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Hong Kong companies need to keep good records of business information

Released Date: Nov 23,2021 Article Source: HUANZE

When doing the audit and tax declaration of Hong Kong companies, we often encounter a situation: many customers provide the current bank statement of Hong Kong companies, but what is the purpose of the bank statement? Is it revenue? Cost? The cost? Borrow money? The clients don't even know.

doHong Kong corporate auditWhen filing tax returns, we often encounter a situation: many customers provide the current bank statement of the Hong Kong company, but what is the purpose of the bank statement? Is it revenue? Cost? The cost? Borrow money? The clients don't even know. That would makeHong Kong corporate auditCannot proceed. The root cause of this situation is that Hong Kong company customers themselves do not have the corresponding records.

As we all know, Hong Kong companies are different from mainland companies. Our mainland companies need to report to the tax bureau monthly, quarterly and annual, so the accounts of the current year will generally be recorded and reported in time, but Hong Kong is different.Hong Kong corporate auditAs a result, many Hong Kong companies, especially newly established ones, do not keep clear or clear records of their business. When they need to be audited in the second year, they will find that many banks do not know the specific situation at that time because of the long time period. Income, cost, expense and so on a series of income and expenditure already do not know how to match the bank statement, which will bring great trouble to the audit. Even if the audit report is submitted to the tax bureau, if the Hong Kong company cannot reply the audit report, it will bring great tax risks to the company.

Therefore, in case of trade or bank statement, Hong Kong companies need to organize and record the data, which can not only deal with the audit of Hong Kong companies and Hong Kong tax Bureau, but also provide good conditions for the company's later business data query.

Hong Kong companies need to keep good records of business information

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.

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