Home > Tax Filing > Hong Kong Tax Filing

Hong Kong Tax Filing

Updated:2018-4-17 17:27:17    Source:www.tannet-group.comViews:972

Hong Kong tax filing refers to the reports filed with the department of the Hong Kong Inland Revenue Department containing information used to calculate the taxes and declare liability for taxation. Tax returns are generally prepared using forms prescribed by the tax authority. Hong Kong taxes are among the lowest in the world, and the tax regime is simple and predictable. Hong Kong's simple and low tax system is a great attraction to foreign investors. This low fiscal burden for all, domestic or international players, corporatist and individuals alike make Hong Kong attractive.

Tannet's Taxation Services are greatly considerate as they are based on a full understanding of the client's business nature and unique requirements. Our referred tax specialists will work closely with you and learn your future development thoroughly, helping your company establish strategic tax planning in Hong Kong in the most tax-efficient manner.

Hong Kong Taxation Overview
1. Persons, corporations, partnerships, trustees carrying on any trade or business in Hong Kong are required to pay tax on profits arising in or derived from Hong Kong. All business operators are required to file a Profits Tax Return with the Inland Revenue Department every year.

2. In Hong Kong's Chief Executive Carrie Lam Cheng Yuet-ngor's "2017 Policy Address", Lam announced that the tax levied on the first HK$2 million profit posted by enterprises had been halved to 8.25 percent. She said a standard profits tax break of 10 percent as proposed in her Election Manifesto had been deepened but stressed that profits above HK$2 million would continue to be subject to the standard tax rate of 16.5%. However, attendant restrictions would ensure that each group of enterprises only nominate one enterprise to benefit from the lower tax rate.

3. Personal Tax is also among the lowest in the world at around 15% in recent assessment years. Furthermore, there are no hidden 'extras' on the tax system.

4. Only income and profits derived directly from Hong Kong are subject to tax.

5. There is no tax on capital gains, dividends or interest.

6. The tax system provides generous capital allowance and depreciation regulations.

7. Hong Kong has no Sales Tax or Value Added Tax.

Tannet's Services Include:
Advice on Corporate Tax Planning;
Tax Compliance Services Like Preparation of Profits / Salaries Tax Return;
Design Tax Strategies to Minimize Profits Tax and Enhance Tax Efficiency;
Advice on Tax Effects of Inter-company Transactions / Offshore Claims to IRD;
Assistance for Foreign Executives in Personal Tax Planning in Hong Kong.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

Previous:China Withholding Corporate Income Tax      Next:Hong Kong Corporate Tax