Hong Kong Tax Return

Hong Kong Accounting and Bookkeeping Service
Hotline: 86-755-82143348, Email:anitayao@citilinkia.com

Hong Kong tax return refers to the reports filed with the department of the Hong Kong Inland Revenue Department containing information used to calculate the taxes and for tax declaration. 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.

Different Tax Return between limited & unlimited company
There are different types of tax returns and you need to report your tax liabilities on the appropriate one(s). Here you can learn more about these types of tax returns, their normal issue dates and how to obtain a duplicate tax return.

1. Tax Return – Individuals (BIR60)
Tax Return – Individuals (BIR60) is directed at individuals. It enables you to report all your employment income (including income from office and pension), profits from sole proprietorship businesses, rental income from solely owned properties as well as claiming deductions and allowances in one return.

2. Property Tax Return (BIR57 or BIR58)
Property tax returns are issued to joint owners, co-owners, corporations and bodies of persons. If you are the sole owner of the property, you should report your rental income in Tax Return – Individuals (BIR60).

3. Profits Tax Return (BIR51, BIR52 or BIR54)
If you carry on business in the form of a corporation, partnership business or if a non-resident person is chargeable to profits tax in your name, you should report the profits on profits tax returns. Your profits from the carrying on of sole proprietorship business should be reported in Tax Return - Individuals (BIR60).

4. Zero Tax Return

If the company doesn’t carry out business in the financial year, this company can directly carry out zero tax return. The new established company will received the profit tax return from the HK Inland Revenue Department after 18th months. And zero tax return must carry out in the following one month after receiving the profit tax return. The standard fee is 800 HKD.

Financial Year & Tax Return Schedule
Financial year is usually 12 months, but a new established company is 18 months. The time of tax annual return is in the first month after the financial year. If the company can’t carry out tax return on time, the application of postpone in the available period is necessary.

Documents Required for Hong Kong Tax Return
The company should prepare for the account ATAHK once it carries out business and divide all the bills into sale, cost and expenditure. The Hong Kong government acknowledges all the invoice (which can be made by you), receipt and note signed and sealed by the company.
1. Bank statement & bank details;
2. Sales bill: Invoice and contract;
3. Cost bill: Invoice and contract;
4. Expenditure bill: Salary, freight and rent (The lease or agreement is required) etc.
5. The other relevant document: Two copies of Article of Association, annual return form, all the alteration documents (if have), fixed assets bill and investment document.

Procedures of Hong Kong Tax Return
Sign the agreement→pay the earnest money→classify the bill→finish the account return→pay the spare money→audit by the auditor→return the audit report to shareholders to sign→CPA submit the audit report to government for tax return→return the relevant document to customer.

Hong Kong Tax Return Fee
Account and Audit fee: if the turnover of company is below 5 million, the total fee is 9000 RMB, if the turnover exceeds 5 million, 0.1% of the surpassed 5 million parts will be charged as the additional fee. The customers should pay 50% deposit of total payment and pay the spare money when finish. The payment term includes cash, T/T, check and transfer account.

Contact Us
If you have further queries, don’t hesitate to contact ATAHK anytime, anywhere by simply visiting ATAHK’s website www.3737580.net , or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to anitayao@citilinkia.com.