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<br>​​In the ever-evolving landscape of employment practices, employees and employers must understand their rights and obligations regarding severance payment in Hong Kong. Severance payment is financial compensation for dismissed employees due to redundancy or restructuring. In this article, we will delve into the various aspects of severance payment, including its definition, calculation, eligibility, and impact on other employee entitlements.

In Hong Kong, tax exemptions are applied to profits received from offshore funds. Here’s how to apply so your offshore company can benefit.

Good business recordkeeping is essential for managing costs, or regulatory reasons. If you are just starting up your business, it might not be the first thing that comes to your mind, but it can help you build a strong foundation.

It's time to get ready for a calendar of key deadlines to add to your calendar! Knowing the tax deadlines can help you avoid penalties and non-compliance, so you can have peace of mind running your core business.

Read on to find out all you need to know about Hong Kong’s taxes, and the important Hong Kong tax dates for a small business like yours.

In Hong Kong, all business owners must get their <a href="/hk/accounting-services-hong-kong/company-audit/">financial audit reports</a> checked by someone outside the business. This requirement exists, no matter what stage your business is at. It also applies to all Hong Kong incorporated businesses – whether you trade in Hong Kong or overseas.

The financial audit report requirement exists to ensure compliance with Hong Kong’s tax regime. There are hundreds of thousands of companies in Hong Kong, meaning the Internal Revenue Department (IRD) can’t feasibly check every business. So company audits are a way to manage tax compliance efficiently.

The repercussions of missing crucial deadlines extend beyond non-compliance and can even include hefty fines, lost revenues and opportunities, as well as decreased productivity.

All <a href="/hk/company-registration/">companies registered in Hong Kong</a> are required to do Annual Filing of certain documents every year. The deadlines set for filing are different for each document.

You will usually need to file your documents by a fixed time, either by a particular date or months after the date of incorporation. However, business owners are often so busy with business engagement that they forget about the deadlines.

As a result, they are penalised for late filing of documents. Getting penalised affects the company and the business’s cash flow. In this article, we will cover the type of filing documents and the penalties for late filing of documents.

New business owners or even company officers may not be familiar with the necessary paperwork to deliver to local authorities for annual requirements. Everything is new. Starting a business in Hong Kong is already so tough and now there is paperwork to deliver to be compliant?

Hong Kong is well-known for its simple and straightforward tax regime. For one, its corporate tax system follows a flat-rate and territorial regime, which makes the country one of the best places you could start a business in. However, despite the favorable tax rates, there are still cases of tax evasion which leads to legal consequences.

It is never a good idea to evade tax. If you are looking for ways to minimise your tax, our <a href="/hk/accounting-services-hong-kong/">experienced accounting team</a> can help with that and still make sure your company stays compliant.

Taxes & Compliance

Severance Payment in Hong Kong: Employee Rights and Employer Obligations

How Profit Tax Exemptions Work for Hong Kong Companies

A Guide to Business Recordkeeping in Hong Kong

Hong Kong Tax Year and Key Tax Deadlines for Businesses

Hong Kong Audit Report Requirements 101

What Is a Compliance Calendar?