After the company is registered in Hong Kong, it is one of the important matters to handle the audit on time in order to ensure the reasonable operation and compliance of the company. According to the provisions of the Hong Kong Company Law, after the company is registered in Hong Kong, even if no business occurs, it should be audited.
Hong Kong company registrationAfter that, in order to ensure the reasonable operation and compliance of the company, auditing on time is one of the important matters. According to the provisions of the Hong Kong Company Law, after the registration of a Hong Kong company, even if no business has occurred, audit should be done.
Because every year4The Hong Kong Inland Revenue Department will issue a tax return to the Hong Kong company around January. Upon receipt of the tax return, the Hong Kong company needs to complete the tax return and submit the Hong Kong Company Auditor's report (i.e., audit report). This audit report is to tell the tax bureau about the operation of your company: whether there is any business, whether it is onshore or offshore, whether it is profitable, whether it needs to pay tax, how much profit tax it pays, etc. If you do not submit your tax return and audit report on time, the tax bureau will not only assess a high tax on your Hong Kong company, but also risk the company's directors and shareholders being sued.
Generally speaking, there are two situations after the registration of a Hong Kong company: the first is that the Hong Kong company has normal operation, but no business has happened for the time being, so it needs to do the audit report of inactive business (namely zero declaration). The second is the company has normal operation, also has business, has opened a bank account, it needs to do active audit report. In addition to explaining the company's operation situation to the tax Bureau, the bank of deposit also requires the Hong Kong company to provide the audit report every year to understand the operation situation of the company. If the Hong Kong company fails to provide the audit report, the bank may require the Hong Kong company to submit the audit report within a time limit, otherwise the bank account may be frozen or even closed. Besides, there is no compliance audit report, which is not conducive to the development of other businesses of the company and affects the normal development of the company.
Therefore, after the registration of your Hong Kong company, you can judge whether you want to handle zero declaration or audit report according to the actual situation. It is also a necessary condition for the normal operation of the company to handle it according to the requirements in the specified time.
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