中国免征增值税

财政部、国家税务总局发[2022]15号公告。扩大小规模纳税人和小企业免征增值税政策。由于新冠肺炎疫情、国内企业和跨境企业放缓,从2021年4月起开始豁免。自即日起至2022年12月31日止,免征增值税3%。对季度销售额在45万元以下的小企业,也免征增值税。这是为了在新冠肺炎疫情中支援中小企业,减轻中小企业的经济负担。

2022 TAX RETURN FILING FOR A COMPANY AND AN INDIVIDUAL

Inland Revenue Department (IRD) of Hong Kong has published a schedule for a company and Individual Tax Return Filing for 2022. The bulk issue of Profit Tax Returns and Individual Tax Returns will be sent on 1st April and 1st June respectively. Thus, your green envelop is coming in early April and June as well. …

GOOGLE DRIVE SPEEDUP YOUR ACCOUNTING & AUDITING MATTER

The peak season for Accounting and Auditing is arriving soon! Unlike the monthly bookkeeping, it is impossible to remember what you have done throughout the year. So, setting up a good system on your google drive. Definitely can save your time and provide accurate information to your auditor. Paper Vs Digital? As a small business …

REGISTER EMPLOYMENT LICENSE VIA MOBILE APP IN HONG KONG

From 2022 onwards, registering for an employment license will be much easier. As announced in the Chief Executive’s 2020 Policy Address, the Employment Agencies Administration of the Labour Department will launches e-EAS in the first quarter of 2022. The e-EAS allows Employment Agencies to submit license applications. Also, check their application status easily and conveniently. How …

WHAT TO BE AWARE OF WHEN SIGNING A BANK CONFIRMATION?

What is a bank confirmation? Bank confirmation is the audit procedure. It allows to test the existence, accuracy and the ownership of banks account and bank balance of entity.  When needing a bank confirmation? Entrepreneurs need the confirmation during the interim audit rather than at the completion stage. The auditors review the bank balance and select some …

HOW TO CHECK MY COMPANY FINANCIAL STATUS FROM XERO?

Company Financial Status is similar to physical health of a person. Your physical health is crucial to living a happy and successful life. So applies the same concept to your company. Company Financial Status refers to the state and condition of your company finances. There are four main financial statements to look at when evaluating your company’s …

CAN I CLAIM OVERSEAS INSURANCE FOR A HONG KONG EMPLOYEE?

QUESTION 1: My company in the UK paid a medical plan for a Hong Kong Employee, does it help to claim deductions on tax purpose under a Hong Kong Limited Company? ANSWER 1: No, insurance plan in the UK is not a deductible expense under Hong Kong Profit Tax. Firstly, the expense is not paying …

HOW TO CALCULATE SALARY TAX IN HONG KONG

In order to attract global investment and expat genius to Hong Kong. Hong Kong not only offers an attractive tax regime for corporation and entrepreneurs.  Moreover, it also has a competitive low taxation scheme for personal income tax on Hong Kong Salary tax. Correspondingly, salaries Tax referred to Personal Income Tax as well. Firstly, what …

HOW TO DEAL WITH YOUR FIRST AUDIT IN HONG KONG?

No matter what stage of your business is currently at, tax filing, account and auditing are the major aspects you have to pay attention. You can’t underestimate the outcome if you fail to report on time. Therefore, it is very important to decide when is your financial year end as your first audit. When do …

HOW TO GET PAYPAL STATEMENT FOR ACCOUNTING RECORDS

PayPal offers a faster, more secure way to pay online. It serves as an electronic alternative to traditional banks. Many e-commerce providers uses Paypal as one of the payment solutions.  In order to ensure each transaction details are booked properly for your accounting and auditing, you are also required to download the Paypal statement each month. …