Accounting and Audit arrangement

Easway performs One-Stop Accounting and Taxation services: prepare the financial statements, Audit Report and Tax Return submission. Besides, we provide an individual quotation for each customers; which is closer to their actual requirement.

Business Centre Virtual Office

In general, a newly registered business will receive its first profits tax return some 18 months after the date of commencement of business or the date of incorporation.
According to Hong Kong Companies Ordinance Sec. 122, the annual financial statements of Hong Kong limited company should be audited by Hong Kong Certified Public Accountants (Practising), for the purpose of presenting for shareholders’ review in annual general meeting (AGM).

Moreover, Hong Kong Inland Revenue Department requires the Hong Kong Limited Company to submit the Profits Tax Return with the audited financial statements for the purpose of tax assessment.

Profits Tax Return

The Basic period is either

  1. The year ended 31 March during the relevant year;
  2. Where the annual accounts are made up to any date other than 31 March, the year ended on that day in the relevant year.

Profits Tax Rate

  • Normal rate (for the year of assessment 2008/09 onwards)
    • Corporations: 16.5%
    • Unincorporated Businesses: 15%
  • Two-tiered rates (for the year of assessment 2018/19 onwards)
    • Corporations:
      • 8.25% on assessable profits up to $2,000,000;
      • and 16.5% on any part of assessable profits over $2,000,000
    • Unincorporated Businesses:
      • 7.5% on assessable profits up to $2,000,000;
      • and 15% on any part of assessable profits over $2,000,000

Normal Filing Time

  • Generally, profits tax return should be filed within 1 month from the date of issue. The compliance date of submission is specified on page 1 of the profits tax return.

Employer's return and notification forms

Normally, IRD will send BIR56A and IR56B (Employer’s Return) to employers on the first working day of April each year.

A “NIL” return of BIR56A is still required even if you have no employees or pensioners chargeable to Salaries Tax.

Sources: Inland Revenue Department

Business Centre Accounting Audit

In additional, we provide the service for filing of Employer’s return.
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