Current tax system in Hong Kong has the characteristics of less tax type, low tax rates, less tax burdens and simple tax collection and administrative procedures.

Major types of taxes include: profits tax, salaries tax, property tax and stamp duty.  Hong Kong currently does not have Goods and Sales tax (GST), dividend tax.  Further, capital income and income sourced outside of Hong Kong are generally not subject to Hong Kong tax.
 

展群CK ® (Handled by CTA and FCPA) focus on providing tax services to SMEs and reducing the overall tax burden (such as the total tax amount of profits tax and salaries tax) through legitimate tax planning, so that funds can be reinvested in your own business.

 

 

展群CK ® (Handled by CTA and FCPA) offer the following tax services:

 

• Appoint 展群CK ® (Handled by CTA and FCPA) as tax representative, preparation and transmission of employer ‘s tax returns, property tax returns, individual income tax, profits tax returns and other tax returns

• Tax planning for individuals and companies to reduce overall tax burden in accordance with the Inland Revenue Ordinance

• Apply for tax refund / correctness of tax assessments / raise objection

• Apply for holdover of provisional tax

• Application of Certificate of Resident to enjoy preferentiate tax rates under tax treaties

• 展群CK ® (Handled by CTA and FCPA) assist and handle IRD tax enquires, field audits and tax investigations, and liaise with the Inland Revenue Department as a tax representative

• Tax Due Diligence exercise before you acquire other business and companies to avoid significant tax risk

• Conduct regular Tax Health Check to ensure your entity is align with tax ordinance

• Pre-IPO tax planning and tax restructuring

• Offshore profits claim, zero tax payable for eligible entities in Hong Kong

• 展群CK ® (Handled by CTA and FCPA) to raise recommendations to reduce stamp duty

• Application of Deregistration for limited companies

• Application of Notice of No Objection for deregistration

 

The Inland Revenue Department will issue profits tax returns to limited companies and partnership, and the profits of sole proprietorship business should be reported in the Individual Tax Return (BIR60). Profits tax returns are divided into three categories:

• Profits Tax Return - Corporation (BIR51)

• Profits Tax Return - Persons other than corporations (BIR52)

• Profits Tax Return - In Respect Of Non-Resident Persons（BIR54）

 

When you appoint 展群CK ® (Handled by CTA and FCPA) as a tax representative, you can apply for an extension of the 2024/25 Profits Tax Returns and extend the filing period to the following dates:
 

• Accounting year end date ranged from 1 April to 30 November 2024 - submission deadline is on 2 May 2025

• Accounting year end date range from December 1 to 31 December 2024 - can be extended to 15 August 2025

• The accounting year end date ranges from January 1 to March 31 2025 - can be extended to 17 November 2025 (profits case) or 2 February 2026 (loss case)
   

Effective from the year of assessment 2018/19, there will be a number of significant changes to the Profits Tax Returns, including taxpayers may need to complete up to 10 supplementary forms, the most frequently filled out of which is Form S1. If the taxpayer chooses to use the two-tier profit tax rate, where the first 2 million taxable profits are 8.25%, and the rest is 16.5%. The taxpayer needs to complete the supplementary form S1 to declare all connected entities operating in Hong Kong.

 

Please note: Signatures for supplementary forms and profits tax returns need to be the same person

 

For further information, please contact 展群CK ® (Handled by CTA and FCPA) :
a. Phone at (852) 3502 7392
b. Whatsapp at (852) 5227 9242
c. Email at info@ck-tax.com