AlphaCS

Accounting & Taxation


To comply with Hong Kong Companies Ordinance, it is a statutory requirement to prepare financial statements annually.

Our accounting professionals have commendable occupational integrity and prudent account-processing skills. Compliance with accounting standards in Hong Kong, our services not only help to save operational costs but also to improve business management and profitability with analysis, and suggestions made based on relevant information.

We are able to design and implement the best service plan which meets the accounting standards through our thorough understanding of client’s business, in order to assist the client to focus on their core business development.

General Services Include:

  • Periodical accounting (monthly, quarterly, bi-annually or yearly accounting per your request)
  • Financial Statement preparation
  • Review of accounting record
  • Assessment of accounting policy adopted

Annual audit is an indispensable procedure for each Hong Kong Limited Company. Audits on organizations’ accounts are an independent and objective manner which carried out in accordance with the relevant auditing standards and guidelines.

Other benefits of auditing include:

  • To detect area that may have potential problem in the Company and allow Directors and Shareholders to take action in advance;
  • To assist our clients to understand their needs and to give them timely advices on management control;
  • To help clients manage risk so that they can focus on their core business.

To ensure professional and quality services, our team members have the qualifications from any/all of these:

  • Hong Kong Institute of Certified Public Accountants
  • Hong Kong Institute of Accredited Accounting Technicians
  • LCCI International Qualifications
  • Institute of Chartered Accountants in England and Wales (ICAEW)

Under Hong Kong Inland Revenue Ordinance, profits taxpayers mean persons, including corporations, partnerships, trustees and bodies of persons that profit from carrying on trade, profession or business in Hong Kong.

Annual Tax Filing

The assessable profits (or adjusted loss) for each year of assessment are calculated with reference to statutory allowable income or receipts and deductions for the basis period according to tax law and regulations.

We will offer the annual tax filing service, who is assisted by professional accountants with a perspective view of tax related issues. (i.e. Profits Tax Return, Employer Return).

Tax Exemption Claim

Hong Kong adopts territorial concept of taxation. Generally speaking, a Hong Kong company may not be required to pay tax for its income generated outside of Hong Kong with certain proof.

In general case, the claim for offshore tax exemption is lodged together with the submission of the first profit tax return. IRD will normally request the Company to provide additional information and documents to support the claim. IRD may review randomly selected transactions and check whether the various activities involved in these transactions were taken place offshore.

Hong Kong is famous for its low tax system in the world and relatively simple. All three major taxes are direct taxes, named Profits Tax, Salaries Tax and Property Tax.

Salaries Tax

Hong Kong adopts a territorial basis of taxation.

All individuals, whether a resident or non-resident of Hong Kong, are subject to Hong Kong salaries tax on:

  • Hong Kong-sourced employment income
  • Income from an office held in Hong Kong, and
  • Income from a Hong Kong pension.

We will offer a series of services which would help you to handle every single step and keep you updated the newest circumstances change.

Property Tax

Property Tax is charged on the owners of land and/or buildings in Hong Kong and is computed by reference to the actual consideration payable to the owner in respect of the right of use of the property.

A corporation letting property in Hong Kong is regarded as carrying on business in Hong Kong and should be subject to profits tax in respect of its property income.

Sole Proprietorship and Partnership

Sole proprietorship is business run by a single individual who makes all the decisions, although the proprietor may engage employees. Profits from the business will be taxed at the sole proprietor’s marginal tax rate, and business losses can be offset against the other income of the proprietor.

A partnership is made up of more than one person or company. Partners pay tax on their share of the partnership profits at their respective marginal tax rates, and their share in the partnership losses can be offset against their other income.

Unlike a limited company, sole proprietor is personally entitled to all of the profits and is responsible for any debts that the Company incurs. Similarly, partners in a partnership are personally liable for the acts of the other partners and for all of the debts of the Company.

As the sole proprietor or partner, you are required to report the business profits or losses, and Profits Tax will be charged based on the assessable profits of the sole proprietorship or partnership business.

Tax Advisory

Our team is experienced in handling tax matters and provide professional advice to individual industry segments.

We aimed at provide valuable tax advice to enable you to have a complete picture of all the issues, achieve business objectives and manage risks.

Our services include:

  • Tax planning and advisory for corporations and individuals
  • Tax computation and tax return filing
  • Assistance in handling enquiries from Inland Revenue Department
  • Declaration of tax extension and tax objection

Corporate Restructuring

Corporate restructuring can make full use of capital to enhance work efficiency, reduce cost and optimize capital structure, so as to increase corporate benefit and competitiveness.

Our professional team is available to perform independent professional assessment, provide professional advices and value added solutions after thorough understanding of your business.