Under the laws of Hong Kong, an incorporated Hong Kong company is required to conduct annual return on the anniversary date of incorporation of the company with both the Hong Kong Companies Registry (company registration authority) and Inland Revenue Department (tax authority).in order to maintain the status of legally operated.

 

(1)Filing of Annual Return with Companies Registry

 

A private limited company set up in Hong kong is required to file an Annual Return signed by a director, company secretary, manager or authorized representative with the Companies Registry. However, a private company which is deemed to be a dormant company (i.e. a company that has no relevant accounting transactions during a financial year) under the Companies Ordinance is exempt from filing annual returns.

 

The Annual Return must be filed once in every calendar year (except in the year of its

 

incorporation)within 42 days of the anniversary of the company’s incorporation date.Even though there is not any information contained in the last return has changed, the annual return is still a must.

 

Coverage of Annual Return for Hong Kong Company:

(A) Delivery of annual return to government on behalf of Clients;
(B) Renewal of the business registration certificate (BR);
(C) Reappointment of authorized company secretary
(D) Renewal of the registered office address

 

Consequences of Non-filing or Filing Late for Hong Kong Company:

 

Delivery date of annual return	Fines (HKD$)
More than 42 days but within 3 months after the anniversary of incorporation	870
More than 3 months but within 6 months after the anniversary of incorporation	1,740
More than 6 months but within 9 months after the anniversary of incorporation	2,610
More than 9 months after the anniversary of incorporation	3,480

 

 

 

 

 

 

 

 

 

 

(2)Filing of Annual Tax Return with Inland Revenue Department (tax authority)

 

As per Hong Kong company law, every company formed in Hong Kong, must file a Tax Teturn (in Hong Kong it’s called Profits Tax Return) along with its audited accounts on an annual basis with the Inland Revenue Department of Hong Kong.

 

Inland Revenue Department issues Tax Return filing notifications to companies on the 1st of April every year. For the newly incorporated companies, the notification is generally sent on the 18th month of the incorporation date. Companies must file their Tax Return within one month from the date of notification. If a company choose to have its accounting year ended on 31 March, it is required to have its financial statements audited and the profits tax return filed with the Inland Revenue Department (Hong Kong Tax Authority) on or before 15 November the same year.

 

Late filing of Profits Tax Return will initially result in a fine of HKD1,200 and further delay may result in court proceeding and extra fines.

 

When filing the Tax Return, the following supporitng documents must also be attached:

 

(A).A certified copy of the company’s balance sheet, auditor’s report and Profit & Loss Account relating to the basis period

(B).A tax computation indicating how the amount of assessable of profits (or adjusted losses) has been arrived at

(c).The prescribed ‘Supplementary Form’ which contains most particulars like tax data and financial data etc.

 

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