I. Requirements for applying for offshore exemption:
1. Neither the supplier nor the customer is a Hong Kong businessman;
2. The signing procedure of offshore exemption order is not conducted in Hong Kong;
3. The goods are not declared, received or delivered in Hong Kong;
4. Having no physical office in Hong Kong and employing Hong Kong employees;
The Hong Kong government has not left any business records.
Second, the process of applying for offshore exemption:
Application process:
Do accounting audit-submit audited statements and reports to the tax bureau for application-the tax bureau sends a letter on offshore issues-write a reply to the tax bureau and related materials-the tax bureau's examination and approval results.
Precautions:
1. All questions raised by the tax bureau must be answered within a certain period of time (usually one month).
2. If the tax bureau agrees that the company's business is offshore, it will issue an exemption consent.
Generally, within two to three years after the tax exemption consent is issued by the tax bureau, the tax bureau will not ask the company any more questions, but the tax bureau has the final decision. Since then, the tax bureau will ask the company to resubmit documents from time to time every few years.
Three. After submitting the application for offshore exemption:
After submitting the application for offshore tax exemption to the Inland Revenue Department, the Inland Revenue Department will issue a letter, and then you need to answer questions according to the letter and provide relevant business documents.
Business types and key documents for applying for offshore tax exemption (including but not limited to):
1, trade income
Organizational structure of the company: including the names, positions and responsibilities of employees;
Products: what products to sell, product list;
Procurement and sales: methods of finding suppliers and customers, bargaining methods (such as email bargaining), signing place and responsibility, at least the transaction amount, names and addresses of the top five suppliers and customers, and responsible personnel of your company (place and time of business trip, business trip tickets, etc.). ); All transaction agreements, invoices, contracts, customs declarations or invoices, letters of credit, insurance, transport documents, emails, faxes, etc. ;
Whether the employee is a Hong Kong company or subsidiary (if applicable); Inventory location (if applicable);
Payment method: T/T, cash exchange, letter of credit or other means.
2. Service income
Organizational structure of the company: including the names, positions and responsibilities of employees;
Service content, service personnel (tourist location, time, tourist tickets, etc.). ) and service location (the core requirement for judging the source of income, the more specific the better, and it is best to have documentary evidence)
Information of service fee payer: name, address, contact information with the company, etc.
Service contracts and invoices: signatory, time, place and method (such as by mail); Service cost calculation standard;
Subcontractor (if applicable): name, address, payment standard and amount, service content, location, etc.
Bank account information in Hong Kong.
3. Project income
Organizational structure of the company: including the names, positions and responsibilities of employees;
Project location, project nature, project progress report, customer name and address, etc. ;
Project contract, invoice, project income list, settlement method, etc. ;
Subcontractor (if applicable): name, address, subcontract amount, subcontract content and place of supply, etc.
Travel routes of directors or employees (travel location, time, travel notes, etc.). );
Hong kong bank account information, payment methods, etc.
The tax bureau will have an audit period of 8-24 months. If it is approved, the tax bureau will send a letter or email to inform the tax exemption application that it is approved. Then in the next few years, you can make a profit without paying profits tax (after the application is successful, you should pay attention to meeting the application conditions).
Fourth, the success rate of applying for offshore exemption:
1. If you apply for offshore exemption, if it is all offshore business (including providing documents and answering questions well), you are 90% sure.
2. If there is any local income in Hong Kong, it should be listed separately during the audit. Part of Hong Kong can pay profit tax, and the offshore part can continue to apply for offshore tax exemption, but in this case, the success rate is 50%.
5. What materials should I prepare to register a trademark in Hong Kong after registering a Hong Kong company?
Materials for registering Hong Kong trademarks
1. A copy of the company's business license with official seal.
2. Clear trademark patterns, trademark categories and descriptive words.
3. Trademark application.
2 Time for registering a Hong Kong trademark
1, 3-5 working days, you can get the trademark receipt.
2, as long as 6 months can get the trademark registration certificate.
Welcome to discuss with us the related issues of offshore tax exemption for registered Hong Kong companies.