TAX COMPLIANCE FOR HONG KONG COMPANIES: PREPARING FINANCIAL STATEMENTS, CONDUCTING ANNUAL AUDITS AND OTHER OBLIGATIONS

Incorporating a company in Hong Kong offers companies a favourable tax regime, but at the same time imposes certain obligations in terms of tax compliance. This alert will examine what constitutes the annual tax compliance obligations of a Hong Kong company, as well as the mandatory independent audit, the deadlines for conducting it, and the notifications to be submitted to the Hong Kong Inland Revenue Department (hereinafter ‘IRD’) when hiring staff.