| Annual trunover / expenses | Below $500,000 | $500,000 to $999,999 | $1,000,000 to $1,999,999 | $2,000,000 to $3,499,999 | $3,500,000 to $6,999,999 | $7,000,000 to $10,000,000 |
| Below $500,000 | $5,000 | $8,000 | $10,000 | $13,000 | $15,000 | $17,000 |
| $500,000 to $999,999 | $5,500 | $8,500 | $10,500 | $13,500 | $15,500 | $17,500 |
| $1,000,000 to $1,999,999 | $6,000 | $9,000 | $11,000 | $14,000 | $16,000 | $18,000 |
| $2,000,000 to $3,499,999 | $6,500 | $9,500 | $11,500 | $14,500 | $16,500 | $18,500 |
| $3,500,000 to $6,999,999 | $7,000 | $10,500 | $12,000 | $15,000 | $17,000 | $19,000 |
| $7,000,000 to $10,000,000 | $7,500 | $11,0,00 | $12,500 | $15,500 | $17,500 | $19,500 |
The above charges are for reference only. If above HK$10 million, the tax return for individuals starts from HK$1,000
Please contact us by phone or email.
The above prices are for the general price range only. The final quotation will be adjusted according to your actual situation and complexity.
The quotation and payment advice of Bruin Consultancy Limited shall prevail.
Tax advisory Services
Tax advisory Services
The Inland Revenue Department (IRD) issues tax returns to limited companies, sole proprietorships, partnerships, individuals and property owners every year. The tax returns must be completed and returned to irD together with the relevant particulars and documents within 1 to 3 months from the date of issue.
Limited Company Profits Tax
Profits derived from Hong Kong by using Hong Kong company to operate any business or service shall be subject to tax. Conversely, profits derived from overseas sources are not taxable in Hong Kong and are not taxable even if repatriated to Hong Kong. Profits or losses incurred from the sale of capital assets are not taxable.
The Inland Revenue Department requires profitable Hong Kong companies to file annual tax returns together with financial statements audited by certified public accountants of the Hong Kong Institute of Accountants. For the temporary profitability of the company, also required to submit an annual audited accounting report, but the time is not as strict as profitable companies, will be given a certain period of grace. A zero return can be filed if there is no operating company. Once a company is in business, it is required to do books and audits to file taxes. The Inland Revenue Ordinance provides that Hong Kong companies can apply for exemption from profits tax on overseas income.
Profits tax rate
The profits tax rate for sole proprietorship or partnership is 15%
Limited company profits tax rate is 8.25% on assessable profits up to $2,000,000; and 16.5% on any part of assessable profits over $2,000,000.
Per 2023-24 Budget, 100% of the 2022/23 profits tax is waived subject to a ceiling of $6,000 per case.
Declare dutiable goods time
Filing profits tax for the first time
The first profits tax return of the Hong Kong Limited will be issued 18 months after the establishment of the company. It needs to be filed within one month according to the tax form. However, a subsequent notice will tell the company that it is automatically eligible for an extension of two months, meaning that the company will have to file its first profits tax claim within three months.
File profits tax again
For a normally functioning company, the next profits tax return is usually received within one week of April 1 of the year following the initial profits tax filing. For unprofitable companies, within one week after April 1 of the second or third year after the initial return of profits tax.
Time limit for reclaiming profits tax
Upon receipt of the tax form from the Tax bureau, if the company continues or goes out of business, it is required to submit the zero return for profits tax within 1 month. If the company is in business, it needs to apply to the tax bureau for an extension according to whether the company is profitable. The specific grace period for the latest submission of the tax form is roughly as follows
「Consultant and Audit service of “Special Fund for Brand Development, Upgrading and Transformation and Expanding Domestic Market” (BUD)
Bruin Consultant team will assist SMEs to apply for the Hong Kong government’s special fund for brand development, upgrading, transformation and domestic sales and provide audit services.
Information Technology Support Consultancy Services（TVP）
Bruin consultancy team will assist SMEs in applying for IT support services. We believe that appropriate IT can have a significant impact on their operations. Because we provide cloud server Settings, Intranet Settings, phone system Settings and other services. There is also an IT support service to provide no back-up services upon your request.
The Government has further enhanced the TVP with effect from 1 April 2020 to further assist enterprises to use technology to improve their business operations and enhance their competitiveness. The maximum subsidy for each applicant under the Technology Coupon has been increased from $400,000 to $600,000, the subsidy ratio has been raised from two-thirds to three-quarters, and the eligibility criteria have also been relaxed to include companies incorporated in Hong Kong under the Companies Ordinance and statutory bodies incorporated in Hong Kong (except government-funded bodies and their subsidiaries). A range of other enhancements have also been introduced. (Note: The maximum grant for applications submitted before the above measures is $400,000. Applicants who wish to increase their application to $600,000 should withdraw their original application through the Technology Coupon Scheme Management System (https://tvp.itf.gov.hk) and submit a new application.)
