Arrangement of Audit Services

 

According to the Companies Ordinance, the annual financial statements of a limited company incorporated in Hong Kong is required to be audited by a Certified Public Accountant with a practicing certificate issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA").

We will arrange the annual audit and the filing of the tax return to the Inland Revenue Department for you.

 

Medium-sized Company：Depends on number of transaction and complexity.

(Note: you have to prepare profit and loss account, balance sheet and ledger for audit purpose. Accountancy fee may be charge in case you are in lack of these documents. )

 

The deadline for submitting and the penalty for late submission of tax return to the Inland Revenue Department are as follows:

Limited company
Situation		Matters to be noted
Financial year ending 31 December:
1.First receipt of tax return		- return the tax return within three months, together with the audited accounts.
2.Starting from the receipt of the second receipt of the tax return		- return the tax return on or before 31 August each year, together with the audited accounts.
Financial year ending 31 March:
1.First receipt of tax return		- return the tax return within three months, together with the audited accounts.
2.Starting from the receipt of the second receipt of the tax return		- return the tax return on or before 15 November each year, together with the audited accounts.
Financial year ending on other dates (ie, not 31 December or 31 March):
1.Upon receipt of tax return		- return the tax return within one month, together with the audited accounts.

 

 

 

 

Penalty for the late submission of the tax return

The maximum penalty for the late submission of the tax return is HK$10,000. If it is found that the tax return is always submitted late, Inland Revenue Department can additionally charges a 10% of the tax payable as penalty charge.
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