There are the following differences:
1. Do accounting, audit and tax returns normally.
Accounting audit and tax return are generally used in any Hong Kong company that has been operated. According to the regulations, as long as the company is operating, it is necessary to entrust a Hong Kong licensed accountant to audit the accounts every year, and then the accountant will make accounts according to the accounts and financial statements provided by the company and issue an audit report. While preparing for the audit, the company will receive the tax form issued by the Hong Kong Inland Revenue Department. At that time, the company will need to submit the tax form and audit report to the Inland Revenue Department within the specified time, and then the Inland Revenue Department will evaluate whether the company needs to pay taxes according to the submitted tax form and audit report. If the evaluation result is profit, it will need to pay taxes, and the tax payable will be determined by the company's profit amount. If it is a loss, it will not need to pay taxes, and the profits generated in the next year can be deducted.
2. Zero declaration
This method of zero declaration can only be carried out by companies that meet the requirements, such as: the company has not yet operated, the bank has no running record, and has not purchased any property in Hong Kong. Only those who meet the specified requirements can make a zero declaration in the fiscal year, that is, in fact, fill in the zero in the business column of the tax form and apply to the Hong Kong government for exemption from accounting, auditing and tax payment. However, it should be noted that the Hong Kong Inland Revenue Department has the right to double-check the company's accounts within seven years. If it is found that the company does not meet the zero declaration conditions, it will be treated as tax evasion, which will have very serious consequences.
The above answer is about the difference between zero declaration and real tax return of Hong Kong companies, and I hope it can help you.