According to the Hong Kong Inland Revenue Ordinance, a company registered in Hong Kong is required to declare tax to the Hong Kong Inland Revenue Department regardless of whether it operates or not. And the tax bureau will also issue profits tax return to customers, let customers fill in the company profits tax declaration. Many customers have such a misunderstanding when operating Hong Kong companies, think that their Hong Kong companies do not operate or loss of tax, or their business is offshore, offshore income without tax, do not need to do tax declaration. In fact, this idea is wrong, a Hong Kong company has no business to do tax.

We generally divide into two types of tax declaration, business and non-business. After the company is registered in Hong Kong, customers with business will generally choose to make audit reports and submit to the tax bureau for tax declaration. No business may choose zero declaration, but it is better to choose to do the audit report tax declaration, because the company later began to operate will certainly do audit report tax declaration, but the previous year is zero declaration, if then zero declaration of the annual audit report rather than according to the registration date to do audit, accountants will issue reservations about the start time of the audit report. If the company has the needs of bidding, financing, bank lending, etc., the audit report with reservations may be rejected by the bank, and a new audit report of the Hong Kong company with compliance will be issued eventually.

So we registered in Hong Kong after the company has not declared what harm? First, if you do not file your profits tax return within the prescribed time, the tax bureau will have it1200Hk dollar fine. Second, the fine down after the delay to pay the fine and submit tax returns will be prosecuted to the court. Third, the Hong Kong company that does not respond to the lawsuit will be forced to cancel, and the shareholders and directors will be blacklisted by the Hong Kong government. So after your Hong Kong company registration, the matter of tax declaration must be put on the agenda.

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