Tax & Auditing_Hong Kong Company

How can we help you ?

RY Consulting has been assisting our clients with setting up and managing Hong Kong companies for over 15 years. We know all the compliance procedures and set up efficient service system to keep all our clients' Hong Kong companies in good condition.

We have service center located in Hong Kong with professional corporate service experts to ensure fast, stable and cost-effective service for your business. We have local team of Certified Public Accountant and senior accountant managers to serve you regarding any accounting or tax issues.

Hong Kong Company Service Package

Company Name & Address

Free and fast company name check and approval, virtual office and registration address for your option.
Fast Registration Procedures

With our help, all preparation work can be done remotely and company registration takes only 1 day.
Open Hong Kong Account

We cooprate with over 30 international banks to help our clients to open Hong Kong corporate bank account at any time.

Accounting & Auditing

Bookkeeping and annual accounts preparation and issue audit report by HK CPA.
Timely Tax Return Service

Submission of Profit Tax Return, Employer's Returns, Individual Tax Return and tax advisory.
More Value-added Services

License application, Hong Kong visa & Migrant Admission Scheme, trademark, legal advisory and etc.

Frequently asked questions for taxation in Hong Kong:

What should I know about taxation in Hong Kong?

Hong Kong is a well-developped trade and financial center in the world with very friendly taxation. The profits tax rate for Hong Kong company is:

for the first $2 million of the corporations’ profits is 8.25% and profits above that amount will continue to be subject to the tax rate of 16.5%.

Hong Kong companies are required to file Profits Tax Return annually no matter whether the companies are actually operating or not.

For those companies not starting business yet , zero income tax declaration can be filed annually.

For those companies already starting business, the audit report must be issued and Profits Tax Return be filed before due date.
What is auditing and tax filing of Hong Kong company?

Once a Hong Kong company starts business, not only bookkeeping work must be done but also the annual audit report is required.

An audit is an official examination of your company’s financial records and is conducted by Hong Kong auditing firm. The purpose of an audit is to ensure that your business is complying with all of the relevant laws and regulations.
What are the steps of tax filing for Hong Kong company?

Step 1: Contact us and get an instant quote.

Step 2: Provide docuements for starting accounting work.

Step 3: Begin Audit procedures.

Step 4: We issue audit report and file tax return for your company.
What should I do for tax filing for Hong Kong company?

1. Choose the first financial year end.

For the first financial year end, you can choose any month among 18 months after the registration date. Most choose the end of March or December.

Then it is fixed for the following years till the company is closed.

2. Keep record of transactions documents.

Keep all the bank statements, sales contracts or invoices, purchase contract or invoices and all the expenses bills of the Hong Kong company.

3. Contact us for audit procedures.

Remember to contact us once it reaches the financial year end and we will help you with accounting and audit procedures.

4. Sign the report and profits return form.

We issue the audit report for you to sign and submit it to the Hong Kong Revenue Department together with profits return form.
Is there any non-compliance penalty?

Yes. The Inland Revenue Department(IRD) is Hong Kong's tax authority. It imposes requirements in relation to filing timely and accurate tax returns.

The penalty HK$1,200 fine is imposed for late tax filing for the first time and HK$3,000 fine for the second time.

A director of a company who fails to take all reasonable steps to secure compliance with this duty commits an offence and is liable to a fine of HK$300,000.