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How to Declare Dutiable Goods for Hong Kong Company Registration?

Source:   |  Update: 25/09/2018, 15:11 (UTC+8)  |  

(1) How to declare dutiable goods for Hong Kong companies?

After the complement of Hong Kong Company Registration, there are two important issues every year. One is the company's annual review, and the other is to file tax returns.

The annual review of Hong Kong companies is once a year, counting from the date of registration of Hong Kong companies. Besides, the tax for Hong Kong companies is also once a year, and the first declaration is 18 months later its registration.

(2) The Filing and Tax Return Mode OF Hong Kong companies

There are three modes for Hong Kong companies to file tax returns:

1. Zero tax return - suitable for companies that do not operate;

2. Direct tax return after accounting - suitable for operating unlimited companies;

3. Tax return after accounts and audits - suitable for operating limited companies.

Requirements for the Tax Return of Hong Kong Companies

Company that do not operate in Hong Kong can directly declare zero tax return, but operating companies have to make an account and audit to report the tax. Many clients consult the requirements for zero declarations. However, in fact, the requirements for zero declaration are very strict and risky. If the company has a business operation in Hong Kong, then a regular audit conducted during the operation may ensure its future development in Hong Kong.

The auditor's report contains two tasks:

1. Account, that is to provide the documents required by the Hong Kong company to the accountant, and then the accountant will issue the balance sheet and income statement.

2. Audit: This part will be done by a licensed accountant in Hong Kong.