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Hong Kong Company Tax Filing

Updated:2018-6-29 11:10:43    Source:www.tannet-group.comViews:442

Hong Kong Company Tax Filing Service
Hotline: 86-755-82143422,

Hong Kong tax filing is needed for every company registered in Hong Kong. Profits tax is payable by every company carrying on a trade, profession or business in Hong Kong on profits arising in or derived from Hong Kong from that trade, profession or business. Profits which have a foreign source are thus generally beyond the territorial scope of Hong Kong's taxation system, including those derived by locally incorporated companies.

Following incorporation, companies are generally tracked by the tax authority and issued with a tax return for the first anticipated "year of assessment". Even when no tax return has been issued, however, the company has an obligation to notify the tax authority if assessable profits have arisen.

Hong Kong Company Tax Filing Jurisdictions
Similar to most other jurisdictions, Hong Kong tax legislation requires various adjustments to be made to accounting profit in order to arrive at taxable profit, and these are usually reflected in a separate tax computation which accompanies the tax return. Non-taxable items include capital gains, offshore profits, bank deposit interest and dividends.  However, inter-company interest paid overseas is often disallowable.

Tax depreciation for fixed assets is allowed at prescribed rates, including a 100% first year write-off for computer and manufacturing equipment, environment-friendly vehicles as well as certain environmental protection facilities. Acquisition costs for certain intellectual property rights are also deductible. Losses cannot be offset against the profits of other members of a group of companies.

Hong Kong Company Tax Fling Requirements
The company has to file a complete set of returns which includes the following:
1. The specific profits tax return form as issued by the Inland Revenue Department;
2. A supplementary form as issued by the Inland Revenue Department for your tax data and financial data etc;
3. A certified copy of the Balance Sheet, Auditor’s Report and Profit & Loss Account pertaining to the basis period;
4. A tax computation showing how the amount of Assessable Profits (or Adjusted Loss) has been arrived at.

Small corporations (defined as those corporations whose total gross income does not exceed HKD500,000 for the basis period) only need to file their respective profits tax return form and supplementary form. It is not mandatory to submit the other supporting documents mentioned above.

Hong Kong Company Tax Filing Deadline
The Inland Revenue Department (IRD) of Hong Kong generally issues the corporate profits tax returns on the 1st of April every year. Normally, businesses should file the profits tax return within 1 month from the date of issue. In the case of newly registered businesses, the Inland Revenue Department will issue the profits tax return 18 months after the date of commencement of business or the date of incorporation.

Contact us
If you have further queries, please don’t hesitate to contact Tannet 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.

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