account -- suitable for unlimited company with business.
After filing and auditing, it is possible to declare tax.
Zero tax
If a company fails to operate within a financial year, it may apply to the government for exemption from making accounting, auditing and paying taxes in the year. The government of Hongkong has asked the enterprise to declare it once a year. Handling time: the general new company will receive the profit tax form issued by the Hongkong Tax Bureau in Eighteenth months. The zero declaration must be submitted to the tax bureau with a good profit tax form within one month after the receipt of the tax form.
Profit tax
Profits tax, one of the three largest taxes in Hongkong, is levied on the assessable profit during the tax year, that is, net profit in a fiscal year. Anyone who operates any industry, profession, or business in Hongkong and obtains from the industry, specialty or business in Hongkong, or from Hongkong, all profits (except profits for the sale of capital assets), including a corporation, a partnership, a trustee, or a group, is to be taxed, and the object of the tax is not a Hongkong resident or a non incense. Hong Kong residents. Therefore, one of the important matters that every Hongkong company must handle annually is to declare profits tax to the Hongkong government. At present, the profit tax rate of the Hongkong government is 16.5% of the net profit, for example, the company's gross profit is 2 million Hong Kong dollars for one year, and the net profit is 1 million Hong Kong dollars, then the profit tax of the company that year should be HK $1000000*0.165=165000. If the company has no operating or operating losses for that year, it is not necessary to pay taxes.
Overseas profit
If the operating activities of the company occur outside the Hongkong Special Administrative Region, the profits obtained are overseas profits, and this profit does not have to be paid to the tax bureau of Hongkong in terms of profit based on profit. The business is not in Hong Kong to apply for overseas profits. The following points can be used to verify whether the business is happening in Hong Kong: both suppliers and customers are not Hongkong merchants, the signing process of orders is not in Hongkong, no customs declaration, receipt and delivery in Hongkong and any other operating records in Hongkong government.
Hongkong company fiscal year and tax reporting time
Fiscal year: the financial year is generally 12 months, the first year can be extended to 18 months; the tax time is usually one month after the end of the fiscal year. If you can not report the tax on time, you must apply for an extension in the period of validity. The following is the timetable for tax reporting:
The latest tax reporting time after the financial year (closing month) is postponed.
1-3 months of November 15th
April 15th of the next year of the 4-11 month
The next year of August 15th in December
Information to be prepared and required before making an account
Prepare before the account:
(1) although the government of Hongkong is required to report the tax according to the year, the enterprise generally can not wait until the end of the year to begin to deal with the accounts.
Classification and arrangement of bills: classify, arrange and place sales invoices, cost invoices and invoices in chronological order. If there are more bills, you can add pencils to the top right corner of the bill. And note that all the dates provided are in line with the date of the account.
(3) recognized bills: compared with the mainland of China, the Hongkong government recognizes all invoices (self-made), receipts and notes with company signature.
The information to be submitted for the accounts:
(1) the monthly bank statement and the bill of water;
Sales bill: invoice, contract;
Cost bill: invoice, contract;
(4) cost bill: