Tax Advisory

We proactively work with our clients to plan and structure tax solutions that add value, long before the tax return ever gets prepared. Adding value can mean different things to different people. For some it may mean reducing an overall tax burden today. For others it may mean adequately planning for the future, such as a tax effective transition of a business to another generation or key employees.

What is the deadline to submit the tax return?

In general the Inland Revenue Department (“IRD”) will issue the tax returns to Individuals and companies ( the “Taxpayer”) in Hong Kong in April or May each year. Upon receipt of the relevant tax returns, taxpayers are required to submit respective tax returns to the IRD of Hong Kong within one month from the date of issuing such tax return so as to allow the government to assess the taxable income earned by the taxpayer. The deadline for submission the profits tax return will be extended to three months for those companies that are submitting their first profits tax returns. Therefore, an accurate and timely prepared tax return together with the appropriate record keeping requirement are required to submit to the tax authority.

For those newly incorporated company, the profits tax return is usually issued by the IRD within 18 months from the date of its incorporation. In case of not receiving such tax return within this period, please notify the IRD voluntarily.

Any taxpayer who without reasonable excuse fails to comply with the requirements of section 51C shall be guilty of any offence: Penalty a fine at level 6 and the court may order the person convicted within a time specified in the order to do the act which he has failed to do. To lessen your burden of this timely tax administration procedure, Amax & Co. is devoted to help and free you with a peace of mind to handle other business affairs.

What kind of tax services do Amax provide?

At Amax & Co. we provide reviews and compilations of financial statements, and prepare income tax returns on your behalf. But this is only the beginning of our financial services. Since the business world is constantly changing, especially in the area of tax legislation. It is essential that you have skilled, informed advisors who have sound knowledge of your business and recognize the needs of your business. At Amax & Co. our tax professional always keep abreast of tax law changes throughout the year to ensure that you are taking advantage of all tax incentives to save unnecessary tax expenditure.

The scope of our taxation services includes:

Personal income and business tax planning

Representation of tax examinations

Responding queries from the tax authority on your behalf

Preparation of tax computation on your behalf

Assist in handling tax field audits and investigations

Preparation of tax return for Individual, incorporated and unincorporated corporation