As a business owner in Hong Kong, staying compliant with tax regulations is crucial to avoid penalties and legal troubles. One of the most important tax obligations is the filing of the BIR60 form, an annual return that corporations and partnerships must submit to the Inland Revenue Department (IRD). The BIR60 requires businesses to report… Continue reading BIR60 Form: What Hong Kong Business Owners Need to Know

As a business owner in Hong Kong, understanding the process of winding up a company is crucial, whether you’re facing insolvency, restructuring, or voluntarily closing operations. The winding up procedure involves a series of legal steps that, if not handled properly, can have significant financial and legal consequences. This blog will guide you through the… Continue reading The Ins and Outs of Winding Up a Business in Hong Kong

As a self-employed individual or business owner in Hong Kong, you wear many hats – entrepreneur, manager, marketer, and more. One crucial responsibility that often gets overlooked is managing your tax obligations. Failing to do so can result in hefty penalties and fines, eating into your hard-earned profits. Paying taxes is a legal obligation, but… Continue reading Minimizing Your Self-Employment Tax Burden in Hong Kong

As a business owner, ensuring compliance with local regulations is crucial for the success and longevity of your operations. One such requirement that demands your attention is the NNC1 form, a legal document that must be submitted before undertaking any building work. Failure to comply can result in severe penalties, jeopardizing your investments and potentially… Continue reading Understanding the NNC1 Form – A Complete Guide

As a business owner in Hong Kong, staying on top of tax filing requirements is crucial for maintaining compliance and avoiding penalties. With the 2024 tax deadline approaching, it’s essential to understand the key dates and obligations to ensure a smooth filing process. Failure to meet the necessary tax filing deadlines can result in hefty… Continue reading 2024 Tax Deadline for Hong Kong Business Owners: What You Need to Know

Let us guess!You’re a business owner in Hong Kong figuring out the big book of taxes. Let’s take a chapter from that book and tell you about withholding taxes Withholding tax is a type of income tax that businesses in Hong Kong are required to deduct and remit to the government when making certain payments… Continue reading Hong Kong Withholding Tax: Complete Guide for Business Owners (2024)