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How to account for travel expenses of registered Hong Kong company?

Released Date: Oct 15,2021 Article Source: HUANZE

With the integration of the global economy, an increasing number of Chinese entrepreneurs have incorporated companies in Hong Kong, some using Hong Kong companies for import and export trade, some using Hong Kong companies for controlling subsidiaries, and some using Hong Kong companies for brand promotion.

With the integration of global economy, inHong Kong incorporated companyA growing number of Chinese entrepreneurs are using Hong Kong companies for import and export trade, for controlling subsidiaries and for brand promotion. If the import and export company must carry out accounting audit and tax declaration every year, if the Hong Kong company sends employees on business and incurred travel expenses, it can be included in the expenses of the Hong Kong company and write down the profits. The travel expenses of Hong Kong company should be noted:

First: to provide travel expenses reimbursement;

Second: provide the original documents of travel expenses, such as air tickets, high-speed train tickets, etc.;

Third: the personnel on business trip should be employees of the Hong Kong company, so it should be reflected in the payroll;

Fourth, there should be records of travel expenses, which can be transferred from the Hong Kong company to the employees, or the personal accounts of the directors and financial personnel of the Hong Kong company can be transferred to these employees. If the amount is small, cash payments will work.

Usually a normal oneHong Kong company registrationThere will certainly be some travel expenses incurred in the subsequent operation. Therefore, it is recommended that the Hong Kong company account for some travel expenses so that when making offshore claims (profits tax exemption) in the future, the company can answer questions related to the assignment of employees on business. This will increase the chances of successful offshore claims in Hong Kong.

How to account for travel expenses of registered Hong Kong company?

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