After the company is registered in Hong Kong, it needs to issue the audit report of Hong Kong company every year, and then declare. If the Hong Kong company has any onshore profits that are subject to profits tax in the current year, it is required to submit a tax form to the Hong Kong Inland Revenue Department.
After the company is registered in Hong Kong, it needs to pay out every yearHong Kong corporate auditReport and then declare. If the Hong Kong company has any onshore profits that are subject to profits tax in the current year, it is required to submit a tax form to the Hong Kong Inland Revenue Department. After examining the tax table, the tax bureau will issue a tax receipt. In addition to the tax payable in the current year, the tax bureau will also calculate the profits tax payable in the next year based on the profits of the current year. The advance tax shall be paid together with the tax payable in the current year.
Next yearHong Kong corporate auditAfter that, if you encounter losses, you can apply to the Hong Kong Tax Bureau for refund of the profits tax paid in advance. After the application is reviewed, a refund notice will be issued. A transfer cheque will be attached to the notice to refund the tax paid in advance. The Hong Kong company, upon receipt of the cheque, will need to6Pay within a month, and note that many mainland Chinese banks are unable to process rebate checks and may not receive rebates if you have only mainland accounts. Only if the Hong Kong company has an offshore account, such as a bank account with a Hong Kong bank, can it receive the rebate. Therefore, it is better for Hong Kong companies to open bank accounts with overseas banks.
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