Hong Kong company needs to do annual audit every year, specific can be divided into administrative annual audit and tax annual audit.

Administrative annual audit:

1. Delivery of the company's annual return NAR1

Within 42 days from the first anniversary of incorporation, the Hong Kong company shall deliver its annual return, NAR1, to the companies registry each year at an administrative fee of hk $105.Those who fail to pay within the time limit will be fined. The specific amount of penalty is as follows:

1. Within 42 days to 3 months: HK $870;

2. 3-6 months: HK $1,740;

3. 6-9 months: HK$2,610;

4. 9-12 months: HK $3,480.

2. Renew business registration certificate (BR)

The renewal of business registration certificate (BR) must be handled by the tax bureau one month in advance of the due date. The fee: HK $2,205, and there is a fine. The overdue fine of business registration certificate is HK$300.In 2019, it will be deducted from 2000 and only need to pay HK $205.
 

Business registration fee and levy may be waived if the average monthly business transaction does not exceed the following limits:

A business that is mainly profitable by providing services: $10000

Other business: $30000

Annual tax audit:

1. Employer salaries tax

Time: Salaries tax returns will be sent out on 2 April each year with a deadline of one month

Employer's tax return (BIR56A IR56B)"

Continuous employment including single persons with a total annual income of $132,000 or above;All married employees;All part-time employees and directors.

Employer's tax return (IR56E)

Employers are required to submit a copy within three months for new hires.

Employer's tax return (IR56F)

The employer should submit a copy one month before the employee is to cease employment (or die).
 

2. Personal salaries tax

Personal salaries tax returns for tax year commencing on April 1, 2008 and ending on March 31 of this year will be mailed on May 2 of each year.

May to July: tax filing period

This month in the year of assessment 2018/19 revenue head issued 2.68 million individual tax returns to the citizens need to declare dutiable goods, if received tax returns, remember to fill out and send it back to a month, and mail tax returns should be returned on or before June 3, and declare dutiable goods online can be automatically postponed a month, must be completed on or before July 3, declare dutiable goods.

October: notice of assessment

If you file your tax return successfully, you will receive an "assessment notice" from the inland revenue department (ird) in October, which will set out in detail the basis of assessment, the final payment dates for the first and second instalments of tax.

January and April: first and second tax payable

Tax demand notes for the first and second instalments have been attached to the demand notes. Members of the public can pay tax in different ways. They should not pay tax later than the last payment date of the demand notes. Otherwise, they may be regarded as tax evasion by the inland revenue department.
 

3. Corporate profits tax

The company is required to report profits tax to the Hong Kong tax bureau every year.
 

Dates: going concern business: profits tax returns are issued on the first business day of April each year.
 

1. Accounting: financial processing for 1 month;After the customer provides the materials, our company enters the accounting stage, which needs to be completed in about one month. After the completion, we will send the financial statement to the customer
 

2. Audit: 1-3 months;After the customer confirms the statement, it enters the audit link.Since our company did not participate in the actual operation of customers, we need active assistance from customers in the audit process.After the audit, send the draft audit report to the customer for confirmation.
 

3. Tax declaration: 7-10 working days;Upon receipt of the client's signed report, we will submit the tax bureau to declare.Once the declaration is completed, you can get the audit documents.
 

Reference process: sign the agreement for making account and tax return → make payment → sort out documents, account processing → finish making account → submit to auditor for audit → finish audit → submit report to shareholders for signature → go to government for tax declaration with signed audit report → return relevant documents to customers.