Our Service

Accounting

    Accounting and payroll services:

    • Bookkeeping services
    • Compilation of management accounts
    • Internal control recommendations
    • Annual audit assistance
    • Payroll calculation
    • MPF processing
    • Maintenance of payroll related information and processing of employee expense reimbursement
Audit

Audit:

According to the Hong Kong Company Ordinance Section 122, a limited company must present an audited financial statement to the shareholders at each annual general meeting (AGM).

Every company must hold the first AGM within 18 month after incorporation and thereafter at least once in every calendar year. The interval between two AGMs must not exceed 15 months and the audited accounts of a company must be presented to its shareholders during the AGM within six to nine months after its financial year end.

Our Services:
  • Perform statutory audit in accordance with applicable accounting and auditing standards
  • Perform special audits as required, as well as provide corporate profits tax return filing services
  • Provide internal control recommendations to improve company efficiency
  • Provide professional training
Tax

Tax

Tax Planning

Tax planning is the process to minimize tax liability legally, for both individuals and cooperation.

Do not hesitate to contact us for your tailored made tax planning!

Tax Services

According to Hong Kong Inland Revenue Ordinance, there are three types of taxes in Hong Kong- Profits Tax, Salaries Tax and Property Tax. The year of assessment is from 1 April of current year to 31 March of next year.

Hong Kong adopts a territorial taxation system, only profits derived in Hong Kong are taxable. Profits derived outside Hong Kong are not subject to Hong Kong Profits Tax.

Profits Tax

  • Property tax is levied on the owners of real estate which is situated in Hong Kong. A corporation letting property in Hong Kong is regarded as carrying on business in Hong Kong and should be subject to profits tax in respect of its property income.
  • Current Tax Rate 2015/16: 15%

Salaries Tax

In general terms, this tax is imposed on all income arising in or derived from Hong Kong from an office, employment or pension.

In deciding whether income “arises in or is derived from Hong Kong”, it is necessary to establish where the employment, for example the source of income, is located.

Your net chargeable income, ie assessable income after deductions and allowances, is charged at progressive rates. But if what you need to pay on the basis of your net chargeable income exceeds the tax charged at standard rate on your net total income, ie assessable income after deductions but before allowances, then you have to pay the lower amount of tax.

Salaries Tax (Current Tax Rate 2015/16: 16.5%)

Example for progressive rates (assume that assessable income after deductions and allowances = $132,000)

Net chargeable Income Rate Tax
HKD HKD
On the First 40,000 2% 800
On the Next 40,000 7% 2,800
80,000 3,600
On the Next 40,000 12% 4,800
120,000 8,400
Remainder

In every year of assessment you are entitled to a basic allowance. You can also claim:

Year of Assessment 2015/16 2016/17
Basic Allowance 120,000 132,000*
Basic Allowance 240,000 264,000*
Child Allowance (For each dependent) the 1st to 9th child (year of birth/ other years) 200,000/ 100,000 200,000/ 100,000
Dependent Brother or Sister Allowance (For each dependent) 33,000 33,000
Dependent Parent and Dependent Grandparent Allowance (For each dependent) Parent / grandparent aged 60 or above (residing / not residing with taxpayer) 92,000/ 46,000 92,000/ 46,000*
Dependent Parent and Dependent Grandparent Allowance aged 55 or above but below 60 (for each dependent)(residing/ not residing with taxpayer) 46,000/23,000 46,000/23,000
Single Parent Allowance 120,000 132,000*
Disabled Dependent Allowance (For each dependent) 66,000 66,000

 

Other deductions (Maximum Amount) 2015/16 2016/17
Contribution to recognized retirement scheme 18,000 18,000
Elderly residential Care expenses 80,000 92,000*
Home Loan Interest 100,000 100,000
Self- education expenses 80,000 80,000

*Legislative amendments are required for implementing the tax measures as proposed by the Financial Secretary in the 2015-16 Budget.

Stamp duty

The Government has introduced a Buyer’s Stamp Duty (“BSD”) on residential properties with effect from 27 October 2012. Upon the enactment of the relevant legislation, any residential property acquired by any person (including a company incorporated) except a Hong Kong Permanent Resident will be subject to the BSD. BSD is to be charged at a flat rate of 15% on all residential properties, on top of the existing stamp duty and the special stamp duty, if applicable.

 

Special Stamp Duty (SSD)

On 26 October 2012, the Government has amended the Stamp Duty Ordinance to adjust the rates and to extend the holding period in respect of Special Stamp Duty (SSD). Any residential property acquired on or after 27 October 2012, either by an individual or a company (regardless of where it is incorporated), and resold within 36 months, will be subject to the new rates of SSD upon the enactment of the relevant legislation. Transactions which took place within 20 November 2010 and 26 October 2012 will be subject to the original SSD regime.

 

If the residential property acquired within 20 November 2010 and 26 October 2012:

Holding period Rate
6 months or less 15%
More than 6 months but for 12 months or less 10%
More than 12 months but for 24 months or less 5%

 

If the residential property acquired on or after 27 October 2012: 

Holding period Rate
6 months or less 20%
More than 6 months but for 12 months or less 15%
More than 12 months but for 36 months or less 10%

 

Ad valorem stamp duty (AVD)

With effect from 23 February 2013, unless specifically exempted or otherwise provided, stamp duty on sale or transfer of immovable property in Hong Kong is chargeable with ad valorem stamp duty (AVD) at higher rates (Scale 1)(Scale 2).  The rates at Scale 1 are as follows:

(Where the stamp duty calculated includes a fraction of $1, round-up the duty to the nearest $1.)

Scale 1:

Consideration or value of the property (whichever is the higher) Rate
 Up to $2,000,000 1.5%
$2,000,001 – $2,176,470 $30,000 + 20% of excess over $2,000,000
$2,176,470 – $3,000,000 3%
$3,000,000 – $3,290,330 $90,000 + 20% of excess over $3,000,000
$3,290,330 – $4,000,000 4.5%
$4,000,000 – $4,428,580 $180,000 + 20% of excess over $4,000,000
$4,428,580 – $6,000,000 6%
$6,000,000 – $6,720,000 $360,000 + 20% of excess over $6,000,000
$6,720,000 – $20,000,000 7.5%
$20,000,000 – $21,739,130 $1,500,000 + 20% of excess over $20,000,000
$21,739,130 and above 8.5%

Scale 2:

Consideration or value of the property (whichever is the higher) Rate
 Up to $2,000,000 $100
$2,000,001 – $2,176,470 $100 + 10% of excess over $2,000,000
$2,176,470 – $3,000,000 1.5%
$3,000,000 – $3,290,330 $45,000 + 10% of excess over $3,000,000
$3,290,330 – $4,000,000 2.25%
$4,000,000 – $4,428,580 $90,000 + 10% of excess over $4,000,000
$4,428,580 – $6,000,000 3%
$6,000,000 – $6,720,000 $180,000 + 10% of excess over $6,000,000
$6,720,000 – $20,000,000 3.75%
$20,000,000 – $21,739,130 $750,000 + 10% of excess over $20,000,000
$21,739,130 and above 4.25%
  • If you object to an assessment or suffered tax recovery by IRD, we can provide you professional advices and methods.

Our Services

We can provide professional advices related to taxation and calculate your tax liability under salaries tax or personal assessment after deductions and allowances, as well as filing the tax returns.

Our Services Fee (HKD)
Profits Tax Returns  – (B.I.R.51) / (B.I.R.52) 3000 Order Now
Individual tax returns (B.I.R.60) 500 Order Now
Property tax return (B.I.R.57 / 58) 300 up Order Now
Employer’s Return of Remuneration & Pensions (I.R. 56B) 100 (each copy) Order Now
Notification of remuneration paid to persons other than employees (I.R. 56M) 100 (each copy) Order Now
Reply to Hong Kong Inland Revenue letters (Each reply) 1,500 up Order Now
Against the tax assessment on behalf of Client 500 Order Now
Application for extension of tax returns on behalf of Client 500 Order Now
Handling inquiries and investigations form IRD Negotiable
Provide professional legal tax planning Negotiable
Salary Tax return 500 Order Now
Sole Proprietorship Profit tax return 1,000 up
Partnership Profit tax return 1,500 up

For any enquiries, please contact Asia Pacific Business Center at MetroUI-Other-Phone-icon 2803 6666, via fax 3996 9673 or via email.

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Due Diligence

Due Diligence:

  • Business consultation
  • Internal audit
Trademark Registration

Trademark Registration:

A trademark is a brand or name used to identify the owner’s goods or services and allow the public to distinguish them from the goods or services of others. The owner of a trademark may institute legal proceedings against trademark infringement to prevent unauthorized use of the trademark (For unregistered trademarks, owners have to rely on common law for protection).

Corporate Finance

Corporate Finance:

We have extensive financial knowledge and experience, and have a broad network of large or medium-sized fund management companies, including venture capital, growth capital private equity and hedge funds.

IPO

IPO:

    Access to capital for growth
    Opportunities to raise fund at time of listing and thereafter

    Broader shareholder base
    Investors from a more liquid market

    Employee incentive
    Granting share options to employee

    Higher profile and visibility
    Bring confidence to the Company’s suppliers and customers

    Increased corporate transparency
    Better credibility to bankers

    Well established legal system
    Best protection to all parties involved

    Simple tax system
    Low profits tax rate, no tax on dividend income and capital gain

    No foreign exchange control
    Capital is freely circulated among different locations

Company Secretary

Company Secretary:

According to the Hong Kong Companies Ordinance, every Hong Kong company must have a company secretary that must be

  • A Hong Kong resident; or
  • A body corporate which has its registered office or a place of business in Hong Kong.

Responsibilities of the Company Secretary include:

  • Submit annual return to Company Registry;
  • Maintain Shareholder(s) and Director(s) record; and
  • Report to the Companies Registry about the company’s transactions or activities, for example: change in shareholding structure
Other services

Other services:

  • Internal control recommendations
  • Transfer pricing

Please contact us at 2803 6660!

Contact us

Contact information


Tel: 2803 6660

Fax: 39969673

Email: info@apbcpa.hk

Address: Unit C, 9/F, Billion Plaza 2, 10 Cheung Yue Street, Cheung Sha Wan, Kowloon, HK