If a Hong Kong company does not operate in a fiscal year, it can apply to the government for exemption from accounting, auditing and tax payment in that year, and only need to declare zero tax rate. The Hong Kong government requires enterprises to declare their taxes once a year.
1. Zero reporting time for Hong Kong companies
Generally, a new company will receive a profit tax form from the Hong Kong Inland Revenue Department in1August. If it fails to declare, it must submit the completed profit tax bill to the tax bureau within one month after receiving the tax bill.
Note: If the tax return is delayed, the tax bureau will impose different amounts of fines according to the length of the delay. The minimum fine is HK$ 65,438+0,200.
Consequences of failure to file tax returns: The tax bureau did not receive the tax returns in the second year after filing tax returns, saying that the company personnel would appear in court for trial, pay fines and make up the tax returns. The minimum fine imposed by the court is HK$ 2,000. Failure to appear in court will revoke the Hong Kong company license and may freeze the Hong Kong company account at any time.
Two. Procedures for handling the zero tax rate declaration of Hong Kong companies
1. Received the Hong Kong Corporate Profits Tax Form issued by the Hong Kong Inland Revenue Department.
2. The directors of the Hong Kong company confirm their signatures.
3. Pay the tax filing fee to the agency secretary company.
4. Acting as a secretary company to file tax returns with the Inland Revenue Department.
5. After processing, the agency secretary company will return the declaration result of zero tax rate to the customer.
Three, the following circumstances are not allowed to declare zero.
1, with business records left in the bank account;
2. Both government customs and logistics companies have left import and export records;
3. Purchase and sale relationship with Hong Kong businessmen;
4. The employee has been employed in Hong Kong;
5. Allow or authorize the use of patents, trademark designs and other materials in Hong Kong;
6. Allow or authorize the use of movable property in Hong Kong to collect rents, rental fees and other payments;
7. Entrusted sales in Hong Kong;
8. Other profits from or arising from Hong Kong.
The above answers are for your reference and hope to help you.
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