Tax
How profits tax is calculated, what is deductible, how an offshore claim is substantiated, filing deadlines and extensions. The regime is simple; the detail decides what you pay.
3 articles
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A New Company's First Tax Return: When It Arrives, What to Prepare, How the Deadline Works
A new company usually receives its first profits tax return about 18 months after incorporation, and the first filing period is longer than later ones. The timeline, why the first accounting period can exceed 12 months, what to prepare, and the one decision that most affects the cost.
About 6 min read
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Hong Kong Profits Tax: Rates, Basis Periods, Filing, and Three Common Misconceptions
Hong Kong taxes only profits sourced here, and the first HK$2 million is taxed at 8.25% for a company. The rates, how the basis period maps to the year of assessment, the filing process and deadlines, what is deductible, and the three things people most often get wrong.
About 6 min read
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The Two-Tiered Profits Tax Rates: Who Qualifies, and Why Connected Entities Get Only One
The first HK$2 million of assessable profits is taxed at half rate — worth up to HK$165,000 a year to a company. The rates, who qualifies, the connected-entity restriction, how to nominate, and why splitting companies to claim it twice does not work.
About 6 min read
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