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What's News |
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[ 2022-5-20 ]
Company secretarial servies need a license?
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That's right, starting from March 2018, doing company secretarial services requires a license (Trust and Company Service Provider license). Anyone who does not have a license to provide company secretarial services is an offense and can be fined HK$100,000 and imprisoned for 6 months. If you use unlicensed company secretary, you are risking your time and money.
What are company secretarial services? See the picture below.
Our company is one of the first companies to obtain the "Trust and Company Service Provider License" to legally provide company secretarial services to customers. Nowadays, the company regulations are constantly changing. Our company will always update the latest information and knowledge, so that our customers can focus on the company's business and not worry about the company's law compliance. Our company will always monitor the situation of the client company, provide the latest information and implement regulations, to ensure that the client company is in compliance with the regulations and company regulations.
Our company not only provide professional company secretarial services for Hong Kong and China companies, but also offshore companies such as BVI, Cayman, and Seychelles.
If you have any enquiries about company secretarial services, please feel free to contact us.
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[ 2022-5-13 ]
How much tax do you need to pay this year?
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The Hong Kong Inland Revenue Department will issue the 2021/22 personal tax return in early June, and must be completed and returned to the Inland Revenue Department within the specified time limit (please refer to the table below). Now is the time to calculate your tax, or plan your taxes reduction in a legal way.
Our company has compiled a simplified version of the 2021/22 salaries tax payable calculation table, it can assist in calculating your salaries tax. You only need to fill in the relevant figures in the yellow boxes. The Excel calculation sheet can be downloaded by clicking the link below, or contact our colleagues if you would like to receive. If you think the calculation table is helpful, please also feel free to forward it to your friends.
Please note that this is a simplified version of the calculation table, and the calculation results are for reference only. For more complex situations (such as allowances or expenses, etc.), the calculation will be different. For an accurate calculation of the tax liability payable, please seek professional advice.
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[ 2022-5-6 ]
Our greatest advantage
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Our greatest advantage is our high-quality staff.
Employees are the company's most valuable asset, and their contributions are critical to the company's success. Therefore, our company attaches great importance to employee training, promotes communication between the company and employees, and enhances employees' work-related knowledge and skills.
Our company will regularly hold a variety of professional training activities to improve the quality of employees, including:
1. Professional skills and knowledge training;
2. Share work experience;
3. Introduce the latest market information and development;
4. Inter-departmental professional exchanges, such as: holding workshops to stimulate employees' imagination and creativity, integrate different opinions, and form consensus.
In addition, the leaders of each department release work tips every week, hoping that knowledge can be accumulated little by little every day.
With the development of our company's business, we need to hire more high-quality friends who agree with our vision, to join us and work together with us for the business and success of our customers.
If you have friends who want to join our team, please contact Ms. Wong (2543 3886).
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[ 2022-4-29 ]
Government continues to give out money, but it may be the last.
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The Employment Support Scheme began to apply on April 29th, and the application period is only 14 days until May 12th. Please make sure to apply on time.
There are many differences between this scheme and the previous one. Which are:
1. Friends from the catering industry, last time, it was a choice between the catering industry premises subsidy and the Employment support scheme subsidy. This time, it includes both. Therefore, friends in the catering industry who did not apply for employment support plan last time, remember to apply this time;
2. This time, the number of people who can choose to be subsidized in each subsidy month can be lower than the number of people in the reference month. Please confirm that the company has appropriate employees in the subsidy month, otherwise it will be fined (many friends in the last issue were fined because they could not reach the number of employees applied for in the subsidy month);
3. Self-employed who have an opened self-employed MPF account can also apply for a one-time subsidy of 8,000 dollars. There are other implementation details that are more complicated.
For assistance or questions, please feel free to contact us.
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[ 2022-4-22 ]
Government's 100% guaranteed loan
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The 2022 version of the government's 100% guaranteed loan is ready to apply. Since the interest rate is extremely low (2.75%), it is equal to giving out money.
The principles of this loan are basically the same as the previous two, which are:
1. It is necessary to prove that in any single month from February 2020, the turnover has dropped by more than 30% compared with the average monthly turnover of any previous quarter from January 2019 to March 2022,
2. The loan amount is based on the employee's monthly salary and monthly rent.
3. The company must have been operating in Hong Kong for at least 3 months before March 31, 2022.
The different features of this time from the previous two rounds are:
1. The loan amount is increased to 27 times the employee's monthly salary and monthly rent, or 9 million dollars (deducting the previous loan amount), whichever is lower,
2. Newly opened enterprises (before December 31, 2021) can also apply,
3. The application deadline has been extended to June 30, 2023.
4. The longest loan term is 10 years.
Last year we have made a video to explain the eligibility and secrets of applying for a 100% guaranteed loan. In addition to the new revised terms mentioned above, other details in the video are still worth to know.
please contact our company and we can assist you in applying for a 100% guaranteed loan.
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[ 2022-4-19 ]
Cancelling MPF Offsetting - Pitfalls that bosses should know
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Cancelling MPF Offsetting has entered the legislative stage. But there is a lack of discussion in society, and many bosses don't understand the bill and don't care. In fact, there is a big financial trap in it. Bosses must be aware of it.
1. Thinking that the government will cover the cost
The government will never cover the cost, but will only subsidize part of it, and the subsidy of the long-term service payment has decrease every year. From the 10th year, the subsidy is only 20% or less. In other words, the cost to employers have increased significantly.
2. Providing 1% of the employee's salary to the "special savings account" every year to complete the responsibility
This is a huge misunderstanding. The "Special Savings Account" is used to deduct the long service payment of dismissed employees. It is estimated that within 10 years, when 4 employees leave, the "specialized savings account" will already spend most of the money, and when another employee leaves, the employer will be responsible for all long service payments. Note that the maximum compensation per employee is $390,000. For SMEs with a large number of employees, for example, if 10 employees leave the company, it is 3.9 million, which is definitely not a small number for SMEs.
Mr. Shaw Ka-fai has two videos explaining some of the content, which you can refer to the related link
Bosses, please be sure to understand the content of the draft in detail and make appropriate preparations to avoid a sudden and unbearable debt crisis.
If you are not clear about the calculation of the financial burden of canceling MPF offsetting, please feel free to contact us, we can help you to understand your financial burden.
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[ 2022-4-8 ]
Tax filing season has begin
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[ 2022-3-31 ]
Have you started your recovery (revenge) plan?
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The epidemic has last for more than two years, but we never stopped for a day.
As a responsible service organization, we must continue to serve our customers, and we cannot stop. Although government only provide limited services, the requirements to the citizens/enterprises have not changed, such as tax filing deadlines, annual review deadlines, audit deadlines, and so on.
The work of our company is not only walking with the customers, but also lead the customer to move forward, make suggestions and provide opportunities for them.
The epidemic has starting to slow down, signs of active market and economic recovery have gradually emerged. Some far-sighted customers have actively started to make plans, and our company will of course participate and support them.
Have you started your recovery (revenge) plan yet? If you have already started, we can definitely help you. If you haven't, start planning now.
Our company has diverse services such as corporate services, financial services, consulting services, etc., please visit our website www.easiview.com.hk for more details. We can help you get ahead of recovery. If you have any plans or need consultation or assistance, please contact our company.
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[ 2022-3-25 ]
Green bomb (tax demand note)
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Green may not be a good color for some.
Green bomb (tax demand note) will be issued in April and May 😱
Since the new tax year is about to start. It's time to prepare accounting documents, relevant documents, invoices, etc., for tax declaration. More importantly, do your tax planning. If you are not ready, take advantage of the rest of the week to get ready.
The tax declaration work is becoming more complicated, and the tax bureau's review is becoming more strict, however, there is no increase in the tax-exempt items/tax-exempt amount, and the taxpayer's workload and financial burden continue to increase.
If you want to legally reduce your tax burden and handle tax returns easily, our company can provide professional planning and tax reporting services, including personal tax and corporate tax services.
If you have any questions about tax, for example, whether certain expenses can be deducted, whether personal taxation can save tax, or some complicated issue such as offshore tax exemption application, country-by-country reporting, etc., you are welcome to contact us.
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[ 2022-3-18 ]
Audit report for SMEs
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For SMEs, "audits" have traditionally been done only to meet tax filing requirements.
However, in recent years, the government's financial support for SMEs has increased, long term support such as BUD Fund, Technology Voucher TVP, etc. Recently, the government has also launched a number of short-term support funds such as catering establishments, massage parlors, hair salon funding, etc., all require an audit report issued by an auditor to prove that the funds have been used correctly, or to prove the number of employees and the rent of the premises. Therefore, the importance of auditing to SMEs is increasing.
In addition, to obtain bank financing, especially larger financing, the audit report is also an indispensable part. A beautiful financial report, coupled with an unqualified opinion audit report, can greatly help a business get a loan or lower interest.
In response to the various needs of customers for auditing, since this year, our company has increased the resources and manpower in auditing services to meet the needs our clients and help them overcome this difficult time.
If you have any audit work or inquiries, please feel free to contact our colleagues:
Miss Fan 852-9082 8364
Miss Zhou 852-9772 7678
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[ 2022-3-10 ]
Distribution of nourishing soup packs activity
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Accoutant Edward So, on behalf of the Hong Kong Central District Commerce and Industry organisation, participated in the distribution of nourishing soup packs to organized by the Hong Kong Island Industry and Commerce organisation. The beneficiaries include Residents' Welfare Association, Hong Kong Central & Western District Women's Association, Sai Wan Residents' Welfare Association and Pokfulam Village, etc. We hope that the beneficiaries will be able to maintain healthy in this epidemic.
Although the epidemic is still severe, it is believed that the peak period has passed. The implementation details of the government's various preferential policies and subsidies have not yet been announced.
Please keep an eye on our facebook or website for any news updates.
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[ 2022-3-3 ]
The 2022/23 Budget for individual and businesses
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The 2022/23 Budget was announced last week and most of them that targeting individual and businesses are "old wine in old bottles". Some of them are helpful to individuals or businesses are as follow:
For individuals
1. 100,000 dollars per year tax exemption for residential rental expenses
2. Short-term unemployment benefits
For Businesses
1. 100% guaranteed corporate loans, extending the application deadline to the end of June 2023, and the upper limit has increased to 9 million dollars, or 27 times the sum of the employee's monthly salary and rent
2. Postponement of arrears rent recovery arrangements
3. New funding under the Epidemic Prevention Fund.
Details of the implementation method or plan are yet to be announced. The application process has always been complicated, and it is necessary to understand whether you are eligible to apply/declare.
If you want to know more about the above policy or apply for assistance, such as 100% guaranteed loan, subsidy under the epidemic prevention fund, etc., please contact our company, we can assist in the application process.
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[ 2022-2-25 ]
The Budget during the pandemic
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Hong Kong Sage United Accounting Professionals Committee has submitted financial advice to the Hong Kong government according to the epidemic situation, which has reported on the News on February 23.
Accountant, Edward So, the deputy director of the committee, worked with other members to prepare this recommendation. The Government's response to the four points in the proposal are as follows:
1. Distributing Consumption Voucher: The government adopted the committee’s suggestion of distributing consumption voucher of HKD 10,000, but did not adopt our suggestion on only distribute to citizens who had received injections, and the distribution time continued to be slow, failing to resolve the urgent needs of citizens and SMEs;
2. The maximum salaries tax and profits tax relief remains the same as last year's which is HKD 10,000. It is disappointing that the Government fails to understand the current situation of rapid economic deterioration and increases the tax allowance;
3. Increase the tax exemption for anti-epidemic donations: In Hong Kong, this is a very new, very bold but explosive concept. The government failed to respond immediately and missed a good opportunity to encourage the public to fight the epidemic together;
4. Extending the application period for 100% government-guaranteed loans: It is somehow done, but there is no mention of simplifying the approval process. The details will depend on the details of the implementation later.
Hopefully the Hong Kong government will listen to public opinion, respond quickly and decisively, and implement various policies that benefit the people. Don't be discouraged, keep working hard for Hong Kong!
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[ 2022-2-18 ]
Prepare tax filing and tax payment
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[ 2022-2-11 ]
5th Round of Anti-epidemic Fund
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The 5th round of Anti-epidemic Fund is ready to apply. The government has first announced the subsidy scheme for beauty parlors, massage parlors, party rooms, etc. and the application has began on February 7, 2022. Additional subsidy scheme will continues to announce in the future. please pay attention to the updates on our Facebook or website.
In fact, except Anti-epidemic Fund, there are also some regular distribution programs, such as BUD fund, Technology Voucher (TVP), Market Fund, Job Creation Program, etc., which are waiting for everyone to receive money.
Friends who are interested in applying can contact our company.
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