China Corporate Tax: Resident and Non-Resident Enterprise

China Corporate Tax  In Hong Kong, it’s commonly named as Profit Tax. Whereas, taxable income for companies in China are named as Corporate Income Tax. Corporate Income Tax Law in China detailed Implementation Regulations on Taxpayer and Taxable Income.  China’s tax year starts from the first day in the calendar year and ends with the last day in …

China Corporate Income Tax – What is the Correct Tax Rate?

China Corporate Income Tax According to the Enterprise / Corporate Tax Law. Centre O highlighted the few main articles about the Corporate Income Tax rate as below:  Article 3 A Resident Enterprise should pay Corporate Income Tax on its income generated from both inside and outside China; A Non-Resident Enterprise has set up institutions or …

Easily Get Bills and Receipts into XERO via HubDoc

To sumHubDoc is a data capture tool that extracts key data from a company’s financial documents. Then publishes these account transactions in XERO. It allows users to upload their financial documents through multiple means. For example, email, manually upload, or imported via third-party automated features. HubDoc is one of the popular apps for XERO. As …

Taxation Myth in China: Central & Regional Government Allocation

Taxation Myth in China Have you ever heard that in China the revenue from State Administration of Taxation belongs to the Central Government? And the income of Local Tax Bureau belongs to the Regional Government? In fact, the tax bureau is not the organisation to allocate the tax. Taxes go to the Central Government: 100% …

Xero Cloud Accounting- Your Life-Time Business Partner

Dealing with numbers in businesses are never easy. In fact, if you want to expand your business, financials data acts as critical element when making decisions. Furthermore, Xero Cloud Accounting can help you collecting sales data, issuing invoices, generating reports to help you on your daily operations.   What is XERO? XERO is the world-leading …

New Employment Scheme for Startup Entrepreneur in Dongguan, China

Dongguan Local Government confirmed to launch a New Employment Scheme to support the new startup entrepreneur during the Covid 19. The scheme is to provide a one-off financial support to the new startup company to have new employment. Is your Company Eligible for the Scheme? New established company, registered within 3 years in Dongguan, China …

How Cloud Accounting Can Help Startup Businesses?

How Xero can transform your startup?  Starting a new business is challenging. Xero, the cloud accounting system streamlines tedious administrative tasks and gives you more time to spend on innovation and sales. Manage your financials on the go from anywhere with via the mobile app. Understand your financials better with the business performance dashboard, so …

Why you need to tap into Asian Market through Hong Kong?

Absolute advantage of Hong Kong Hong Kong is the great gateway to access Asian market. Stepping in Hong Kong as a pedal is smart strategy for most international companies. Hong Kong has an unbeatable prime location in Asia and also has a good connection with the rest of the world. Besides the absolute advantage of …

Hong Kong Trademark Registration System and Application

Hong Kong Trademark Registration System is very similar to UK and US system. Many business owners may think once they have their Hong Kong Trademark Registration applied, their logo or brand will be protected. Centre O is not going to upset you. However, the truth is not the same. After your trademark registration is applied in …

What is Employees’ Compensation Insurance in Hong Kong?

Employees’ Compensation Insurance is one of the major business insurance in Hong Kong.  It is a statutory cover for employers and their employees. Its sustainability has wide and deep impact on the protection of the interests of employers and employees as well as the stability of the overall insurance market. What are the roles of …