Tax Consultancy
Tax Consultancy
Limited Company Tax Filing
According to the Companies Ordinance, the annual financial statemnts of a Hong Kong limited company must be audited by a practicing accountant in Hong Kong. The Inland Revenue Department requires limited companies to file tax returns based on the audited financial statements and the computation of profits tax.
Unlimited Company Tax Filing
The Inland Revenue Department will issue tax returns to sole proprietors and partnerships. The deadline for filing will be indicated on the tax returns, and sole proprietors and partnerships must complete and submit the tax returns on time.
Individual Tax Filing
The Inland Revenue Department will issue an individual tax return (BIR60) to individuals. You are required to report all your salary income, profits from sole proprietorship businesses, rental income from leasing out properties, and claim deductions and exemptions.
Employer's Tax Return
The Inland Revenue Department will issue an employer’s tax return (BIR56A form) on the first working day of April each year, and employers are required to complete and submit the employer’s tax return within one month.
Property Tax
If you receive rental income from leasing out properties in Hong Kong, you are required to complete and submit tax returns on time to report the rental income.
Personal Assessment Tax
If you have assessable income from profits tax (unlimited company) and/or property tax, personal assessment tax may provide you with tax relief. Taxpayers are required to select to apply for personal assessment tax on the tax return.