Under the laws of Hong Kong, an incorporated Hong Kong company is required to conduct annual return on the anniversary date of incorporation of the company with both the Hong Kong Companies Registry (company registration authority) and Inland Revenue Department (tax authority).in order to maintain the status of legally operated. Such form of . In order to facilitate the completion of NAR1, key particulars of the company are filed. The Government now waives this payment for two consecutive fiscal years, which costs HK$105/year originally. 1. What Date Is My Annual Return Due? Up until 2047, Hong Kong will receive great autonomy. The Business Registration is due for renewal at a cost of HK$2,250 per annum. Rule 4: Filing of Annual Return with Companies Registry (CR) Each Hong Kong company must lodge an Annual Return (AR) with CR within 1 month. A domestic worker is entitled to a paid annual leave after every 12 months with the same employer. HSBC holds informal meeting with Hong Kong shareholders. A centrally-located venue at the heart of Hong Kong financial hub, the HKEX Connect Hall is an iconic venue for Hong Kong's financial community. Deadlines With the Inland Revenue Department. After ceasing to be dormant, it will resume to run as an active company, hence its obligation to file for an annual return, hold its annual general meeting of shareholders and also prepare audited financial statements for the years during which the company was in dormant status. Rule 5 . Other than the once a year filing for the above, you're also required to submit employer's return forms to IRD whenever . All local companies incorporated in Hong Kong needs to file an annual return. A branch of a foreign corporation doing business in Hong Kong SAR is required to file a profits tax return annually, and the HKIRD may require audited accounts of the foreign corporation to support the Hong Kong branch's profits tax return. If you submit this annual return late then your company is subject to a late fee of HK$3,480. 622K) to effect the waiver of registration fees for annual returns (except for late delivery) for two years and reduction of the fees payable in relation to incorporation of companies and registration of non-Hong Kong companies through electronic means by 10%. How and when to submit your annual return The annual return has to be filed every year within 42 days of the company's incorporation anniversary date. Business owners shall note that no time extension will be given for filing and it is an offence for not delivering the return on time. English form (but not instructions) translated into Chinese. Once the above steps are completed, you must decide on the mode of filing the Employer Return: BIR56A and IR56B in paper form. The Annual Return Hong Kong has to be signed by a director, company secretary, manager or authorized representative. 2011 - 12. Monetary policy in the financial hub moves in . Income Tax. In order to facilitate the completion of NAR1, key particulars of the company are filed. Consolidated Statement of Changes in Equity. Contents of Consolidated Accounts and Notes. Consequences of Non-filing or Filing Late Companies have to pay higher registration fees for filing Annual Returns late. Salaries Tax - Individual. The latest move brought borrowing costs to the highest level since October 2008, hours after the US Federal Reserve delivered a similar rate hike, as it stepped up efforts to cool surging inflation. Consolidated Statement of Comprehensive Income. It also holds the registered office's address. Within 42 days of your company's initial incorporation (except for the first year). The below infographics shows penalty that is been paid if company fails to file an annual return. Whereas this happen at the anniversary date of the annual return as registered and kept by the Companies Registry will be provided. Current topics. Hong Kong SAR (Last reviewed 30 June 2022) Tax returns are issued on the first working day of April each year. 6. Once after incorporation, a Hong Kong incorporated Limited company is required by the Hong Kong Companies Ordinance and Inland Revenue Ordinance to update its books of accounts, prepare financial . The clue's in the name. 2013 - 14. The 31 March is an important date because it marks the end of the Hong Kong government fiscal year. From 1 October 2022, the annual return registration fee of . 3 If you still find any difficulty with filing this form, contact Startupr. . Principal Intermediary Annual Return Form (Form Annual Return - PI) Expand All. Change in insurance policy maintained under the Securities and Futures (Insurance) Rules. Free assessment: Make an appointment now! Notes to the Consolidated Accounts. Join Our Markets. Submission of Employer's Return in Computerized Format; e-Application for Preparation of IR56 Form(s) by Using Employer's Self-developed Software . This is done annually, usually within 42 days of the incorporation of the business. An Annual Return is required to be filed within 42 days after the anniversary of . Employers would need to complete and submit the form to the government. LC, RI. By ER e-filing services. Your corporate secretarial service provider should notify you in advance of the relevant deadlines. Profits Tax Return Pay the annual business registration fee to the Hong Kong government Filing Profit Tax Return if required by the Inland Revenue Department Every company in Hong Kong needs to maintain good compliant status by fulfilling obligations. Head over to our Hong Kong Company Annual Compliance Requirements for more useful insights. Hong Kong's property market remains healthy. Hong Kong is a special administrative region within the People's Republic of China. Annual Report 2014/15 (Text Only) Annual Report 2013/14. An explanation of key terms and definitions used in our Annual Report and Accounts and Pillar 3 Disclosures. You could even face prosecution and being called to court if you fail to deliver your annual return in time. The details of the fine you'll be subjected to are as follows; Within 3 months of the company's due date - HKD 870 If you're not sure when exactly your annual return is due, you can use the government's online calculator to calculate the exact due date. 2020 - 21. The IRD will issue Tax Return filing notifications to Hong Kong companies on April 1st every year. Hong Kong company receives from the IRD a form of Profit Tax return in a term from 12 to 18 months after the incorporation date. All local companies incorporated in Hong Kong under the Companies Ordinance are required to file an annual return manually signed by a director or the secretary of the company once in every year. . Annual Return Every year, a company should deliver an Annual Return, which contains its particulars, such as the registered office, shareholders, directors, company secretary. The first 2 years, the number of holidays are 7, after which one more day is added, with the maximum days capped at 14. Depending on the company, records are usually available on the system for each annual return going back to 2013. on or before 2 July 2022). A notice of assessment or statement of loss will be issued after the tax return has been accepted by . It is imposed on the annual earnings and perquisites received from an employee's work and employment in Hong Kong. You should deliver in respect of every year an annual return in the specified form ( Form NAR1) for registration. 2017 - 18. https://www.hi-secretary.com/annual-return-hk-company/Sign up for free trial of Hi-Secretary (the Hong Kong Company Secretary Software):https://www.hi-secret. The Company's line of business includes the wholesale distribution of electronic parts and electronic communications equipment. Companies have to file an Annual Return and pay the fee by their anniversary date every year. The attachment of company's accounts is governed by the applicable rules here. The attachment of company's accounts is governed by the applicable rules here. annual return date, AGM, passport expiry date, etc. The annual return for the business should be filed within 42 days from the company's anniversary date. An Annual Return is required to be filed within 42 days after the anniversary of incorporation together with the payment of a statutory filing fee of HKD105 (USD14). . It maintains records of active and dissolved companies. Consolidated Cash Flow Statement. Non-Hong Kong companies filing NN3 Annual Return (section 788), if breaching the late submission must face a higher payable fee from HK$1,200 to HK$4,800. . 2014 - 15. BIR56A in paper copy and soft copy of the IR56B records. The Annual Return Hong Kong has to be signed by a director, company secretary, manager or authorized representative. Interactive daily chart of the Hong Kong Hang Seng Composite stock market index back to 1986. Issuers' Continuing Obligations & Annual Listing Fees. on the return date, which has to be signed by the director or company secretary before submission. You must deliver an annual return (Form NAR1), in respect of every financial year, to the Registrar for registration within 42 days after the company's return date (prescribed time period) pursuant to section 662 of the Companies Ordinance. Company Law The University of Hong Kong what does an annual return contain? The Companies Registry is the department in charge of registering local and non-local companies in Hong Kong. Salaries tax, known as BIR60, is one of the income taxes imposed in Hong Kong. e-Learning. The current price of the Hang Seng Composite Index as of October . 2012 - 13. Annual Return fee is another administrative payment that is related to renewing the Certificate of Incorporation of a HK limited company. The Inland Revenue Department (IRD) will issue profits tax return form to companies that are carrying out their business in Hong Kong. Head of state is a so-called Chief Executive. Taxpayers are required to complete and send the tax return back to the Inland Revenue Department (IRD) within 1 month from the date of issue of the return (i.e. Every private company in Hong Kong has to send in an annual return. Annual Report 2013/14 (Text Only) Annual Report 2012/13. For sole-proprietors of unincorporated businesses, the . 2 When to Deliver? Information from a Chinese annual return is available by accessing the company's registration records on China's National Enterprise Credit Information Publicity System which is run by the Administration for Industry and Commerce (AIC). Over 385,000 employer's returns were filed with the IRD for the year ended 31 March 2019. Annual Returns must be filed within 42 days of the business incorporation anniversary and Business Registration Certificates must be renewed when the demand note is issued. The return date for a public company is 6 months after the end of the company's accounting reference period. Annual Return Reminder The amount of the annual stamp duty in Hong Kong depends on the amount of authorized capital, usually the authorized capital of Hong Kong companies is 10 000 Hong Kong dollars. Every company is required to file annual returns with the Companies Registry and to pay the annual registration fee. There is no general income tax in Hong Kong (SAR). Business Registration Fee. Filing of Annual Tax Return with Inland Revenue Department (IRD) As per Hong Kong company law, every company formed in Hong Kong, must file a Tax Return (it's also called Profits Tax Return in Hong Kong) along with its audited accounts on an annual basis with the Inland Revenue Department of Hong Kong ("IRD"). To file this annual return, you must fill out an AR1 form within 42 days of the anniversary of the date your company was founded. To file the annual return, the Form NAR1 is filled with the required information and delivered to the Companies Registry of Hong Kong SAR. As per Hong Kong company law, every company formed in Hong Kong, must file a Tax Return (it's also called Profits Tax Return in Hong Kong) along with its audited accounts on an annual basis with the Inland Revenue Department of Hong Kong ("IRD").IRD issues Tax Return filing notifications to companies on the 1st of April every year. 1. Who has to file an annual return with the Registrar of Companies ? English PDF converted into editable Microsoft Word DOC format. Within 7 business days. Accordingly all non-Hong Kong companies will be required to deliver an annual return within the new statutory deadline, which is within 42 days after each anniversary of the date of the company's registration under Part XI (new Section 334 CO). Hong Kong Budget Hong Kong's Financial Secretary, Paul Chan, outlined his budget for 2022-23 in the Budget Address on 23 February 2022. . The prescribed time period to complete an annual return is within 42 days after your company's incorporation date anniversary. Independent Auditor's Report. LC. Consolidated Statement of Financial Position. Does a Contact Person in Section I need to be the same Contact Person as previously provided to the Authority in the Form of "Application for Registration as a Principal Intermediary" (Form INT-1)? As per Hong Kong company law, every company formed in Hong Kong, must file a Tax Return. (Branch Business Registration is HK$323) Late renewal will attract a penalty of HK$300. Salaries tax - on income from an office, employment and any pension. The Hong Kong Limited Company Secretary should deliver a properly completed and signed annual return together with the correct annual registration fee within the prescribed . An Annual Return Hong Kong, as the name implies, is a return that contains all particulars of the company such as the registered office address, shareholders, directors, secretary, etc. The Business Registration Certificate needs to be renewed either one month before expiration annually, or once every three years, depending on the case. The filing due date is usually within a month from the issue date of the return. Hong Kong Stock Market Index (HK50) Asian bourses came under heavy selling pressure on Friday and posted sharp weekly losses, as inflation and growth concerns have been a mounting headwind for stocks. Should no information have been changed year-on-year, you are still obliged to submit the NAR1 form and supporting documents. Consolidated Profit and Loss Account. Individuals Tax Returns for 2021/22 have been issued on 1 June 2022. Within 1 business day. as at the made up date of the return. Property tax - on income from land and buildings . Hong Kong employees are obliged to submit annual salaries tax to the Inland Revenue Department. Documents Required for Auditing in Hong Kong All business owners should submit their Annual Return to Company Registry on time, otherwise the company may be subject to fines and penalties. The Employer's Return must be submitted within one month from the date the IRD issued the forms. Notice to business registration office (IRBR1) - Must select whether a 3-year certificate is needed. Any late delivery (or submission) is subject to payment of a higher registration fee (or penalty).