Will Hong Kong taxpayers face double taxation problems?

Hong Kong’s tax incentives are well-known both at home and abroad, providing a favorable business environment for many business operators. However, do companies still need to pay attention to whether there is a double taxation problem? In fact, the Hong Kong government has always had policies to help Hong Kong taxpayers avoid double taxation. What … Read more

What are Hong Kong Accounting Standards? What does the specific scope include?

Business entities registered in Hong Kong are required to prepare audited financial statements on an annual basis and ensure that the financial statements are processed in accordance with Hong Kong Accounting Standards or Hong Kong Financial Reporting Standards. The introduction and general principles of these standards will be told to you in this article. Hong … Read more

How to exempt from HKFRS reporting? Which companies are eligible for the exemption?

Some companies are exempt from reporting certain information under HKFRS, including a “true and fair view” provided by the financial statements. In fact, this is the “Financial Reporting Framework and Financial Reporting Standards for Small and Medium-sized Enterprises” launched in 2014. The relevant standards have been simplified to make it easier for small and medium-sized … Read more

[Tax Filing 2022] Found omissions, misreported tax returns? How do I submit an amendment to the tax office?

The consequences of taxpayers omitting tax returns and misreporting tax returns can be very serious. Although it is only a mistake, the public has the absolute responsibility to fill in the tax returns correctly in accordance with the Inland Revenue Ordinance. How do I file an amendment to the tax return to the Inland Revenue … Read more

Three major digital funding from the government: Technology Voucher Programme (TVP), The SME Export Marketing Fund (EMF), and Dedicated Fund on Branding, Upgrading, and Domestic Sales (BUD Fund)

Facing the rapidly changing business environment in 2021 and the impetus of the new crown epidemic, the network transformation of SMEs is a major trend. The traditional concept may think that expanding manpower is more efficient than upgrading equipment, and the cost of digital transformation solutions is not affordable for SMEs, which has slowed down … Read more

What is the difference between bookkeepers, accountants, financial controllers (Controllers) and chief financial officers (CFO)?

To manage the financial operations of a business, the roles of bookkeepers, accountants, financial controllers (Controllers), and chief financial officer (CFO) complement each other, and in addition to assisting with the day-to-day affairs of the company, financial reporting and strategic consulting may also be required. Obviously, their goals are the same, dealing with bookkeeping and … Read more

6 Common “Tax” Questions Answered for Office worker!

Facing tax problems? Friends who have just entered the workplace are most confused when they file their taxes in May when this “green bomb” come?  Don’t know what to do when filing a tax return(also known as tax declaration form)? What are the serious consequences of underreporting information? To summarize the frequently asked questions about … Read more

6 common tax deduction items that help your tax allowance!

Taxpayers will want to know more about the tax allowances when calculating the salary tax and personal assessment during the tax filing period.  What items and payments can be tax deducted? This article integrates common deductible tax payments for taxpayers. Self-Education Expenses: Tax Deduction up to $10,000 Salaries tax can apply for tax deduction for … Read more

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