{"id":5227,"date":"2022-02-08T10:43:57","date_gmt":"2022-02-08T10:43:57","guid":{"rendered":"https:\/\/www.elitestage.cn\/?p=5227"},"modified":"2023-03-29T11:18:30","modified_gmt":"2023-03-29T11:18:30","slug":"get-ready-2022-hk-company-audit-peak-is-coming","status":"publish","type":"post","link":"https:\/\/www.elitestage.cn\/fr\/get-ready-2022-hk-company-audit-peak-is-coming\/","title":{"rendered":"Get Ready! 2022 HK Company Audit Peak is coming!"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-5228\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1.jpg\" alt=\"\" width=\"852\" height=\"720\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1.jpg 852w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1-300x254.jpg 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1-768x649.jpg 768w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1-14x12.jpg 14w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1-80x68.jpg 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1-620x524.jpg 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1-460x389.jpg 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1-365x308.jpg 365w\" sizes=\"(max-width: 852px) 100vw, 852px\" \/><\/p>\n<section>\n<section>\n<section>\n<section>\n<section><strong>HONG KONG<\/strong><\/section>\n<\/section>\n<section>\n<section><\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section>Every year, Hong Kong Companies shall complete the profit tax return and submit it to Inland Revenue Department, and usually it&#8217;s a coming peak for accounting and audit.<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section><\/section>\n<section>\n<section>\n<section>\n<section><strong>Profit Tax Returns Fillings<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section>Annual corporate income tax returns\u00a0<strong>must be<\/strong><strong>fined\u00a0<\/strong>with Inland Revenue Department on<strong>\u00a01 April every year<\/strong>. There&#8217;s a risk of penalties id the deadline is missed.<img decoding=\"async\" class=\"alignnone size-full wp-image-5229\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/2.jpg\" alt=\"\" width=\"724\" height=\"459\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/2.jpg 724w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/2-300x190.jpg 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/2-16x10.jpg 16w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/2-80x51.jpg 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/2-620x393.jpg 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/2-460x292.jpg 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/2-365x231.jpg 365w\" sizes=\"(max-width: 724px) 100vw, 724px\" loading=\"lazy\" \/><\/p>\n<section>As per Companies Ordinance \uff08section 405\uff09\uff0call Hong Kong companies are required to have their\u00a0<strong>financial statements audited<\/strong>\u00a0and submitted to the government annually. Accounting records and books must be maintained reflecting the accurate solvency of the company.<strong>Consequences of late filling<\/strong>: the court may impose a fine up to<strong>\u00a0HK$10,000<\/strong>\u00a0and a fine of 3 times the amount of tax undercharged.Elite Stage accounting and tax team can assist you to complete your\u00a0annual accounting, tax obligations and annual compliance requirements.<\/p>\n<\/section>\n<section>\n<section>\n<section>\n<section><strong>Salaries Tax return filling<\/strong><img decoding=\"async\" class=\"alignnone size-full wp-image-5230\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/3.jpg\" alt=\"\" width=\"760\" height=\"308\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/3.jpg 760w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/3-300x122.jpg 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/3-16x6.jpg 16w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/3-80x32.jpg 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/3-620x251.jpg 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/3-460x186.jpg 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/3-365x148.jpg 365w\" sizes=\"(max-width: 760px) 100vw, 760px\" loading=\"lazy\" \/><strong>Employer&#8217;s Return of remuneration and Pensions<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5231\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/4.jpg\" alt=\"\" width=\"752\" height=\"170\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/4.jpg 752w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/4-300x68.jpg 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/4-16x4.jpg 16w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/4-750x170.jpg 750w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/4-80x18.jpg 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/4-620x140.jpg 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/4-460x104.jpg 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/4-365x83.jpg 365w\" sizes=\"(max-width: 752px) 100vw, 752px\" \/><\/p>\n<section>\n<section>\n<section>\n<section><strong>Why shall HK companies do auditing?<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section><strong>It is required by laws and regulations.<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>According to\u00a0Company Ordinances in Hong Kong, all HK companies shall commission accounting firms to audit their financial statements\u00a0every year.\u00a0<strong>Newly registered HK companies<\/strong>\u00a0will receive their\u00a0first profits tax return\u00a0after\u00a0<strong>18 month<\/strong>s of establishment, with a\u00a0<strong>tax return period of\u00a0three months<\/strong>.<strong>Within\u00a07 years<\/strong>, Inland Revenue Department has right to check HK companies&#8217; accounts through their bank accounts&#8217; information, customs records and so on.<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section><strong>It promotes HK companies&#8217; development.<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section><strong>Maintaining\u00a0good audit records and tax records<\/strong>\u00a0every year is\u00a0<strong>conducive<\/strong>\u00a0to demonstrating the strength and credibility of HK companies. Through auditing, HK companies can clearly understand their\u00a0profit and loss, and know the\u00a0companies&#8217; assets\u00a0and\u00a0liabilities\u00a0through the balance sheet.The audit reports will help HK companies timely adjust the trade structure, improve the companies&#8217; management abilities, and promote the sustainable development of the HK companies.<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section><strong>It helps maintain HK bank accounts.<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>The audit report\u00a0is an important document for maintaining a HK company&#8217; bank account better.\u00a0As the risk control systems in the banking sector are strengthening, more and more banks send emails or letters to the owners of HK companies to ask for their audit reports, so as to\u00a0understand the operation of their HK companies.\u00a0If HK companies do not submit their audit reports\u00a0in time, their\u00a0HK bank\u00a0accounts\u00a0<strong>have the risk of being closed<\/strong>.<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>\n<section>Attention<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>Doing auditing is also\u00a0<strong>necessary<\/strong> for\u00a0bank loan. If a business owner wants to use a HK company to borrow money in China or other countries, the lenders will generally require\u00a0two to three consecutive years\u00a0of\u00a0audit reports and tax records\u00a0of the HK company.<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section><strong>It becomes more strict\u00a0under the effect of CRS.<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>With\u00a0the implementation of CRS, more and more overseas financial account information and overseas income have been exchanged, which means that the scrutiny of HK companies&#8217; audit will be\u00a0stricter. The implementation of CRS is\u00a0<strong>beneficial to\u00a0combating\u00a0tax evasion and avoidance,<\/strong>\u00a0and it makes\u00a0individuals&#8217; offshore accounts more transparent. Under this circumstance,\u00a0business owners need to\u00a0timely report the account information\u00a0of their HK companies\u00a0and\u00a0complete their audit reports\u00a0every year.<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>\n<section><strong>Attention<\/strong><\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>If the HK company invests and establishes\u00a0other companies (Guangzhou companies) or branches and subsidiaries, the HK company shall provide\u00a0the audit reports of these relevant companies.<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section>\n<section>\n<section>\n<section><strong>Consequences of not doing auditing<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section><strong>HK companies will be fined.<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>\n<section>If HK companies\u00a0fail to submit\u00a0profit tax return\u00a0within the time limit or\u00a0conceal the true tax payable,\u00a0Inland Revenue Department can\u00a0impose a maximum penalty of three times the amount of tax payable.\u00a0If the circumstances are very serious,<strong>\u00a0criminal\u00a0responsibility<\/strong>\u00a0of\u00a0HK companies\u00a0shall be\u00a0investigated\u00a0in accordance with the law.<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section><\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section><strong>A CASE<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>A HK company\u00a0didn&#8217;t file the tax return by the due date\u00a0and it received a\u00a0penalty letter\u00a0from Inland Revenue Department.<img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5232\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/6.jpg\" alt=\"\" width=\"832\" height=\"767\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/6.jpg 832w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/6-300x277.jpg 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/6-768x708.jpg 768w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/6-13x12.jpg 13w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/6-80x74.jpg 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/6-620x572.jpg 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/6-460x424.jpg 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/6-365x336.jpg 365w\" sizes=\"(max-width: 832px) 100vw, 832px\" \/><\/p>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section><strong>HK bank accounts will be closed.<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section>\u00a0<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>If HK bank accounts are shutdown due to\u00a0the audit problems, it will not only affect the\u00a0cash flow\u00a0of HK companies, but also\u00a0bring troubles to the directors and shareholders. What&#8217;s worse, the HK bank accounts even have risks of\u00a0being\u00a0<strong>blacklisted\u00a0<\/strong>by the banking systems, which makes HK companies\u00a0harder to open new accounts\u00a0in the future.<\/section>\n<\/section>\n<section><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section>\u00a0<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>Doing auditing\u00a0in time is significant to HK companies, and\u00a0audit reports\u00a0are also important documents which will support\u00a0HK companies&#8217; international bidding, financing and their public listings. As\u00a0the HK company audit peak is coming soon! HK companies should<strong> prepare for the audit in advance!<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>Elite Stage\u00a0has always been committed to providing customers with\u00a0comprehensive and reliable financial planning, in-depth understanding of the customer&#8217;s operating model to provide the most\u00a0appropriate method,\u00a0helping customers\u00a0complete\u00a0the accounting and auditing of HK companies\u00a0successfully, and enabling\u00a0customers to\u00a0operate legally in Hong Kong.<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>","protected":false},"excerpt":{"rendered":"<p class=\"tx-excerpt\">HONG KONG Every year, Hong Kong Companies shall complete the profit tax return and submit it to Inland Revenue Department, and usually it&#8217;s a coming peak for accounting and audit. Profit Tax Returns Fillings Annual...<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-5227","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Get Ready! 2022 HK Company Audit Peak is coming! - elitestage.cn<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.elitestage.cn\/fr\/get-ready-2022-hk-company-audit-peak-is-coming\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Get Ready! 2022 HK Company Audit Peak is coming! - elitestage.cn\" \/>\n<meta property=\"og:description\" content=\"HONG KONG Every year, Hong Kong Companies shall complete the profit tax return and submit it to Inland Revenue Department, and usually it&#8217;s a coming peak for accounting and audit. Profit Tax Returns Fillings Annual corporate income tax returns\u00a0must befined\u00a0with Inland Revenue Department on\u00a01 April every year. 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2022 HK Company Audit Peak is coming! - elitestage.cn","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.elitestage.cn\/fr\/get-ready-2022-hk-company-audit-peak-is-coming\/","og_locale":"fr_FR","og_type":"article","og_title":"Get Ready! 2022 HK Company Audit Peak is coming! - elitestage.cn","og_description":"HONG KONG Every year, Hong Kong Companies shall complete the profit tax return and submit it to Inland Revenue Department, and usually it&#8217;s a coming peak for accounting and audit. Profit Tax Returns Fillings Annual corporate income tax returns\u00a0must befined\u00a0with Inland Revenue Department on\u00a01 April every year. There&#8217;s a risk of penalties id the deadline [&hellip;]","og_url":"https:\/\/www.elitestage.cn\/fr\/get-ready-2022-hk-company-audit-peak-is-coming\/","og_site_name":"elitestage.cn","article_published_time":"2022-02-08T10:43:57+00:00","article_modified_time":"2023-03-29T11:18:30+00:00","og_image":[{"url":"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1.jpg","type":"","width":"","height":""}],"author":"elitestage","twitter_card":"summary_large_image","twitter_misc":{"\u00c9crit par":"elitestage","Dur\u00e9e de lecture estim\u00e9e":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.elitestage.cn\/ja\/get-ready-2022-hk-company-audit-peak-is-coming\/#article","isPartOf":{"@id":"https:\/\/www.elitestage.cn\/ja\/get-ready-2022-hk-company-audit-peak-is-coming\/"},"author":{"name":"elitestage","@id":"https:\/\/www.elitestage.cn\/#\/schema\/person\/31203aff8c38b824ba6cad22b0ec9528"},"headline":"Get Ready! 2022 HK Company Audit Peak is coming!","datePublished":"2022-02-08T10:43:57+00:00","dateModified":"2023-03-29T11:18:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.elitestage.cn\/ja\/get-ready-2022-hk-company-audit-peak-is-coming\/"},"wordCount":803,"commentCount":0,"image":{"@id":"https:\/\/www.elitestage.cn\/ja\/get-ready-2022-hk-company-audit-peak-is-coming\/#primaryimage"},"thumbnailUrl":"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/02\/1.jpg","articleSection":["News"],"inLanguage":"fr-FR","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.elitestage.cn\/ja\/get-ready-2022-hk-company-audit-peak-is-coming\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.elitestage.cn\/ja\/get-ready-2022-hk-company-audit-peak-is-coming\/","url":"https:\/\/www.elitestage.cn\/ja\/get-ready-2022-hk-company-audit-peak-is-coming\/","name":"Get Ready! 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