THE BUSINESS REGISTRATION ORDINANCE HIGHLIGHT

According Business Registration Ordinance (Chapter 310, Laws of Hong Kong). Every business owner in Hong Kong should ensure compliance with the requirements of the Business Registration Ordinance. Please find the highlight as following: Section 7(2) requires every business owner to notify the Commissioner of Inland Revenue (Commissioner). If the business owner does not receive the …

UPDATED HONG KONG COVID-19 RULES FROM 21 APRIL 2022

Hong Kong will begin relaxing its “Most Stringent” set of social distancing restrictions on 21st April 2022. Food and Health secretary Sophia Chan announced that the following measures will be in place on 21st April. Restaurants can resume evening dine-in services until 10 p.m. with a maximum of 4 people per table. Banquets with a …

VALUE-ADDED TAX EXEMPTED IN CHINA

The Ministry of Finance and the State Taxation Bureau issued a joint announcement (No. 15 [2022]). China is extending the value‑added tax (VAT) exemption policy for small‑scale taxpayers and small business firms. The exemption has started since April 2021 due to the Covid-19 pandemic, slow down of business activities across within China and cross-boarder businesses. …

ANNUAL RETURN FILING FOR HONG KONG LIMITED COMPANIES

All local companies incorporated in Hong Kong needs to file an annual return. In order to facilitate the completion of NAR1, key particulars of the company are filed. Whereas this happen at the anniversary date of the annual return as registered and kept by the Companies Registry will be provided. The Hong Kong Limited Company Secretary …

香港有限公司提交周年申报表

所有在香港注册成立的本地公司均须提交周年申报表。为了促进NAR1的完成,公司的关键细节被归档。鉴于这是在公司注册处注册并备存的周年申报表的周年日提供。香港有限公司秘书须在订明时间内向公司注册处递交一份填妥及签署的周年申报表,连同正确的周年注册费。  逾期交付周[…]

公司免征增值税

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[…]

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. …

EMPLOYMENT AGENCIES’ ANTI-EPIDEMIC FUND

Subsidy Scheme for Employment Agencies with valid licence The novel coronavirus epidemic has brought exceptional challenges to Hong Kong. The Hong Kong Government has responded to the needs of the Employment Agencies in an unprecedented manner. Hence, the Labour Department launched the Subsidy Scheme for Employment Agencies under the 6th Round of Anti-epidemic Fund One-off …

2022-2023 HONG KONG BUDGET HIGHLIGHTS

Hong Kong’s finance chief on 22th February, 2022 unveiled a costly HK$170 billion ($21.79 billion) budget. Including tax breaks and consumer spending vouchers, as the city reels under its worst coronavirus outbreak to date. The budget will direct more resources to relieve people’s hardship and provide SMEs with some breathing space so as to stabilize …