Mr Edward So, Certified Public Accountant, is a certified tax adviser and a member of the Taxation Institute of Hong Kong.  He is also a fellow member of Hong Kong Institute of Certified Public Accountants and Chartered Association of Certified Accountants of United Kingdom.  He has many years’ experience in dealing with Hong Kong taxation issues.

Hong Kong Inland Revenue Department ("IRD") will issue tax returns to individuals, sole proprietors, partnerships, property owners and limited companies each year.  The relevant parties / companies must complete and submit the tax returns together with the requested accounts and information to the IRD within a specified period (normally within one month period).

Upon receiving the tax returns, one can complete them and return to IRD by himself.  However, the general taxpayers do not have professional knowledge on taxation issues, if the tax returns are not handling properly, any wrongly completion or omission in any part of the form may lead to extra tax or waste of their time. At the worse, taxpayers may contravene the Inland Revenue laws and be prosecuted and fined.

We can provide professional tax planning and advice according to the clients’ specific postion, handle various tax issues for clients.  Our expertise include:

●     Assist in computations of tax liability based on the clients' position and advice how to complete tax returns in order to minimize their tax liabilities,

●     Completion of Profits Tax returns, Individual Tax returns, Property Tax returns,

●     Completion of individual tax returns, handle personal assessment and apply for the applicable allowances,

●     Assist employers to complete their employers’ return,

●     Assist clients to handle inquiries issued by the IRD, field audits and tax investigation,

●     Provide tax advice on minimizing tax liabilities legally.

Your attention is drawn to the maximum penalty for omission of income or profits in tax returns:

●     The taxpayer is liable on conviction to a fine of treble the amount of tax, or amount underpaid

●     If it is a serious offence, the taxpayer may be sentenced to imprisonment and to pay a fine of treble the amount of tax, or the amount of tax underpaid

We can assist in computations of the tax liability based on the clients' unique position and advice how to complete tax returns in order to minimize their tax liabilities

With our in-depth experience in handling tax cases, we assist taxpayers to claim for their right under revenue law, reduce unnecessary taxes payment and fines, avoid any fine or troubles caused by wrong or omission in tax returns.

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Completion of Profits Tax returns, Individual Tax returns, Property Tax returns

Under the Inland Revenue Ordinance, any persons, including corporations, partnerships, trustees and bodies of persons carrying on any trade, profession or business in Hong Kong are chargeable to tax on all profits arising in or derived from Hong Kong from such trade, profession or business.  The accounts of the limited companies are needed to be audited by Hong Kong Certified Public Accountants with practicing certificate.  The audited accounts should be sent together with completed tax returns to IRD.  If the tax returns are failure to file before the deadline, an initial fine of several thousands or above will be charged; or else the taxpayers may be prosecuted by the IRD.

Property tax is charged on the owner of any land or buildings wherever situated in Hong Kong, at the standard rate on the net assessable value of the respective land and buildings.

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Completion of individual tax returns, handle personal assessment and apply for the applicable allowances

If an individual has salaries income, properties income, or profits from business, he can select report tax on individual basis or by personal assessment.  We will make a detailed computation and choose the more suitable tax reporting way to reduce the taxes.

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Assist employers to complete their employers’ return

From the employment of the first staff, a company is liable to perform the tax duty as an employer.  The employers have to retain payroll records of employees, keep these records for at least 7 years, and report remuneration paid to all employees by submitting Employer's Returns on time.

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