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  • To Arrange on Behalf of the Employer

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  • To Process Application with the HK Competent Authority

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  • Front-End Financial Reporting

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DID YOU KNOW HK TAX RATE?

Profits Tax 2017/2018
Companies: 2008/09 Onwards 16.5%
Unincorporated Businesses: 2008/09 Onwards 15%
Property Tax 2017/2018
Standard Rate: 2008/09 Onwards 15%
Salaries Tax [Personal Allowances & Deduction Applied] 2017/2018
First HK$40,000: 2009/10 Onwards 2%
Next HK$40,000: 2009/10 Onwards 7%
Next HK$40,000: 2009/10 Onwards 12%
On the Remainder: 2009/10 Onwards 17%
Standard Rate: 2009/10 Onwards 15%
Personal Allowances 2017/2018
Basic Allowance HK$132,000
Married Person's Allowance HK$264,000
Child Allowance  
    Each Child (1st to 9th)  
    - Year of Birth HK$200,000
    - Other Years HK$100,000
Dependent Parent / Grandparent Allowance  
    Aged 60 or Above  
    - Not Residing with Taxpayer HK$46,000
    - Residing with Taxpayer Throughout the Year HK$92,000
    Aged 55 to 59  
    - Not Residing with Taxpayer HK$23,000
    - Residing with Taxpayer Throughout the Year HK$46,000
Dependent Brother / Sister Allowance  
    - For Whom No Child Allowance Has Been Claimed HK$37,500
Single Parent Allowance HK$132,000
Disabled Dependant Allowance  
    - In Addition to Any Allowances Already Granted for the Disabled Person HK$75,000
Maximum Deduction for Expenses 2017/2018
Self-Education Expenses HK$100,000
Charitable Donations 35% of assessable income
Contributions to Recognised Retirement Schemes HK$18,000
Elderly Residential Care Expenses HK$92,000
Home Loan Interest HK$100,000

* The information above is based on the announcement and publication of 2017-18 Hong Kong Budget.

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What People are asking?

Hot query

If I’m the ONLY staff of my own co., do I need to file Employer’s Return?

  • According to the Company Ordinance, even if your company does not have any apid staff during the fiscal year, it is still mandatory for the company to file the Emplyer's Return within the indicated time (normally about 30 days) when it is received.
  • If your identity to the company is Director, then you are entitled either one of the following remunerations: Director’s fees or Director’s salary. Both types are taxable.
  • Thus, no matter there is no staffs hired in your company, as an active director to the company, you ought to report to the government through filing the Employer’s Return to the IRD.

What types of tax returns I’ll need to file in HK?

  • There are mainly 3 types of tax returns that you will need to file to the Inland Revenue Department (IRD): Employer's Return, Profits Tax Returns and Individual Tax Return. Each entrepreneurs are obligated to files these 3 tax returns each year ever since the first return is issued. 
  • Typically both Employer's Return and Profits Tax Return will be issued on the first working day of April each year from the IRD; while the Individual Tax Return will be issed on the first working day of May each year. You ought to complete your tax filing with meeting the official compliance within 30 days from the date of issue, or there could be penalties or even prosectution against you.

Do I need to file tax returns to the HK Govt for my offshore business?

  • Yes, you need to file tax returns to for your offshore business. In fact, every limited companies in HK have to file their tax returns but there could be different types and some might be able to help you be tax savvy.
  • One of the key questions is whether your company truly owns an offshore business. Like some of the companies registered in offshore jurisdictions are also liable to HK Profits Tax, it depends if there is any profits that are generated from HK, you still need to file the Profits Tax Return compulsorily. 
  • On the contrary, if your business does not have any profits arising in or derived from HK, no matter where the company is registered (in HK or offshore jurisdictions), then your company could be claimed as an 'offshore business'. As a result, your company may claim for tax exemption. 
  • Hence, finding a reliable firm at the initial stage is crucial so both your hassles and time can be saved. 

Someone told me I can skip my Profits Tax Return if no income. Is that true?

  • The answer is a big 'No'. In any case, if you own a company, you are obligated to file the Profits Tax Return along an audit reports and tax computation with satisfying the compliance, even when your company is not generating any profits. 
  • Yet, it is possible that after a few years of unprofitable performance, the company may stop receiving the Profits Tax Return. Then, the company is not required to contact the IRD again until it starts arising the profits in the current fiscal year. Then, you are obligated to notify the IRD of its tax chargeability within 4 months after ending the profit-making year. 
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