What is a “Director’s Certificate of Authority”? What does it do?

Company operations need to ensure the complete filing of important documents, among which the “Certificate of Authority for Directors” is one of the indispensable documents. The “Certificate of Authority for Directors” lists the information of all members involved in the operation and financing of the company to prove and record their duties. In addition to … Read more

Which businesses require licenses and permits to operate?

Completing the company registration process does not mean that you can start business immediately because to legally operate certain businesses in Hong Kong, you need to apply for the necessary business licenses and permits related to a certain business from different government departments before you can officially operate the business. The general process takes about … Read more

How the Inland Revenue Department begins an investigation case – How to investigate a tax avoidance case

After the tax bureau has opened the taxpayer’s file, to understand his business operations and personal asset affairs, whether it is an on-site audit or an in-depth investigation, the tax bureau staff will send a letter to invite the taxpayer to make an appointment for the first meeting. At that time, taxpayers will need to … Read more

Investigation Team – Bank Deposit Analysis Method

In the process of auditing/investigating accounts, it is often the taxpayer who lacks complete accounting records. Nevertheless, to satisfy as far as possible, the staff of the Inland Revenue Department that their accounting records are correct and reliable, a taxpayer should appoint a tax representative to conduct a detailed analysis of the taxpayer’s deposit/current and … Read more

The business registration levy has been reduced to HK$150. What is the total fee for applying and renewing a business registration certificate this year?

According to the Business Registration Ordinance, business registration is required for any form of business. In recent years, in view of the financial situation of Hong Kong, upon the suggestion of the Financial Secretary, the business registration fee has been waived by HK$2,000 until March 31, 2023. The Business Registration Ordinance (Amendment to Schedule 2) … Read more

Section 88 of the Inland Revenue Ordinance, tax-exempt status for charities? Is running a “business” exempt from profits tax?

Charities in Hong Kong have attracted the attention of the public. Since the establishment of relevant organizations has made a lot of contributions to the society, the Government has been providing various support to accredited charities, including Section 88 of the Inland Revenue Ordinance. What is the content? How can taxpayers find accredited charities? This … Read more

Claiming Allowance – Please report truthfully (deceased dependent parents/grandparents/grandparents and disabled dependents)

There have been several cases in recent years of taxpayers jailed for falsely claiming the dependent parent allowance. One was a taxpayer claiming a tax-free allowance for his deceased father, which resulted in a four-month jail term, suspended for 18 months and a fine. It is mentioned here that if a taxpayer or his/her spouse … Read more

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