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What's News |
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[ 2023-8-11 ]
Interview by Metro Finance Radio Hong Kong
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Edward So & Company, Certified Public Accountants was honored as a finalist brand in the "2023 Famous Brands Hong Kong" conference. A few days ago, he was interviewed by Metro Radio's "Brand Success Road" program, introducing the company's philosophy and experience in creating a brand. The recording of the interview was broadcast on Metro Finance Channel at 7 am on August 5th.
The purpose of Edward So, Certified Public Accountants is to become the business partner of customers. We provide customers with comprehensive business management and consulting services in a professional and efficient manner, characterized by understanding customers' needs and assisting customers to solve various business problems, enabling customers to grow rapidly and improve profitability, together with us to grow and reach success.
Establishing a brand is also based on pragmatic work and solid service, understanding the situation and unique requirements of customers, providing customers with useful and valuable services, establishing a good reputation, and passing on word of mouth from customers, thus establishing a solid foundation.
The interview was conducted in two parts with a total duration of approximately 20 minutes. Dear friends, you can listen to it when you are riding a car or eating, and learn more about our service purpose and work.
Please click the link below to listen:
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[ 2023-8-4 ]
Mask, does anyone still want it?
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The epidemic is over and the mask order has been revoked, but there is still a lot of demand for masks. Especially in public transportation, or during large-scale events, it is roughly estimated that more than half of the people will wear masks. Wearing a mask is a good measure of self-protection.
However, for elderly, weak and disabled group, the expenditure on masks is still a big burden.
The Hong Kong Central District Commerce and Industry Association (CDA) received a batch of masks donated by Ms. Sharon WONG, a member from the association, who has contacted friendly charities/groups to donate masks for charity and/or regional work purposes. In the past few weeks, masks have been distributed to six charities/groups, with a total of more than 100,000 masks, and a simple gift ceremony was held.
The recipient organizations/organizations are as follows:
Central District Kai Fong Welfare Association
Liberal Party Tin Keung Power Center
The Hong Kong Wuyi Association
The Lions Club of Hong Kong Sun
Stewards
Sham Shui Po DC Members Lau Pui Yuk Office
Accountant So Kwok Wing is the president of CDA. In addition to actively promoting Hong Kong's economy and business, CDA also participates in regional affairs, bringing the power of the business community back to the grassroots and giving back to the society.
If you would like to donate materials for charity or community purposes, or are interested in joining the Central District Federation of Industry and Commerce, please contact us.
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[ 2023-7-28 ]
Waves of Business Opportunities
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The "International Assest and Risks Management Association" (iARMA), with CPA So Kwok Wing as the founding chairman, and CCKT held the second business gathering on 25 July 2023.
In the evening, Mr. Jim Kwok, vice chairman of the Hong Kong Family Office Association, was invited to explain the work and business opportunities of family offices. According to Vice-Chairman Kowk, the family office involves many business areas, not only trust and investment, but also education, immigration, etc. It is a huge business opportunity for many industries in Hong Kong. Family office business is a long-term business, Hong Kong's current advantages are no worse than Singapore, who developed in this industry first.
In addition, Colan Yiu, from Public Health Medical Center, was invited to explain the non-invasive advanced heart detection. It is a risk management for personal health, and it can also become a business.
More than 40 friends came that night, and everyone was enthusiastic and communicated enthusiastically. Many of them still stay behind after the party, we can see that Hong Kong people are positive and enterprising.
The International Assets and Risks Management Association (iARMA) was established to promote asset risk management and family trusts. In response to the upcoming promotion work, friends who are interested in asset risk management are actively invited to join as members.
For membership information and details, please contact us.
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[ 2023-7-21 ]
Estate Planner
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Mr. SO Kwok Wing, Edward recently obtained another professional qualification: Associate Estate Planning Practitioner (AEPP).
AEPP is accredited by the Society of Wills Writing and Estate Planning (SOWW) and the Singapore Estate Planning Company (EPPL). The AEPP accreditation is a highly respected qualification, widely recognized in Singapore, Malaysia, Indonesia, Hong Kong and Taiwan. Since 2007, there have been more than 6,700 bankers, accountants, lawyers and financial planning-related licensees in Singapore and other Asian regions.
Estate planners strengthen core consulting services for high-end people through family wealth inheritance planning: they can provide high-end customers with comprehensive estate planning and wealth inheritance planning services in terms of law, trust, and finance.
This professional certification and qualifications are in line with the work of Mr. So as Accountant as the founding president of the International Asset and Risk Management Association (iARMA). The purpose of iARMA's establishment is to promote the risk management of enterprises and individuals in terms of assets, especially the use of family trusts, to ensure the safety of assets.
For more information about iARMA, please visit the website:
https://iarmahk.org
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[ 2023-7-14 ]
What does birthdays have to do with Hong Kong and China integration?
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This week, our company has organise a birthday party to celebrate employee's birthday from May to August. There are many colleagues who have birthdays within these months, with blessings, cakes, and applause, we celebrate together.
Our collegues in Shenzhen office also have birthdays during this period, and we celebrated their birthday together.
Celebrating birthdays seems to be a common habit of people all over the world. No matter what nationality or culture, there are ways to celebrate birthdays.
Although Hong Kong and Shenzhen are the two most important cities in the Greater Bay Area and their geographical environment is very close, there are differences in terms of culture and habits.
Business customs and laws in Hong Kong and China are very different. Friends who has started to develop business in the Greater Bay Area should have seen these differences, which bring difficulties in business operations.
Our company have offices in both Hong Kong and Shenzhen, with employees who are familiar with local laws and customs, we can provide our clients with faster, more convenient and Continuity of service.
Our aim is to "To grow together with our business partners and to enjoy the results." Friends who want to develop business in the Greater Bay Area are welcome to contact us.
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[ 2023-7-7 ]
New Focus in the Greater Bay Area - Jiangmen
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The Hong Kong Jiangmen Association held the inauguration ceremony of the 20th board of directors and supervisors last week. Dozens of seats were held. Jiangmen and Hong Kong government officials, regional leaders, and business friends were invited to participate, including representatives of the Guangdong Federation of Returned Overseas Chinese, representatives of the Jiangmen Federation of Returned Overseas Chinese, Hong Kong business, Deputy Director of the Economic Development Bureau, and the member of the Legislative Council, the scene was lively.
Accountant So Kwok Wing is the executive vice chairman of the current Jiangmen Association.
The deeper significance of the inauguration ceremony is to create an opportunity for businessmen and friends in Hong Kong to get to know each other with local officials and leaders in China, exchange knowledge and wisdom, and lay the foundation for friends from Hong Kong to enter Jiangmen in the future.
Jiangmen is one of the nine plus two members of the Greater Bay Area, and its transportation facilities are improving day by day. Its operating costs are lower than other cities in the Greater Bay Area, and its development potential is huge.
We will continue to pay close attention to the advantages, opportunities and various preferential policies of Jiangmen's development in the Greater Bay Area, and provide relevant information to our customers and friends, so that everyone can seize the opportunities in the development of the Greater Bay Area and make it bigger and better business.
Our aim is to "To grow together with our business partners and to enjoy the results".
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[ 2023-7-7 ]
Attention: New Tax Filing Requirements
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As always, the Inland Revenue Department has issued about 220,000 profits tax returns this year. Unlike the past, there are new requirements for tax filing this year, everyone should pay special attention to avoid late filing, omission of reporting, fines, and tax investigations.
In the past, the tax bureau required that only the company's which annual total income are more than 2 million dollars, needed to enclosed audited accounts (for limited companies) or the company's management accounts (for other enterprises). Many companies may even do"zero declaration".
In fact, the so-called "zero declaration" means that the company does not operate any business at all and does not own any assets. However, it is very common to see companies that hold self-occupied properties, self-used vehicles (license plates), or receive a small amount of income, will make this "zero declarations" (maybe instigated by some unlicensed/bad tax agents), and this is actually illegal.
The new requirement this year, is to submit audit reports or management accounts regardless of whether the company is in operation (unless it is a true "dormant company" and registered with the Companies Registry).
Please note that auditing needs to be done continuously every year, not just in the middle year of tax declaration. Therefore, if you need to do an audit report, you need to start from the last audited year or even the company’s establishment date. It sometimes needs to do several years or even decades all at once. The workload is very heavy and it takes a long time to process. .
Therefore, if the profits tax return has been received this year, the audit work of previous years must be processed as soon as possible so that it can be completed before the tax return deadline.
Our company is a licensed accounting firm in Hong Kong, with more than 30 years of experience in handling various taxation. Our aim is to "To grow together with our business partners and to enjoy the results". If you have any tax questions, please contact us.
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[ 2023-7-7 ]
China Taxation Qualification
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Mr. SO Kwok Wing as a accountant was awarded the "Hong Kong and Macau tax-related professionals China (Guangdong) Free Trade Zone Shenzhen Qianhai Shekou District Practice Registration Certificate" issued by the Shenzhen Taxation Bureau of the State Administration of Taxation, authorized to conduct tax-related business in Qianhai District, Shenzhen. It can assist friends who have business in China and Hong Kong, or plan to conduct business in both places, to provide more convenient and effective solutions to tax issues in China and Hong Kong.
On January 19, 2021, the Shenzhen Municipal Taxation Bureau of the State Administration of Taxation issued the "Interim Measures for the Practice and Management of Hong Kong and Macao Tax-related Professionals in the China (Guangdong) Pilot Free Trade Zone Shenzhen Qianhai and Shekou Area", which provides Hong Kong tax advisers and Macao accountants across the board. It provides convenience for overseas practice.
According to Article 5 of the "Tax-related Professional Service Supervision Measures (Trial)", successful applicants can perform cross-border tax declaration agency, general tax consultation, professional tax law consultant, tax planning, tax-related certification, tax payment review, other tax Matter agency and other tax-related services, a total of eight categories.
Through cross-border practice, the business scope of tax accountants can be greatly expanded, and more opportunities can be increased, which is no longer limited to local development in Hong Kong. At the same time, it can bring the excellent international tax knowledge and perfect governance principles of Hong Kong tax accountants to domestic institutions to achieve mutual benefit.
Dear friends, if you have any tax questions, please contact us.
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[ 2023-7-7 ]
Celebrating the Return of Hong Kong and the Development of the Greater Bay Area Forum
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What is the relationship between the return of Hong Kong and the development of the Greater Bay Area?
The Hong Kong Central District Commerce and Industry Association held a event to celebrate the return of Hong Kong, and a forum of development in Greater Bay Area on the evening of June 15.
This year marks the 26th anniversary of Hong Kong's return to the motherland. The party invited Dr. CHAN Pak Li, Bernard, Commerce and Economic Development Bureau, Office of the Secretary for Commerce and Economic Development, and Mr. Chow Ho-ding, a member of the Hong Kong Legislative Council and Vice Chairman of the Democratic Alliance for Betterment of Hong Kong, to officiate at the ceremony, and more than 80 guests and members attended.
After the handover ceremony, the Greater Bay Area Development Forum was held immediately. First, Dr. Dick Ng of Foshan CPPCC talked about the business environment of Foshan City and the preferential and supportive policies provided by the government.
Then Mr. Wen Yuqing, deputy general manager of Shenzhen Chenghan Group, introduced Chenghan Group and the Youth Innovation Community located in Longgang District, Shenzhen. And the preferential policies for entrepreneurship that can be provided.
Finally, Mr. Chan Kong Man, talked about his experience of starting a business in Nansha, the advantages of Nansha and the support that can be provided. The purpose of this symposium is to provide information and practical ways to get started for friends who intend to enter the Greater Bay Area.
After Hong Kong returned to the motherland, it has its strong backing. The Greater Bay Area is rich in resources and business opportunities. It is also close to Hong Kong, and the cultural and habits are similar to Hong Kong. The Hong Kong business community has great advantages in developing in the Greater Bay Area.
Accountant So Kwok Wing is the president of Hong Kong Central District Commerce and Industry Association (HKCDCNIA). The goal of the HKCDCNIA is to "communicate with industry and business, unite forces, and create business opportunities together."
For information on past activities of the HKCDCNIA, please refer to the website: https://hkcdcnia.org
The HOng Kong Central District Commerce and Industry Association welcomes friends from all business circles. As long as you agree with our vision, please join us and build Hong Kong together.
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[ 2023-7-7 ]
The "tax" is raging, be careful
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Recently, I heard from customers/friends that many of their friends have received tax inquiries or tax investigation letters from the tax bureau. There are so many cases that it can be said that there is one nearby.
I don't know if it's because the national treasury is empty, or the tax bureau is going to step up its efforts to pursue tax inspections and investigate cases. Indeed, it has increased significantly since last year.
In any case, tax evasion and tax fraud are illegal and criminal offences, with serious consequences. Once convicted, the maximum penalty for each charge is imprisonment for 3 years and a fine of HK$50,000, plus a fine equivalent to three times the amount of tax under-collected, with a retroactive period of 7 years. For underreporting caused by fraud or deliberate tax evasion, the retrospective period can be as long as 10 years.
The best (and only) way to avoid tax investigations or inquiries is to do your tax return every year and not take it lightly. But more importantly, it is to find a licensed accountant who has experience and sincerely wants to help you. He can advise the most appropriate tax declaration and tax payment plan according to the different situations of the client; instead of filing taxes indiscriminately or not paying taxes.
Our company is a licensed accounting firm in Hong Kong, with more than 30 years of experience in handling various taxation. Our aim is to "To grow together with our business partners and to enjoy the results'.
If you have any tax questions, please contact us.
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[ 2023-6-2 ]
The first step into the Greater Bay Area
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The relationship between Hong Kong and the mainland is getting closer and closer, and serving the RMB has become a major trend. The motherland vigorously promotes the development of the Greater Bay Area, and the governments of the Greater Bay Area are actively launching various preferential and support programs. Undoubtedly, developing in the Greater Bay Area is an "instant" opportunity for Hong Kong companies. However, the domestic business environment is quite different from Hong Kong, with numerous regulations and high tax rates. If you rush in without careful planning, it is easy to lose money.
A better plan is, of course, to establish a headquarters or a holding company in Hong Kong, and then expand the business to the Greater Bay Area, taking advantage of the complementary advantages of Hong Kong and other regions to accelerate the promotion of business and profitability.
The advantages of Hong Kong are its relatively complete legal system, low tax rate, free flow of funds, and high efficiency. It only takes one or two days to set up a company. In addition to set up a Hong Kong company, you can also build the most suitable business structure through different offshore companies, which is beneficial to tax savings and long-term development.
Our company can provide suggestions for appropriate structure plans and establish structures in response to individual circumstances of customers.
Our company's purpose is to provide customers with comprehensive business solutions, with professional and cost-effective services, to help customers solve business problems, accelerate business expansion, increase profitability, and grow together with us to achieve success.
If you want to be successful with us, welcome to contact us anytime.
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[ 2023-5-25 ]
University of Hong Kong Student Entrepreneurship Competition
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Accountant Edward So was invited by the Innovation and Technology Center of the University of Hong Kong to be the judge of the University of Hong Kong Student Entrepreneurship Competition.
Young people are usually full of ideals (fantasies), and their suggestions can be wild and unconstrained. However, the participating teams of the University of Hong Kong are all of high quality, and their entrepreneurial suggestions are more realistic, and they have great potential and can be implemented in practice.
Entrepreneurship by young people is a policy actively encouraged by the Chinese government and the Hong Kong government. However, from the presentations of the participants, it can be seen that they are all focused on business concepts, often lacking in implementation details, market plans and financial analysis.
Based on our many years of experience and what we have seen, we propose the following three suggestions to entrepreneurs or friends who develop new businesses:
1. Maintain a positive and positive attitude, welcome failures and setbacks at any time, and prepare for a comeback;
2. Do a good job in equity allocation. Clarify the division of labor, authority and profit distribution method with partners to avoid confusion and disputes in the future;
3. Prepare detailed financial plans and budgets in the early stage, keep appropriate accounting records, prepare financial statements, report regularly, and adjust business strategies in a timely manner in response to financial conditions.
The above point 1 may be a natural personality, or need to be counseled by a psychiatrist the day after tomorrow.
Regarding points 2 and 3, our company can assist entrepreneurs to establish an appropriate company structure, allocate equity, assist in the preparation of budgets, provide accounting services, and provide management consultation and advice.
If any entrepreneurs need assistance, please contact us.
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[ 2023-5-19 ]
Shenzhen - Hong Kong of two cities
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Recently, I have visited several highest points in the Shenzhen-Hong Kong Loop: the 40th floor of Shenzhen Changfu Jinmao Building in Futian, the 50th floor of Qianhai World Trade Center, and the Lok Ma Chau Police Station in Hong Kong (a small hill only tens of meters high, But it is the highest point in the vicinity), to learn about the cooperation and development between Shenzhen and Hong Kong.
To the north of the Shenzhen River are developed high-rise buildings, new technology parks, bonded areas, etc. There are many buildings and full of economic vitality. However, the south of the Shenzhen River is full of woods and wasteland. I feel that the development of Hong Kong and Shenzhen in recent years has gone the other way, as if returning to the 1970s. One side is a bustling city and the other is a wild countryside. But the difference is that the roles have just been reversed.
But from another point of view, Hong Kong has developed slowly in recent years, and there is more room for catching up behind. Moreover, Hong Kong still has its own characteristics: internationalization and low tax rates. Entrepreneurs can use Hong Kong as a base and take advantage of international contacts to enter Greater Bay Area market.
Our company can assist customers to establish a suitable corporate structure, set up Chinese companies and offshore companies, handle tax planning and tax reporting, register trademarks and various business support services, so that customers can quickly take advantage of Hong Kong's international advantages and enter China and overseas in a short time The Greater Bay Area market captures the great opportunities of economic recovery.
If you have any questions or inquiries about setting up a corporate structure, setting up a Chinese company, an offshore company or a Hong Kong company, please feel free to contact us.
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[ 2023-5-12 ]
Bosses also need to meet target
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In the commercial society, we pay attention to efficiency when doing things. Everyone must set goals, implement them, and evaluate the results in order to effectively achieve the goals.
As the boss of the company, of course there is no exception, and you have to run a few more steps.
Accountant Edward So attended a variety of different activities this week, including:
1. Participated in the Hong Kong General Chamber of Commerce and had lunch with Mr. Lam Kin-fung in the Legislative Council, to understand the work of the Legislative Council and the cooperation between the business community.
2. To attend the "Music of East and West" music evening organized by the Central and Western District Association for Cultural and Art and the Central and Western District Office, and be the guest of honor, bringing a joyful and relaxing evening to the residents of the Central and Western area;
3. As the vice-chairman of Hong Kong Zhongshan West District Association, meeting with the Zhongshan District leaders who are visiting Hong Kong and discuss the economic interaction and businessvcooperation between Zhongshan and Hong Kong.
The above activities are splendid, but the purpose is to find more resources and business opportunities for our clients, our partners, and our company. With the recovery of society and the positive momentum of economic recovery, various business opportunities are constantly emerging. To grasp the current momentum, we should increase our efforts.
Our company's goal is to "grow together with customers and share results", to provide customers with various business services and cooperation opportunities.
If you have any business or inquiries, please contact us.
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[ 2023-5-5 ]
HAPPY BIRTHDAY to our employees!
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Last week, our company held a birthday party for employees. Cutting cakes and birthday song are necessary, more importantly, are everyone joyful laughter.
Another reason of celebrating birthday is to thank our parents for giving us life, We are thankful for the hard work of great parents! We wish all mothers, Happy Mother's Day!
Raising and educating children are the bounden duties of parents. They hope that their children will grow up and make positive contributions to society.
Our company also treat our employees as sons and daughters, as partners, and is committed to providing various trainings to enhance employees' professional knowledge and work ability, to explore their potential, to provide good services to customers, and to achieve our philosophy: "grow together with customers and share results" .
In order to cooperate with the development of our business, we need more talents to join our team. If anyone is interested in joining our team to provide customers with high-quality and effective services, including: accounting, auditing, taxation, company secretarial and various clerical work, please contact Ms. Huang at 2543 3886.
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