Hong Kong company annual return is a statutory requirement as per Hong Kong company law. Every company formed in Hong Kong is legally required to deliver the completed annual return back to the Companies Registry and Inland Revenue Department which are the government authorities for incorporation and taxation before prescribed deadline.
Annual Filing Requirements
Both local and foreign companies (an incorporated subsidiary or registered branch) in Hong Kong are subject to annual filing requirements with the Inland Revenue Department (IRD) and Companies Registry. The annual filing requirements of Hong Kong private limited companies are as follows:
1. Filing of Annual Return with Companies Registry
Each Hong Kong company must lodge an Annual Return (AR) with CR within 1 month. Particulars of the company member, registered address, and auditors (if applicable) must be included in the AR. The attachment of company’s accounts is governed by the applicable rules here.
2. Filing of Annual Tax Return with Inland Revenue Department
Each Hong Kong company must file its annual tax return with IRD. Hong Kong adopts year-by-year basis for taxation. The profits for the financial year ending in the preceding year will not form the basis for filing the tax return in the current year.
Consequences of Non-delivery or Late Delivery
Companies have to pay higher registration fees for late delivery of Annual Returns for registration. According to the Company Ordinance, if a company fails to comply with the provision, the company and every responsible person of the company are liable to prosecution and, if convicted, default fines. The maximum penalty is HK$50,000 for each breach and, in the case of a continuing offence, a daily default fine of HK$1,000.
The directors the company are responsible and accountable for complying with the annual filing requirements. Failure to comply with the statutory compliance requirements is an offence and may result in fines or prosecution.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. 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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