B.String Business Consulting Ltd.

FAQ's » Hong Kong Company - Private Limited Company » Tax Filing General Information Double Taxation - Introduction Profit Tax - Hong Kong Profits Tax Return When to file? 1st tax filing request Tax Exemption Offshore income of a company is not taxable in Hong Kong? Tax Filing - Client said 'no business activty in Hong Kong started' Process of applying for Offshore Operation Tax Exemption Example - Organization chart Example - Walk-Through document Tax Department feedback Real case qualify to be considered as offshore operation 1st tax filing request If our company is the register address and company secretary, the request will be sent to us;   We'll advise client about the request : Advise about the deadline; Advise possible annual financial year end to use - usually using 31/3 each year; Seek client approval whether appoint us to handle the work; Collect info about business operation - to determine how to handle the filing;   Collect info about business operation One of the key info to clarify is whether client has any business activity started yet in HK; Considering HK adopts territorial concept of tax, no tax is payable if there is totally no business activty in HK; Of course, the tax rule adopts tax jargon and it is written in legal terms. Therefore, If need to have thorough reading of the exact info, Please read this tax concept ; If need to have general idea, the testing criteria will be : Any operational office in HK ? Any staff hired in HK ? Any customers located in HK ? Any suppliers located in HK ? Any goods shipped into HK ?   Audit report and offshore tax exemption application Audit report is about the numbers - to calculate how much profit or loss is generated; Tax exemption is focus on how the business is operated - to see whether the income is earned in HK;   Duty to keep proper accounting record No matter how the tax filing is handled, it is always a company's duty to keep proper record of all income and expenses; Page Top