Registered Hong Kong companyAfter that, the Hong Kong company needs to make account and tax declaration every year. After the tax declaration, if the Hong Kong company has profits in the current year and they belong to onshore profits, it needs to pay profits tax to the Hong Kong Tax Bureau. When issuing the profits tax receipt, the tax bureau will not only verify the tax of the current year, but also calculate the expected profits of the next year based on the same amount of the profits of the current year as the estimated profits of the next year. The advance tax shall be paid at the same time as the tax of the current year.

In the next year, if the profit is less than the tax bureau expected or it is a loss, then you should not pay tax. You can apply to the tax bureau for refund of the profit tax paid in advance. After reviewing the application, the Inland Revenue Department will issue a notification of tax refund. A transfer cheque will be attached to the notification to refund the overpaid tax. After receiving the rebate check, the Hong Kong company should pay the6If the Hong Kong company only has bank accounts in mainland China, many banks will not be able to process the rebate check. The rebate check can only be paid if the Hong Kong company has an overseas account (such as opening a bank account with a bank in Hong Kong). Therefore, after the registration of a Hong Kong company, in addition to opening an account in a domestic bank, it is better to open a bank account in an overseas bank.

CycloseThe company is committed to providing domestic and foreign customers with corporate audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many private enterprises, listed companies and large state-owned enterprises.