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Tax

Tax services for your business

We offer comprehensive tax services including acting as tax representative and handling tax correspondences with Hong Kong Inland Revenue Department (“HKIRD”), completion and submission of profits tax return and employer’s return on remunerations and pensions, as well as drafting and submission of reply to on tax queries letter raised by HKIRD. We offer our best services to ensure all tax compliance matters of clients are properly handled with care.

Hong Kong operates a relatively simple tax system. There is no dividend tax, capital gain tax, business tax and value-added tax in Hong Kong. The major categories of tax in Hong Kong are as follows:

  • Salaries tax – applicable to employees earning salaries
  • Profits tax – applicable to sole proprietorship, partnership and limited companies earning profits from business
  • Property tax – applicable to property owner earning rental income
Fusion Certified Public Accountants tax service

What are the tax filling obligations as a business owner?

HKIRD will normally issue profits tax return to a company around 18 months after its incorporation date. The company needs to return its first profits tax return to HKIRD within 3 months upon receipt. For subsequent years, HKIRD may issue profits tax return every year or once in every 3 to 4 years. The company is required to file the profits tax return to HKIRD within 1 month or an agreed extended date to avoid any potential penalty.

What are the tax filling obligations as an employer?

An employer needs to complete certain employer’s return on remuneration and pensions to report the remuneration of its employees to HKIRD. Different forms need to be completed for new employees, leaving employees as well as annual employer’s return reporting the remuneration of employees during the financial period of HKIRD (from 1 April to 31 March of the following year).

What are the deliverables of tax services?

We will help to perform the profits tax computation and completed profits tax return and submit to HKIRD on your behalf. We will also help to complete and submit the employer’s return on remuneration and pensions. As tax representative of your company, we will help to liaise with HKIRD for extension of filling of tax return and other tax administrative affairs. Handling tax queries received from HKIRD will be outside our normal scope of services but the service can be provided upon request.