Consequences for not making audit
Penalty of thousands or 3 times of the payable tax
Blacklisted, sued and accused by Inland Revenue Department and imprisoned
Low personal credit
Activities of financing and loans will be affected in Hong Kong, China mainland and other countries
Bank account will be closed
Lose the opportunity to corporate with international clients and it is rather hard to seek development in business
Required by CRS
Hard in company merger and acquisition and reorganization
Which companies need annual audit?
HACOS audit procedures
- Tax contract
- Company income checking
- Registration details and singing negotiation
- Company statement of bank account
- Company basic information
- Company daily business bills
- Data verification and account management
- Account feedback information
- Make account and avoid tax reasonably
Audit plan making
- Account data adjustment
- Audit information confirmation
- Signature of clients
- Accountants signatures and stamps
- Inland Revenue Department declaration
- Audit reports delivered to clients
HACOS Hong Kong company audit services include
- Make company financial statement
- Caculate profits tax
- Fill different types of tax reports
- Reply mails from Revenue Department
- Arrange professional service team to make audit
- Make personal assets examination report
Questions related to Hong Kong auditing you are eager to know
What if I lost some monthly statements?
We will help apply for the missing monthly statements
How Hong Kong company annual audit be divided?
Generally, the deadline of fiscal year is March 31 and December 31
What do audit reports include?
- Profit statement
- Balance sheet
- Audit tableAudit suggestions from accountants
Under what condition can Hong Kong company make zero declaration?
- Profits do not come from Hong Kong
- Companies without accounts
- Companies with accounts but no actual operation
What is the first time for tax declaration after Hong Kong company registration?
18 months after Hong Kong company registration
Can Hong Kong company apply for delay of declaration?
Dose it mean company need to pay lots of tax for making audit?
There is no tax if the result is loss. But gaining profit does not mean have to pay tax. Accountants will offer suggestions based on company situation.