How to proof my income is offshore-sourced?

Offshore claim is not automatic, it needs to be applied through application to IRD. Usually, offshore-sourced income must at least fulfill all of the following conditions: Proof of profits not derived from Hong Kong with sufficient proofs of transactions which give rise to such profits are provided. No business activities which produced the relevant profits …

Is my income liable to profit tax in Hong Kong?

The territorial concept of taxation in Hong Kong recognises that a Hong Kong business may generate profits from different geographical sources. Only profits sourced in Hong Kong may be subject to profits tax (15% on assessable profit). Profits sourced outside Hong Kong are possibly not taxable. However the distinction between onshore and offshore profits is …

The Difference Between Financial Statement, Annual Return and Audit Report

For those wanting to understand the different between 1.       Financial statement 2.       Annual return 3.       Audit report  Below explains the details and process: Firstly we help create the 1. Financial Statement for your company‚Äôs accounting to show the financial activities including the income and outgoing transactions, after this is done, we will send a draft for client approval and/or …