Hong Kong's fiscal year is different from that of mainland China, which follows the Gregorian calendar year, i.e1month1Day to year12month31While Hong Kong's fiscal year is annual4month1From one day to the next3month31Day. How to determine the audit, accounting period or closing date of the Hong Kong company?

According to the Hong Kong Taxation Ordinance, the maximum time limit for a newly established Hong Kong company to submit an audit report for the first time is from the date of the company's establishment18The date of establishment of the company is2019years10month1Date, the first audit, audit report accounting period can be up to the longest2021years4month1Day, there are many agencies on the market is to give customers such advice, this is of course not wrong, but in the end is suitable for the actual situation of this Hong Kong company? It's a case by case situation. For example, the parent company of this Hong Kong company is a domestic company, and the domestic company does auditing every year, so it needs to audit the financial data of its Hong Kong subsidiary in parallel tables. The domestic fiscal year ends12month31The Hong Kong subsidiary is4month1If the date is inconsistent, the financial statements or audit reports of the Hong Kong subsidiary shall be made again according to the accounting period of the parent company, which will lead to repeated work and increase unnecessary costs. Before making audit reports for clients, Lianze will give reasonable suggestions after fully understanding the client's situation and the intended use of the client's audit reports. For example, the accounting period of the first audit report of the above-mentioned Hong Kong company can be determined as2019years10month1Day arrival2020years12month31Because the accounting period at this time is14Months, in line with the law.) In this way, the accounting period can be kept consistent with the domestic parent company, and an audit can resolve the problem and avoid trouble.

If the current audit accounting period of your Hong Kong company is not appropriate and you need to make adjustments, you can make adjustments in the latest audit, as long as the accounting period can be satisfied if the first audit report does not exceed18Months, beginning with the second report and not exceeding the accounting period12In a month, there will be no problem. You only need to submit a specification to the tax bureau to make a reasonable explanation when submitting the audit report. We have dealt with a lot of such customers. We are familiar with the laws of Hong Kong and have rich experience. We can help customers easily fulfill their legal obligations, ensure the normal management of the company and escort the business development of customers.

CycloseFocusing on providing company 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 large state-owned enterprises and listed enterprises.