As of 2018/2019, companies pay 8.25% on profits up to HK$2 million and 16.5% on any profits over HK$2 million.
If your business is unincorporated then rates are 7.5% on profits up to HK$2 million, and 15% on profits that are over HK$2 million.
Yes. It doesn’t matter how many employees you have or how much profit you make, all Hong Kong businesses are required to fill out their Employer’s Return within 30 days of receiving it.
There are typically 3 forms that you need to fill out and send to the Inland Revenue Department.
Be sure to fill out and send these forms as quickly as possible otherwise, you stand subject to possible fees or prosecution.
That’s why we always recommend that you hire a one-stop agency like Korchina. Here at Korchina we can handle your accounting/ audits, as well as provide your registered office address and receive your mail. This means that we will be providing service to fill out your tax forms once we receive them, so you don’t have to worry about anything.
Contact us today to inquire about how our taxation services in Hong Kong can help you.