Brilliant Business Centre (BBC) | Serviced Office | Virtual Office | Company Incorporation | me Self-Service Platform | Hong Kong

Hong Kong Accounting & Bookkeeping | Taxation Service | Share transfer

Brilliant Business Centre (BBC) | Serviced Office | Virtual Office | Company Incorporation | me Self-Service Platform | Hong Kong
HomeAccounting and Taxation
BBC Accounting & Taxation Service
Flexible, Trust-worthy,
Transparent Fee Schedule
No hidden costs
Enjoy ease of mind by leaving your accounting needs with BBC! Our in-house accounting team offers professional and customized service in accounting, auditing and taxation to alleviate our client’s stress and effectively meet compliance. Your accounting needs are well taken care of under one roof as if you have your own accounting team.

NO hidden costs! BBC’s transparent fee schedule allows you to plan your budget and get more than you have expected! Our Accounting & Taxation plans have included auditing service.
Why BBC?
In-house accounting team
In-house accounting team
Your accounting needs are streamlined and handled under one roof with higher efficiency and flexibility.
Extensive knowledge and experience
Extensive knowledge and experience
Years of servicing clients in different industries has enriched our accounting team’s technical proficiency and enabled the accumulation of in-depth knowledge for a customized strategy to fit your accounting and taxation requirement.
Customized service
Customized service
We tailor solutions that best suit our client’s needs, including but not limited to application for holding over of tax returns, filing of objection to tax returns, application for extension of filing of individual and profit tax returns.
Accounting, Taxation and Auditing Service
HK$6,800
(Auditing service included)
Inquire on our Accounting and Taxation Service Plans
BBC’s Accounting & Taxation Service Plans
Service Area
Bookkeeping & Accounting
Bookkeeping could mean a great deal of trivial and time-consuming work for a startup or many small- to medium-sized companies, BBC accounting team can take the stress off you. Leave it in the hands of our experienced team and enjoy peace of mind and focus on exploring more opportunities and growth of your business!

Service areas include:
  • Preparing books of accounts on monthly basis
  • Preparing books of accounts on annual basis
  • Preparing financial statements including balance sheet and income statement
  • General ledger accounts entry by category – cash books, bank books, accounts receivable and accounts payable
  • Organization and filing of receipts, computerize bookkeeping
Taxation Service
Consult BBC accounting team and find out the best solution for your company and yourself in taxation filing and representation. Our customized service best tailor the needs of individuals, unlimited companies and limited companies.

Service Area:
  • Filing of profit tax return
  • Filing of profit tax computation of the year and supplementary forms
  • Filing of employer’s return of remuneration and pensions of the year
  • Application of tax filing extension
Other Services
  • Transfer of shares
  • Deregistration of unlimited companies
  • Deregistration of limited companies
BBC Fees
BBC is committed to a transparent pricing system with NO hidden costs.
Accounting and Auditing service
Plan covers the following services
  • No. of transactions: within 100
  • Total sales turnover: within HKD500,000
  • Preparation of financial statements including Profit & Loss account, balance sheet, trial balance and general ledgers
  • Arrangement of auditing service with a practicing CPA and quotation of the costs involved
  • Preparation of audited financial statements
  • Profit tax computation
  • Application for extension of profit tax return Included in Auditing service
  • Completion and filing of Profit Tax return of the year
  • Printing and delivery cost of the required documents to Inland Revenue Department (not included courier cost of documents between you and BBC)
Total HK$6,800
*Expedited service fee will be charged on demand
Taxation Service
Plan covers the following
service fee (HKD)
Filing of Profit Tax Return of the year on your behalf
Dormant company
HKD1,000
Company with business transactions
Included in Auditing service
Filing of Employer’s return of remuneration and pensions of the year
Director(s) and employees with no salary
HKD800
Director(s) and / or employees receiving a salary
HKD500 / person
Share transfer
HKD1,800
Deregistration of unlimited company
HKD300
Deregistration of limited company
HKD3,800
Accounting, Taxation and Auditing Service
HK$6,800
(Auditing service included)
Inquire on our Accounting and Taxation Service Plans
BBC’s Accounting & Taxation Service Plans
FAQ
About taxation
  • 1. How long from its incorporation does a limited company have to file profit tax return?
    All companies will receive their first Profit Tax Return from the Inland Revenue Department 18 months from their incorporation date, then in every April in the subsequent years.
  • 2. Does BBC’s Accounting and Auditing service include the completion and filing of the Profit Tax Return?
    Yes. BBC’s Accounting and Auditing service has included the completion and filing of the Profit Tax Return for you.
  • 3. Is it mandatory for a business to prepare audited financial statements and reports every year?
    The new Companies Ordinance (Cap. 622 Part 9 Accounts and Audit) makes it a requirement for all companies, except dormant companies (session 447), to prepare and file audited financial statements and reports for each financial year. Details can be referred to in the following link:
    https://www.cr.gov.hk/tc/companies_ordinance/docs/NewCO_C622_HL_Part9-c.pdf
  • 4. Do you have to file the Profit Tax Return even when the company has not commenced business?
    Yes. You have to complete and file the Profit Tax Return with the Inland Revenue Department after receiving it, even when your company might still have not commenced business.
  • 5. After filing the Profit Tax Return for the first time, does it mean we do not have to keep our accounting books and prepare audited financial statements if we receive a notice from the Inland Revenue Department that forthcoming tax return form will not be issued every year in the short term?
    Even so it is every company’s responsibility to maintain their accounting books. In case there is any profit generating within an assessment year, the company has to request the Inland Revenue Department to issue the profit tax return form and complete the filing accordingly.
  • 6. What is the tax rate for Profit Tax? How to compute Profit Tax?
    A flat rate of 16.5% for corporations and 15% for unincorporated businesses for assessment years 2008/09 onwards (Note)

    Two-tiered rates (suitable for year of assessment of 2018/2019 onwards) For corporations, 8.25% on assessable profits up to $2,000,000; and 16.5% on any part of assessable profits over $2,000,000 For unincorporated business: 7.5% on assessable profits up to $2,000,000; and 15% on any part of assessable profits over $2,000,000

    自2018/19年度起, 在利得稅兩級制下,法團及非法團業務(主要是合夥及獨資經營業務)首二百萬元應評稅利潤的利得稅率將分別降至8.25%(稅務條例附表8所指明稅率的一半)及7.5%(標準稅率的一半)。法團及非法團業務其後超過二百萬元的應評稅利潤則分別繼續按16.5%及標準稅率15%徵稅。
  • 7. Is it a must to pay Profit Tax?
    There is not necessarily tax payable every year, but it is the responsibility of every limited company to file profit tax return. The amount of tax payable is then computed.
  • 8. What is Provisional Tax for individuals?
    Provisional tax is an advance payment of next year’s income tax which is estimated on an individual’s taxable income of the current tax year.
  • 9. How do I apply for extension for lodgment of tax returns?
    Clients can get representation by an authorized representative to apply for an extension to file your 2019/20 profits tax return under the Block Extension Scheme, the due date is normally extended as follows:

    Accounting Date Extended Due Date
    For N Code Returns (Accounting Date between 1 April to 30 November) One month from issue date of tax demand note
    For D Code Returns (Accounting Date between 1 to 31 December) Mid August
    For M Code Returns (Accounting Date between 1 January to 31 March) Mid November
  • 10. What should I do when I receive a penalty imposed by the Inland Revenue Department?
    If it is regarding the late filing of a tax return form, client should complete the filing and pay the fine within the specified date to avoid being prosecuted by the Inland Revenue Department. Fail to do so is an offence and is subject to a fine of $10,000 and a further fine of treable the amount of the tax undercharged.
  • 11. What should I do when I receive a court summons?
    Individuals receiving a court summons is recommended to attend the hearing at the court mentioned on the specified date for defend and follow the proceedings accordingly.

    You may contact BBC for consultation or representation. For details please check with our customer service.

    You may also contact BBC for accounting and auditing service as to file the required tax return. For details please check with our customer service.
  • 12. Our company only has bank accounts with foreign banks in China and not in Hong Kong, does it mean we do not have to file tax returns to the Hong Kong government?
    No. According to the laws of Hong Kong, companies incorporated in Hong Kong must file tax returns with the Inland Revenue Department, regardless of the place the business is conducted. If the source of income is not Hong Kong, one can apply with the Inland Revenue Department for exemption of corporation tax for offshore income.
  • 13. How do I apply for tax exemption on offshore income?
    Hong Kong adopts a territorial source principle of taxation. Only profits which have a source in Hong Kong are taxable here. Profits sourced elsewhere are not subject to Hong Kong Profits Tax. The principle itself is very clear but its application in particular cases can be, sometimes, contentious. Company trying to claim offshore income tax exemption should submit the claim with supporting documents when they file their Profit tax return and audit report to the Inland Revenue Department. You may refer to the IRD link below for more information

    詳情可參考稅務局指引:
    https://www.ird.gov.hk/chi/paf/bus_pft_tsp.htm?_referer=www.asiabs.com
About individual tax return
  • 14. What is the tax rate of salary tax? How to compute the amount of tax payable?
    Your net chargeable income, i.e. assessable income after deductions and allowances, is charged at progressive rates. But if what you need to pay on the basis of your net chargeable income exceeds the tax charged at standard rate on your net total income, i.e. assessable income after deductions but before allowances, then you have to pay the lower amount of tax.
    Assessment year refers to April 1 to March 31 of the following year. Tax payable is computed on the net chargeable income an individual from April 1 of the previous year up to March 31 of the current year. You may refer to the following link for more information on the tax rates and computation of salaries tax:
    https://www.ird.gov.hk/chi/pdf/pam61c.pdf
  • 15. When is the deadline for filing a salary tax return? What is the penalty if the deadline is not met?
    You will have to file the salary tax return within a month from its issue date. If you fail to do so, the Inland Revenue Department may compute and issue your tax demand note based on an estimated net chargeable income and you may end up paying a higher amount of salary tax. You might also be prosecuted or fined for the delay in filing tax return.
About Accounting & Auditing
  • 16. What is the cost for arranging Accounting and Auditing on our behalf?
    BBC will quote based on the number of business transactions and total sales turnover of the fiscal year. Our price will include service in the following areas:
    • Preparation of financial statements including Profit & Loss account, balance sheet, trial balance and general ledgers
    • Arrangement of auditing of the account books with a practicing CPA
    • Preparation of audited financial statements
    • Computation of profit tax
    • Completion and filing of Profit Tax Return
    • Printing and delivery cost of the required documents to Inland Revenue Department (not included courier cost of documents between you and BBC)
    Express service can be provided at a premium.
  • 17. In general, how long does the auditing process take?
    It generally takes about 3-4 months from confirmation of the service request. However, the exact time might differ depending on the comprehensiveness & completeness of information and documents provided and the responsiveness and time taken for documents confirmation and sign back.
  • 18. How fast is express service?
    Express service speeds the procedures up to around 4-6 weeks (including preparation and completion of the final audited financial statements). Still the exact time would be affected by comprehensiveness & completeness of information and documents provided and the responsiveness and time taken for documents confirmation and sign back.
  • 19. What documents and information do I have to provide for the Accounting and Auditing services?
    Clients have to provide bank statements, sales invoice, purchase order, invoices on general expenses, inventory list, fixed assets, tenancy agreements, investments etc.
  • 20. What kind of expenses are deductible?
    《稅務條例》第 16(1)條規定,在確定任何課稅年度的應課稅利潤時,為產生該應課稅利潤而招致的一切支出和開支,均須予以扣除。
    另外可參考保存業務紀錄須知:
    https://www.ird.gov.hk/chi/pdf/c_51c_pam.pdf
Tax obligation as an employer
  • 21. When will an employer receive Employer’s return of remuneration and pension from the Inland Revenue Department?
    Every company will receive The Employer’s Return of remuneration and pension from the Inland Revenue Department in every April. It has to be completed and filed to the IRD within a month of its issuing date, even you have not hired any employees during the year. Offenders may be prosecuted and fined. Refer to the following link for more information.
    https://www.ird.gov.hk/chi/pol/ppo.htm
  • 22. How is an assessment year defined for an individual’s income tax computation?
    A year of assessment runs from April 1 in the current year to March 31 of the following year. The form IR56B should be filed based on this time frame.
  • 23.What is the price for the completion and filing of Employer’s Return of remuneration and pensions on our behalf?
    BBC charges HKD500 / filing for every director or employee per assessment year, if your company has paid directors or employees. You will have to provide income proof of the individuals involved in these filing. If there is no employee, or the director does not receive an income, BBC’s service fee is HKD800 / filing per assessment year.
Regarding Share Transfer
  • 24. Why do we have to audit the account books before share transfer?
    Stamp duty is calculated based on the company’s net chargeable asset, which is best reflected by financial statements recently audited. Internal financial statements within the last 3 months can also be used if audited financial statements are not available.
  • 25. How is the stamp duty for share transfer computed?
    At share transfer, each party is to pay stamp duty based on 0.1% of the amount of consideration, or the net assets of the subject company subjected to be transferred, plus HKD5 for each transfer.

    e.g. A is to transfer 10,000 ordinary share of company X to B. The quantity of which equals to 50% of rights in the company. Company X is worth $1 million at the time of transfer. Computation of stamp duty for the subject share transfer is as follows:
    ($1m x 50%) x 0.1% x 2 + $5 = $1,005
    A should pay stamp duty of $502.5
    B should pay stamp duty of %502.5
  • 26. What other information do I have to submit for share transfer and stamp duty calculation?
    You have to provide the following documents:
    1. Latest audited financial statements. If you do not have them available, you can provide the latest internal financial statements. In the case of holding companies, you have to submit a consolidated financial statement.
    2. Memorandum of Association of the company
    3. Certificate of Incorporation
    4. A copy of the transferee’s Identity Card and address proof
    5. Quantity of shares to be transferred and the corresponding considerations.
    6. Agreement of share transfer (if any)
About Company Deregistration
  • 27. What does dissolving / deregistering a company involve and how long does it take?
    The company must meet the following conditions before making an application for deregistration:
    • all the members of the company agree to the deregistration;
    • the company has not commenced operation or business, or has not been in operation or carried on business during the 3 months immediately before the application;
    • the company has no outstanding liabilities;
    • the company is not a party to any legal proceedings;
    • the company’s assets do not consist of any immovable property situate in Hong Kong;
    • if the company is a holding company, none of its subsidiary's assets consist of any immovable property situate in Hong Kong; and
    • the company has obtained a "Notice of No Objection to a Company being Deregistered" ("Notice of No Objection") from the Commissioner of Inland Revenue.

    It takes around 6-9 months to deregister a company that has not commenced business, and about 9-12 months for companies that have commenced business. Companies that have commenced business would have to provide the last audited financial statements for the process involved. The time taken might differ depending on the completeness of the required documents provided.
Contact BBC's Accounting Team
Live Chat
1. New customers
2. Existing costomers
CWBFeel free to chat with us online!
SWFeel free to chat with us online!
KTFeel free to chat with us online!
TSTFeel free to chat with us online!
MKFeel free to chat with us online!
Live Chat
 
Accounting and Taxation Enquiry
Close

We use Cookies to enable essential services and functionality on our website and to collect data on how visitors interact with our site, products and services. Please read Privacy Policy & Cookie Policy for details. By clicking Accept, you agree to our use of these tools for advertising, analytics and support.

Accept