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> Hong Kong Company - Private Limited Company > Annual Maintenance > Tax Filing
General Information
Profit Tax - Hong Kong
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Process of applying for Offshore Operation Tax Exemption
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Offshore income claim is not automatic. It needs to be applied. It can be done by 2 ways : - Advance Ruling
- Before you start the operation, write to HK tax department (IRD), describe your intended operation and request for "Advance Ruling";
- Example of advance ruling = [ Example ]
- The fee for this starts from around HK$50,000 ;
- Tax Filing
- 1st filing request will normally issued by tax department around 18 months after company incorporation date;
- Usually the company has around 3 months to handle the filing;
- The period to cover is usually from incorporation date to 31/3 of next year;
- Therefore, the company can also start arranging the filing work - even the filing request is not issued yet.
- What documents are require for Tax Filing ?
| Item 1 : | Financial Statement (in case of limited liability company, this should be audited by Hong Kong CPA); | | Item 2 : | Tax computation | | Item 3 : | Offshore operation tax exemption application |
For a company does not need to apply for tax exemption, only Item 1 and 2 are required to be submitted to HK tax department. When tax exemption application is required, Item 3 is required as well. In Item 1, all income (onshore and offshore) of the taxpayer company should be reported. In Item 2, tax payable needs to be calculated according to tax rules in HK; In Item 3, at least below 2 document sets are included: - Organization chart (Company function structure) showing which function is performed offshore
- Walk-Through document example of a deal showing how an offshore income business is handled. (pls select one of the largest in amount and typical);
If apply for tax exemption without giving sufficient information. Tax department will issue a letter asking for proof. [ Document Sample ]
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