WE CAN HELP YOU WITH THE FOLLOWING:
- keep proper business records
- prepare and maintain accounting documents
- book-keeping
PROFIT TAX RETURN
Inland Revenue Department issues the first PTR (Profit Tax Return) within one to two months before the second anniversary of the incorporation.
FINANCIAL YEAR
The first financial year of a Hong Kong company commences on the first day of the first accounting reference period and ends on the last day of the period.
ACCOUNTING REFERENCE PERIOD
A company shall determine its accounting reference period to which the company’s annual financial statements will be prepared.
EXAMPLES:
Financial Year end as at Tax Filing Date Documents Ready for Audit
a) 31st of March 15th of November Not later than 1st of September
b) 31st of December 15th of August Not later than 1st of June
Other dates than a) or b) e.g. 30th of June 30th April Not later than mid of February
The profit tax rate for corporations in Hong Kong is 16.5%.
In accordance with the requiretments of the Hong Kong Companies Ordinance, every company incorporated in Hong Kong must keep proper books of accounts and prepare annual reports containing audited financial statements for the current year, balance sheet, cash flow statement and profit and loss acount, and these financial statements must be signed off by a certified public accountant. The first audited financial statements shall cover a period not longer than 18 months from the incorporation date.