For more information about the supplementary audit of Hong Kong companies, please contact: 021-58822399 / 138169481
After the establishment of the Hong Kong company, the annual review annual report is made every year. However, because the bank has not opened an account, or the bank has opened an account, and the company has operating procedures, but there is no reminder from professionals, customers may ignore the audit and tax declaration, thinking that they only need to do the annual audit report every year. Is that really the case?
1. Is an audit required?
After the establishment of a Hong Kong company, if the bank does not open an account and no business occurs, it still needs to make a zero declaration. If the bank has opened an account, has carried out business operation, and belongs to a limited company, it needs to do account audit and tax declaration. Generally, the first time a Hong Kong company makes an account can be 18 months.
2. Why do you have to do account audit and tax return?
Anyone who delays or incorrectly files a tax return without reasonable excuse will be fined or prosecuted by the Inland Revenue Department according to the length of the delay. Usually, the minimum fine is HK $1200, and in serious cases, HK $50000 will be fined (RMB 20000 for violations before August 1, 1994 and RMB 25000 for violations from August 1, 1994 to July 18, 1995), A fine of three times less tax and three years in prison.
3. Fiscal year and tax filing time
Latest tax filing time after the extension of financial year (settlement month)
January March November 15 of the year
April November April 15 of the following year
August 15th of the following year
If you need anything, please contact Tannet.
Address: block F, 15 / F, World Plaza, No. 855, Pudong South Road, Pudong New Area, Shanghai.
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