customerHong Kong companyReceived the profits tax notice from the tax bureau, but failed to pay the profits tax on time due to personal reasons. So what are the consequences of late profits tax payments? Any tax payable under the Inland Revenue Ordinance pursuant to the provisions of the Inland Revenue Ordinance shall be paid in the manner indicated in the notice of assessment on or before the date specified in the notice. Failure to do so shall be deemed to be in arrears. If the first instalment is not paid after the date specified in the notice of assessment, the second instalment will be deemed to be immediately due. The total amount of tax outstanding in the notice of assessment will be deemed to be tax in arrears and will be subject to immediate recovery by the Inland Revenue Department.

The Commissioner may immediately initiate statutory recovery action under the Inland Revenue Ordinance ( Including levying a 5% surcharge, issuing a recovery notice to a third party and taking legal action ) To collect the money owed.

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.