The Inland Revenue Department (“IRD”) issues tax returns to individuals, sole proprietors, partnerships, property owners and limited companies. Such persons and corporations should complete and file the tax return within a period of time from the issue date of the tax return together with the required documents to the IRD. Profits tax return will be issued within 18 months from the commencement date of business of companies in Hong Kong. Should the person haven’t received the profits tax return from the IRD, he/she should notify the IRD its chargeability of Hong Kong Profits Tax.

We keep ourselves well informed of legislation affecting taxes in Hong Kong and China. With our expertise and experience, we strive to help companies to make the best use of tax concessions, and therefore reduce tax liabilities and enhance business profitability.

Our mission is to help our clients to fulfil their tax filing obligations timely, report their assessable income appropriately and minimize their tax liabilities properly under the tax legislations.  We are also experienced in handling the enquiry letters issued by the IRD and dealing with the IRD on field audit cases for our clients.

Tax Advisory

Hong Kong adopts a territorial concept on taxation of profits, i.e. only those profits which are sourced in Hong Kong are subject to tax. In addition, capital gain is exempt from Hong Kong Profits Tax. Taxpayers may lodge offshore or capital non-taxable claims on their income derived, which will not be subject to tax in Hong Kong. Deduction claims will also apply to capital expenditure under specific tax rules.

Persons and corporations receiving passive income such as interest income, dividend income and royalty income from overseas companies may be subject to overseas withholding tax, where they can apply to use a lower withholding tax rate (or even zero withholding tax rate) if Hong Kong has double tax treaty with the overseas jurisdiction, provided that these persons and corporations obtain a Certificate of Resident Status (“COR”) from the IRD.

We can help our clients to identify any tax planning opportunity to reduce their tax liabilities, e.g. assessing the feasibility of the offshore claim and advising clients on restructuring their business models to strengthen the validity of the offshore claim, making use of specific tax rules to lodge deduction claims on their capital expenditure and providing any way to minimize the tax liabilities legally according to the tax law.

We are also experienced in handling applications for COR for clients and already obtained numerous CORs for our clients successfully.

We keep ourselves well informed of legislation affecting taxes in Hong Kong and China. With our expertise and experience, we strive to help companies to make the best use of tax concessions, and therefore reduce tax liabilities and enhance business profitability.

Stamp Duty

Stamp duties are imposed on transfer of Hong Kong properties and shares, where exemption may apply in some scenarios, e.g. intra-group relief. We are professional in advising our clients how to minimize their stamp duty liabilities, complete the stamping process and applying for stamp duty relief.

The scope of our tax services include:

Filing of profits tax return, individual tax return, employer’s return and property tax return
Handling enquiry letters issued by the IRD
Handling field audit cases
Advising on tax issues and update to the tax legislations
Advising on feasibility of offshore claim and specific
Deduction / Concessions
Applications for Certificate of Resident Status
Advising on stamp duty issues
Stamping and Stamp Duty Relief applications
Hong Kong tax due diligence and structuring