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Reporting: Hong Kong

All companies in Hong Kong, regardless of whether they conduct their business in Hong Kong, or outside of it, must file tax returns.

Each Hong Kong company submits the following documents to the Hong Kong Tax Department every year:

  1. Financial Statements;
  2. Auditor’s Report;
  3. Profit Tax Return;

If the company did not conduct business during the reporting period, a zero tax return is filed.

Deadlines for filing financial statements

The first reporting period lasts 12 or 18 months after the company is registered in Hong Kong. The date of the end of the fiscal year in Hong Kong can be chosen December 31 or March 31. You are free to choose the reporting period before the first submission of reports. Subsequently, the end date of the reporting period does not change and the fiscal year lasts exactly 12 months.

  • Companies whose fiscal year ends on December 31 are required to register the accounts before August 15 of the following year.
  • Companies whose fiscal year ends on March 31 are required to register their accounts before November 15.

To prepare financial statements, it is necessary to transfer the following documents to us:

1. Statements on all bank accounts of the company.

2. Copies of all contracts for which operations took place during the reporting period; contracts must necessarily have the relevant details (signatures and stamps of the parties, and must also be the date of their signing).

3. Copies of all invoices for the reporting period, invoices must also have the relevant details (date, signature, stamp); invoices for the purchase and sale of goods should reflect the item (name) of the product, the unit of measurement, the number of units, the price per unit of goods, the total amount of the item and the total amount of the invoice.

4. Copies of transport documents (subject to the company's trading operations).

5. If transactions were carried out on the basis of so-called agency contracts, then, without fail, agency reports containing information on the quantity and value of the goods purchased and sold on behalf of the principal, as well as the amount of the agency fee (commission), must be submitted.

6. Journal of business transactions (if you keep).

7. Information on related parties: on subsidiaries and affiliates: it is necessary to disclose the structure of the group (number of related parties, percentage of ownership); in addition, it is necessary to provide the financial statements of subsidiaries on the date corresponding to the end of the financial period of the Cyprus company, or closest to it; We usually ask for a balance sheet and a profit and loss statement (for Ukrainian companies this is Form # 1 - balance sheet and Profit and Loss Report - Form # 2).

8. All additional documents that you consider necessary to provide, especially specific to your business.

9. All documents must be translated into English.