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The application of offshore profit judgment of Hong Kong companies

Released Date: Jan 17,2022 Article Source: HUANZE

We know that if a Hong Kong company engages in offshore business, that is to say, its profits are earned outside Hong Kong, it does not need to pay Hong Kong profits tax according to the Hong Kong tax law.

We knowHong Kong companyIf the business is offshore, meaning profits are earned outside Hong Kong, it is not subject to Hong Kong profits tax under Hong Kong tax law. The offshore conditions are determined by the specific business conditions of each Hong Kong company.

As oneHong Kong companyTo provide consulting services to its clients in Hong Kong. The consulting contract is signed with the clients in Hong Kong.INVOICEIt is also issued by Hong Kong company to Hong Kong customers. However, the consulting service fee was paid by the Japanese subsidiary of the Hong Kong client. In this case, even though thisHong Kong companyThe recipient is not the Hong Kong customer, but the Japanese company outside Hong Kong. But in fact, this business is with the Hong Kong customer, and the Japanese subsidiary only pays the money on behalf of the Hong Kong customer. So the business is still deemed to be onshore and the resulting profits are derived in Hong Kong and therefore subject to Hong Kong profits tax.

The application of offshore profit judgment of Hong Kong companies

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