Hongkong Company Tax Assessment

Hongkong Company Accounting and tax filling
Hotline: 86-755-82148419, Email: susiehu@citilinkia.com, Wechat: 13823131503

The Inland Revenue Department (“IRD”) has issued a notice on their website advising that the Inland Revenue (Amendment) (Tax Concessions) Bill 2019 was passed on 6 November 2019 by the Legislative Council. The new Ordinance gives effect to the tax concessions proposed by the Government in 2019, i.e. reducing salaries tax, tax under personal assessment and profits tax for the year of assessment 2018/19 by 100 per cent, subject to a ceiling of $20,000 per case. The IRD intended to issue Tax demand notes for the year of assessment 2018/19 in December 2019 though in reality many of us have still not received our tax bill. The IRD does however, expect to issue the majority of the demand notes for the year of assessment 2018/19 before the end of March 2020.  

Due to the delay in issuing the assessment, due dates for tax payment are generally set 6 weeks after the respective dates of issue on the demand notes. As a result, tax payments are mostly falling due from January to May 2020.  Therefore, please make due arrangements to pay taxes promptly in accordance with the due dates to avoid penalties and any inconvenience that may be caused by any recovery action taken by Inland Revenue. 

ATAHK is an expert in corporate formation, trademark registration and all the follow-up business-related activities. ATAHK has established a sound service network worldwide for the small and medium-sized enterprises, all the services are business-orientated and solution-orientated.Through years of development, we have developed a service network in China’s major cities like Beijing, Shanghai, Guangzhou, Shenzhen, and popular cities among foreign people like Dongguan, Chengdu, Yiwu, Xiamen, Nanchang, Tianjin,three branches in Hainan. Equipped with competent consultancy team,ATAHK is able to provide various business solutions from business incubation, business operation to business management.

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For further inquiries about investment in China, please do not hesitate to contact us at anytime anywhere by simply calling China hotline at 86-755-82148419, or emailing to susiehu@citilinkia.com.