WebApr 25, 2024 · TLDR: There is a two-tiered profit tax regime for corporations in Hong Kong. First HK$2,000,000 profits will be charged on 8.25%, and the remaining will be charged on 16.5%. Your company’s first profit tax return form will be issued 18 months after your incorporation. Thereafter, it will be issued on the first working day of April every year. WebBasic tax types Introduction to taxes and levies Income tax and provisional tax GST ACC levies. ... Taxable period (how often you’ll file returns) — monthly, two-monthly or six-monthly. ... You'll need to let Inland Revenue know the date you intend to stop charging GST. GST is usually payable on goods and services held at the time you ...

Hong Kong Profits Tax - General Guidelines on How to Compute …

WebThe Basis period is either:- the year ended 31 March during the relevant year; where the annual accounts are made up to any day other than 31 March, the year ended on that day in the relevant year; where the accounts are made up for each lunar year, the lunar year ended in the relevant year; WebINLAND REVENUE BOARD OF MALAYSIA BASIS PERIOD OF A COMPANY, LIMITED LIABILITY PARTNERSHIP, TRUST BODY AND CO-OPERATIVE SOCIETY Public Ruling No. 8/2014 Date of Publication:1 December 2014 Published by Inland Revenue Board of Malaysia First edition on 1 December 2014 Public Rulings No. 5/2001 and 7/2001 both … data transfer wireless

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WebDec 9, 2024 · Taxable period. Assessment of income is on a current-year basis. A company is taxed on income from all sources (whether business or non-business) arising in its financial year ending in the calendar year that coincides with that particular year of assessment. For example, a company that closes its accounts on 30 June of each year is … WebDec 30, 2024 · Taxable period A year of assessment (or tax year) begins on 1 April of a year and ends on 31 March of the following year. The period that is used to compute the taxable profits for a year of assessment is called the basis period, which is normally the financial year ending in the year of assessment. Tax returns bittersweet blessings on facebook