Many clients who set up a Hong Kong company think that everything is completed after the annual inspection, but it is not the case that another tax audit is needed. What is the difference between annual audit and audit in Hong Kong?
Many are trueHong Kong companyOur clients think that everything has been completed after the annual inspection, but it is not the case that we still need to handle another tax audit. What is the difference between annual audit and audit in Hong Kong?
Hong Kong companyThe annual audit is carried out in the Companies Registry and the Business Registration Division on the 12th month of the establishment of a company, while the Hong Kong company audit is carried out in the Inland Revenue Department on the 18th month of the establishment of a new company. These two periods are different, they are doing two different kinds of work. In terms of content, the annual review of Hong Kong companies is limited to what the company's business allows, namely the updating of business registration certificates and annual reports. This is an update that every Hong Kong company must do every year on the day it is established. An audit only validates and approves the company's financial accounting objectives.
Qualitatively, it's bothHong Kong companyThe necessary guarantee of late establishment. Failure to update the Hong Kong company's annual review will result in a fine or a court summons if the fine continues to be ignored. This has implications for company directors, as well as penalties and the need for a supplementary audit if the company does not process tax returns or conduct an audit. Hong Kong company audit tax return is in Hong Kong company's fiscal year each year4month1Daily declaration.
CycloseThe company is committed to providing domestic and foreign customers with corporate audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many private enterprises, listed companies and large state-owned enterprises.