For Hong Kong companies that have started to operate, the Inland Revenue Department requires them to submit audited accounting reports to explain their operating conditions. Taxing is not the same as paying taxes. Whether it is necessary to pay taxes is assessed by the tax bureau according to the company's operating conditions, audited financial reports and other factors. According to the Inland Revenue Ordinance of Hong Kong, Hong Kong companies can apply for exemption from profits tax on overseas income.
Tax return method: according to whether you have business in Hong Kong, you can file tax returns in two ways:
A. do accounting and tax returns;
B. zero declaration;
1. Conditions for judging whether to operate in Hong Kong (one of the three conditions can be regarded as operating in Hong Kong):
A. Whether a bank account has been opened and whether there is capital flow in the account;
B. Do you have any business dealings with Hong Kong businessmen?
Have you ever declared at the Hong Kong Customs? Do you have any business records in government agencies?
2. Tax filing services:
As the tax representative of the customer, fill in and submit the profit tax form, answer the inquiries, statements, objections and tax refund of the tax bureau, assist the customer to handle the on-site audit and investigation of the tax bureau, make tax arrangements and provide relevant opinions, so as to reduce the tax filing cost as much as possible under the premise of rationality and legality.
Second, zero declaration
1. The concept of zero declaration: If a company has no business in Hong Kong in a fiscal year, it can apply to the government for zero tax declaration for that year, that is, it has no business and applies for exemption from accounting, auditing and tax payment.
2. Processing time: 1. The new company will receive the profit tax form from the Hong Kong Inland Revenue Department in1August, and the zero declaration must go to the Inland Revenue Department to file tax returns with the completed profit tax form within one month after receiving the profit tax form.
3. Penalty for late submission of tax returns: For late submission of tax returns, the Inland Revenue Department will impose different amounts of fines according to the length of delay, with the minimum penalty being HK$ 1200 yuan.
4. Handling process: After receiving the profit tax form = = from the Hong Kong Inland Revenue Department, contact the company's shareholders and learn that the company has no business = =, send the tax form and zero declaration confirmation, sign it by a shareholder and send it back to the Hong Kong accountant for tax return = =, and notify the company after completion.
Three. Acting as bookkeeping and auditing tax returns. All limited companies operating in Hong Kong must properly keep proper account books, prepare profit and loss statements and balance sheets, and report and pay taxes to the Hong Kong government on schedule after being audited (audited) by certified public accountants.
1. Accounting services sort out the original bills; Check the bank account; Prepare general ledger, bind it into volumes, prepare summons, prepare profit and loss statement and balance sheet by year, quarter or month, assist in establishing accounting system, clear accumulated accounts, the board of directors of the company confirms or puts forward reasonable tax avoidance scheme, and provide tax declaration service at the end of the year.
2. Handling process: after evaluation, quotation and negotiation, an accounting and tax return agreement is signed = = "Advance all funds = =" to sort out the documents and enter the accounting stage = = "After accounting is completed, submit them to the auditor for audit =
= "After the audit, the accountant will take the audit report to the relevant files of the government tax return and submit it to the customer.
3. Accounting and tax declaration documents provided by the company:
First, to provide the monthly statement (original) of the account opening bank in the accounting period, all the monthly statements and correspondence of the account opening bank, the corresponding business content and document number must be indicated; Every income and expenditure on the monthly statement must have a corresponding bank receipt and payment notice.
2. If the income on the monthly statement is sales income, please provide sales invoices or receipts (receipts issued by our company, etc.). ); If the goods are purchased, you must provide purchase invoices or payment vouchers (receipts, money orders and other vouchers that can prove that you have paid); If you transfer money on behalf of the customer, you must provide the customer's receipt or the wire transfer form sent to the customer; If the shareholder withdraws money, please indicate that the account must be confirmed by the shareholder after completion. The source and direction of each incoming and outgoing payment must be clear, and the trading amount should be consistent with the bank.
Third: provide invoices for various expenses. These include:
1. Office expenses (water, electricity, telephone, rent, management fee, expenses for purchasing office supplies, of which the rent requires the house lease contract and receipt).
2. Operating expenses (registration fees, advertising fees, freight and courier fees, local travel expenses, travel expenses, business entertainment expenses, etc.). )
3. Wages and expenses. One of the taxes in Hong Kong is salaries tax, that is, the personal income tax of employees. When the monthly salary of each employee does not exceed 9000 Hong Kong dollars and the annual salary does not exceed 108000 Hong Kong dollars, individual income tax is exempted. If no employees are employed, the payroll tax will be declared as zero, that is, the salary expenses will be zero.
Fourth: If your company uses cash for all kinds of trading activities, please provide all kinds of sales and purchase invoices, and indicate that it is a cash transaction to ensure the completeness and accuracy of the bills.
Payment method: companies that do accounting and tax returns can provide accounting vouchers according to the actual situation of the company, once a month, once a quarter and once every six months, provided that they have enough time to do accounting, auditing and tax returns.
Audit: According to Article 122 of the Companies Ordinance of Hong Kong, all the annual financial reports of limited companies registered in Hong Kong need to be audited by an accounting firm for the shareholders of the company to read at the annual general meeting. In addition, the Hong Kong Inland Revenue Department also requires the limited company to attach the audited financial report to the statement for tax assessment. Generally speaking, audit is evaluated by certified public accountants. The audit report of a company can be used not only for tax declaration, but also for credit review. At the same time, it can improve the management quality of the company and protect the rights and interests of shareholders.