Profits Tax Return Filing Procedure
When the company has commenced business, please inform us the date of commencement. We will plan the financial year ended date for the company and update our record. According to the Inland Revenue Ordinance, the company has the obligation to submit the audited financial statements, tax computation and the profits tax return annually.
In 3 months after the financial year end date, please provide us with accounting materials for accounting and auditing purpose.
For accountancy service, we will prepare the management accounts including the general ledger, balance sheet, income statement, account receivable report and account payable report according to the accounting materials from the company.
For auditing service, we will prepare the audited financial statements and the profits tax computation according to the management accounts.
When the audited financial statements and the profits tax computation have been prepared, we will send them to you for approval.
We will submit the signed financial statements, profits tax computation and the Profits Tax Return to the IRD.
The IRD will issue a Profits Tax Assessment to the company.
The company should pay the profits tax refer to the profits tax assessment on time.
(According to the Inland Revenue Ordinance, all Limited Companies in Hong Kong have the obligation to submit the audited financial statements, tax computation and the profits tax return annually for reviewing. )
The following listed items are crucial to accounting and auditing procedures:-
| No. | Document |
|---|---|
| 1 | Bank statements and copy of saving books |
| 2 | Cheque stub |
| 3 | Expenses payment vouchers |
| 4 | Sales invoices and bank-in-slips |
| 5 | Payment vouchers with Supplier’s invoices |
| 6 | Petty cash records |
| 7 | List of fixed assets |
| 8 | List of accounts receivable and accounts payable |
| 9 | The breakdown of salary allowance and remittance statement of MPF |
| 10 | Lease agreement / Tenancy agreement |