Recently, I have received a lot of inquiries from new friends. They are receiving tax inquiries from the tax bureau, or have been investigated by the tax bureau.
In fact, the government treasury is empty today, and increasing tax investigations may be a way to increase treasury revenue in the short term. It is foreseeable that the number of tax inquiry or investigation cases will continue to increase next year. However, when Hong Kong is facing a difficult economic period, this approach may make the company worse, and it is the opposite to the government's policy of promoting economic recovery after the epidemic.
In recent years, the Hong Kong Inland Revenue Department has taken a stance on tax inquiries or investigations very strict, even unreasonable, and ignores real business practices. It is quite different from the previous direction that was based on laws or cases. Faced with the aggressive attitude of the tax bureau, the defense is often very difficult, and the final effect is not ideal.
In fact, the best way to deal with tax inquiries or investigations is to do a good and clear tax declarations, keep clear documents, and try to avoid suspicion from the tax bureau and lead to investigations. When an inquiry is encountered, the required information can be provided as soon as possible to avoid turning it into an investigation case. Therefore, the annual auditing, tax declaration and other work are the most important and should not be underestimated.
The goal of our company is to make tax plans for customers every year, and to do clear tax returns every year without causing any doubts.
If you have any tax-related inquiries, please feel free to contact us.
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