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Why Every Hong Kong Company Needs a Company Secretary
Hong Kong is an international economic hub as well as a gateway for foreigners to do business in mainland China. If you want to expand to Hong Kong, you are legally required to appoint a company secretary for your new company. This article will cover what a company secretary does, who can become one, and how to find the right one for you.
End Of Year Financial Reporting in Hong Kong: All You Need to Know
An end-of-year financial report is an essential document summarising a company's financial standing. All limited companies registered in Hong Kong are legally required to audit their financial year-end reports and most are required to submit them to the Inland Revenue Department (IRD).
Employee Entitlements and Common Staff Benefits in Hong Kong
Hong Kong's Employment Ordinance is legislation that governs the terms and conditions of all workers in the HKSAR. Basic wage protection and statutory holidays apply to all employees, but employees under continuous contracts enjoy additional benefits. An employee who has worked for an employer for at least four weeks with at least 18 hours worked each week is viewed as a continuous contract of employment.
Accounting Standards in Hong Kong: Comprehensive Guide for 2023
We'll walk you through the fundamentals of Hong Kong Financial Reporting Standards (HKFRS), compliance requirements, and key considerations that can impact your business's financial health.
In Hong Kong, accounting standards play a crucial role when running a business. Let’s begin with a few key questions.
Essential Forms for Hong Kong Employers for 2024: What you need to submit to the IRD
An essential part of the payroll compliance process in Hong Kong is to file forms with the Hong Kong Government through the Inland Revenue Department (IRD).
The fiscal 2023/24 Hong Kong tax year wraps up on 31 March 2024, which means employers have to prepare for the annual Employer’s Return filing that begins in April. Collecting sufficient information upfront can ensure smooth operations for your business.
End of Year Employer’s Return in Hong Kong: What you need to know
The Hong Kong Employer’s Return of Remuneration and Pensions is a document that you must complete if your business is paying salaries. This form, also known as BIR56A and Form IR56B, tells the Inland Revenue Department (IRD) how much you paid individuals working for your company in Hong Kong.