In the business process of a Hong Kong company, tax filing is necessary. In order to facilitate and prevent errors in the tax filing process, please keep the following documents during the business process.
1. Bank statements and water bills;
2. Sales documents, invoices, contracts;
3. Cost documents, invoices, contracts; < /p>
4. Expense receipts, salary slips, rent (lease contract or agreement required), freight, etc.;
5. Other relevant documents, an original copy of the articles of association, a copy of the company’s articles of association, Annual return, if any information changes, fixed asset notes.
It is necessary to save the above documents and do the corresponding classification work, classifying, sorting and arranging the sales invoices, cost invoices and expense invoices in chronological order. If there are a large number of bills, you can add a pencil number in the upper right corner of the bill. Please note that all document dates provided are within the accounting period. Therefore, it is less likely to make mistakes when doing accounting.
When do Hong Kong companies file tax returns?
After the tax return is submitted to the tax bureau and the tax assessor determines the tax required, a tax payment notice will be issued and the company must pay tax on a specified date.
Each limited company will receive a profits tax return form from the Hong Kong Inland Revenue Department approximately eighteen months after its establishment. If the extension is not approved by the tax bureau, the declaration should be made three months after receiving the tax bill. Failure to file a tax return within the required time will be considered illegal and will result in penalties. For new companies, the first financial statement can be an 18-month financial year, followed by every 12-month financial year, and the selected financial year must not exceed 18 months. March 31st is generally the statutory full year, and December 31st is rarely chosen (Hong Kong companies generally returning to China for investment purposes often choose December 31st as the base date in order to connect the domestic fiscal year).
Have a Hong Kong company act as an accounting and tax filing agent:
1. Select an accounting and tax filing agency, sign an agency accounting and tax filing agreement, and pay taxes;
2 , Organize the Hong Kong company’s financial statements, account processing, and consult the agency to assist in handling the accounts; hand the form to the agency, organize it, and start the liquidation of the Hong Kong company;
3. After completing the bill Submit it to a Hong Kong accountant;
4. Submit the report to the shareholders for signature and pay the remaining balance;
5. The accountant must take the signed report to the government for tax declaration;
6. Return relevant documents to the customer.