accounting services

Limited companies in Hong Kong will receive a profits tax return form from the Inland Revenue Department every year, and must submit an audit report and tax return form audited by a Hong Kong Certified Practising Accountant to the Hong Kong Inland Revenue Department within the deadline. Generally, the first profits tax return will be issued eighteen months after the company is established, and new companies must file the return within three months after receiving the tax form. If the tax return shows that the company has profits, the Inland Revenue Department will issue a tax payment notice to the company concerned to pay the relevant profits tax. If a company fills in incorrect information on the tax form, omits certain items, or submits the tax return late, it may violate tax regulations. The company concerned may be prosecuted and fined by the tax bureau.