TAX ADVISORY SERVICES – HONG KONG

Ensure compliance, reduce risk and maximise tax breaks with local support

Tax compliance goes far beyond ticking boxes. An organisation’s reputation and reliability depend upon it. BoardRoom’s Hong Kong tax filing and advisory services set your business up for ongoing success by ensuring compliance with local laws and regulations while taking advantage of tax incentives and benefits.

Expert tax advice for Asia-Pacific businesses

BoardRoom’s highly experienced team is available to help you navigate Hong Kong’s intricate tax rules and regulations. We provide specialist knowledge of regional and cross-border tax laws each year, to help hundreds of businesses across the Asia-Pacific region meet their tax filing and payment obligations.

From large multinational corporations to rapidly expanding SMEs, we provide expert tax advice to ensure businesses stay compliant, pay less tax and achieve financial success.

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Discover our tax filing and advisory services in Hong Kong, across Asia-Pacific, and worldwide

Regardless of your business type or industry, tax compliance is pertinent for every company and individual in Hong Kong. Our dedicated team of experts are ready to help you navigate complex cross-border tax matters with our range of advisory services, and keep you in compliance with tax regulations and filing deadlines. We provide comprehensive tax advisory services, income tax filing services, corporate tax services, and more so you can focus your efforts on growing your business.

The benefits of outsourcing your tax

Outsourcing core business functions such as tax, payroll and accounting saves time and allows your team to focus on company growth. Let us take care of all the relevant tax compliance and international tax issues so your resources can be spent on key business goals and development.

BoardRoom’s tax advisory services can help you:

01

Avoid penalties for non-compliance

Receive specialist advice for local and international compliance across Asia-Pacific regions.

02

Save money and time

Take advantage of tax benefits and incentives while reducing administrative load and staff overheads.

03

Feel secure

Have peace of mind you are meeting deadlines, requirements and tax compliance rules and regulations in Hong Kong.

Our Hong Kong tax services

Staying tax compliant is essential for your business. Failing to meet tax compliance in Hong Kong can have a significant impact on the reputation and future of your business. At BoardRoom, we can help you understand the local landscape with tax compliance experts to advise on Hong Kong laws and regulations.

With more than 50 years’ experience working with businesses of all sizes across numerous industries, BoardRoom is one of Hong Kong’s most trusted tax advisory firms.

Our team offers a full spectrum of tax advisory and compliance services, which means we can provide personalised, comprehensive corporate solutions for businesses operating in Hong Kong and the wider Asia-Pacific region.

01 Income tax compliance and filing

The BoardRoom team is highly skilled in managing personal and income tax filing for Hong Kong businesses. We’ll make sure your company is accurately and consistently meeting regional and international tax compliance requirements.

We can help with:

Meeting statutory tax filing deadlines and payment due dates
Completing, checking and resolving any issues in tax returns
Lodging finalised tax returns with the tax authority
Applying for Hong Kong tax incentives
Tax clearance applications and tax withholding

02 Hong Kong tax advisory services

With expert planning support from BoardRoom, you won’t miss out on any tax breaks and exemptions your company is entitled to. After carefully analysing your business structure, we’ll provide you with personalised tax solutions and industry-leading advice for long-term success.

We can help with:

Tax due diligence examination
Tax guidance for inbound and outbound investments
Analysing business operations and contracts
Tax advisory for group structure and company restructuring

Why choose BoardRoom?

Because we help take your business further, faster, at all stages

Working with a professional tax advisory firm in Hong Kong can help you minimise expenses, reduce risk and boost potential profitability. It will also ensure your business meets compliance obligations in the long term.

BoardRoom has more than 50 years of experience helping businesses succeed, making us one of the most trusted tax advisors in Hong Kong.

Save time and money
Outsourcing your tax means you don’t need to hire trained tax staff and can invest in your core business operations instead.
Ensure cross-border compliance
Due to our comprehensive tax knowledge across the Asia-Pacific region, we can help lower your administrative load while reducing your risk of financial penalties and reputational harm.
Access local expertise
With comprehensive knowledge of Hong Kong’s tax landscape, our tax advisory team can help you claim tax exemptions your business is entitled to.
Increase productivity
With BoardRoom handling your tax, your leaders will have more time and resources to focus on business development and revenue growth.

Get in touch with our tax expert today!

YOUR POINT OF CONTACT

Chester Leong

Managing Director Asia, Tax and Accounting

Frequently Asked Questions (FAQs)

1. What is a company tax return?

A company tax return refers to the annual filing of a company’s profit/loss to the Inland Revenue Department (IRD) of Hong Kong. The company tax return is then used to calculate the amount of corporate tax to be paid, determined by the corporate tax rate which the company falls into based on business profitability. All companies are required to pay taxes to the government as the cost to keep your business running in Hong Kong.

2. What is the corporate tax rate in Hong Kong?

Hong Kong has earned itself a reputation for not only being a gateway into business in China but also an incredibly business-friendly city thanks to its low tax rates. Corporations are only required to pay 8.25% tax on assessable profits up to HK$ 2,000,000, or 16.5% on assessable profits over HK$ 2,000,000.

3. How do I file my company tax return in Hong Kong?

Company tax returns can be either prepared manually or with the help of software. In Hong Kong, businesses have the option of submitting their tax returns electronically or in person. After calculating how much tax your company owes, you must then submit your application to the Inland Revenue Department. For more information, as well as profits tax forms and other supplementary documents, refer to the IRD’s website. Filing your company tax returns can be a complicated and stressful process. BoardRoom can help take this pressure off your businesses’ shoulders and ensure complete compliance through efficient and professional services. Please contact us for assistance on your tax filing matters.

4. What is the role of a tax advisor?

Tax advisors are responsible for providing consultation and guidance to companies when it comes to navigating all tax compliance matters. They will help businesses come up with plans to prepare for tax, find out the minimum amount of tax payable while staying completely compliant, and help prepare for your companies financial future.

5. Is tax compliance important for a business?

Staying tax compliant is of the utmost importance to your business. Not only can it cause significant trouble, time, and effort in the future, you can incur significant financial losses. Any tax not paid in Hong Kong will be deemed to be in default. The Hong Kong government specifies that if the first installment is not paid on time, the second installment will be due immediately. Following this, the Commissioner of Inland Revenue will initiate recovery actions, in which an additional 5% surcharge is added onto the entire balance.

6. How do you ensure a business remains tax compliant?

Staying tax compliant is a matter of keeping your finances organised and having a keen understanding of the tax laws and regulations in Hong Kong. This can be both a time consuming, and stressful task, so many companies prefer to outsource the work to professionals who can ensure zero mistakes are made and that it is done in a timely manner. At BoardRoom, we help countless businesses in all industries and of all sizes stay tax compliant each financial year. Our team will monitor statutory tax filing deadlines, work closely with you to file them properly, prepare and review tax returns and highlight any potential issues before submitting them. We can also act as tax advisors and help with applications for Hong Kong tax incentives.

7. What is the difference between tax planning and tax compliance?

Tax compliance refers to the act of following tax regulations and laws in your country. Any company that does not follow tax compliance steps is at risk of breaking the law, which can be disastrous for the success of your company. Tax planning, on the other hand, refers to the act of analysing your company’s finances in order to ensure that you are tax compliant and that you pay the lowest amount of tax legally possible to maximise profits.

8. What tax credits and incentives are available for Hong Kong companies?

Hong Kong has remained an attractive city for businesses thanks to favourable taxation policies. For example, businesses who turn an annual profit of less than HK$ 2,000,000 will only be required to pay a tax of 8.25%, half the normal HK tax rate. The Inland Revenue Department has released several tax measures in its 2021-22 budget, including reducing profits tax for businesses, waiving business registration fees, and increasing the rate of ad valorem stamp duty. In addition, the IRD has issued policies regarding Double Taxation Relief, which is particularly helpful if your business is related to airline or shipping incomes.

9. What are tax filing services in Hong Kong?

A tax filing service is where you employ the help of a third-party tax filing provider to help you stay up to date and compliant with all your tax matters. Tax filing services from a company like BoardRoom will help you meet all the relevant deadlines on time, understand and calculate how much tax you need to pay and prepare all the necessary documentation for you to approve and sign. Some businesses will even go the extra mile and help you apply for Hong Kong tax incentives that may benefit your company.

10. What are tax advisory services in Hong Kong?

Tax advisory services will help your business by providing consultatory help and guidance when it comes to navigating complex tax matters. Tax advisory services will help you prepare for tax, stay compliant with all the tax regulations in Hong Kong, advise on corporate structure, review business flow and contracts, advising on inbound and outbound investments, and much more.

11. How can BoardRoom help in taxation services?

BoardRoom can help with a range of tax services, including income tax compliance, cross-border tax advisory services, country-by-country filing, and more. Our team of specialists has years of experience working with companies in all industries and of all sizes. With a personalised solution for each business, we can help you stay tax compliant, ensure you pay the lowest amount of tax, and help drive long-term success. Contact our taxation specialists today to find out more.