Strategic & Tactical Planning
It’s a daunting challenge: How do you move forward at speed despite enormous uncertainty? Radar Strategy provides the answer. Our unique “Today Forward, Future Back” approach enables you to create value now as you move toward your future vision, with the flexibility to adapt as scenarios change. We’ll help you make critical choices and choreograph your transformation journey as you bring your core to full potential and build new growth engines.
Our team of global experts help you achieve sustainable, organic growth by focusing on three critical building blocks: an outside-in approach that puts customers first, a uniquely great customer experience and internal capabilities that ensure you deliver optimal customer interactions at every touchpoint.
Profits Tax
Hong Kong adopts the territorial source tax system, whereby only income arising in or derived from a trade, profession or business carried on in Hong Kong is subject to profits tax.
Salaries Tax
Personal salaries tax in Hong Kong may not be as straightforward as one may think. There are various tax reporting and notification obligations with stipulated deadlines imposed to different parties.
Property Tax
Certain additional deductions (e.g. mortgage interest) are available when the taxpayer concerned elect for personal assessment, subject to certain conditions and proper application.
Stamp Duty
Stamp duty is a duty imposed on specified instruments or documents required by the Hong Kong government. It is important to only use duly stamped instruments or documents..
International Tax
For international businesses with operations in or through Hong Kong, proper tax planning and advice are highly recommended. It has to be noticed here that Hong Kong currently has about 43 double taxation.
Mainland China Tax
Mainland China adopts a sophisticated tax system, which is now composed of 18 kinds of taxes, including turnover taxes, income taxes, property & behaviour taxes, resources taxes and special purpose taxes.
Tax Disputes & Investigations
Hong Kong has a relatively simple tax system in comparison to most other of the tax systems in the world. However, regardless how simple the tax system is.
Accounting
All businesses and companies in Hong Kong are required to do bookkeeping and audit these accounts. HKWJ is here to assist you in this area.
Although accounting requirements in Hong Kong seem to be quite burdensome (compared to some other jurisdictions where such requirements do not exist or where exemptions apply), for purposes of creating tax substance, it is quite an advantage to have these management and audit accounts in place.
Having organised accounts in place help to have a good understanding of your company’s financial performance.
Corporate Audit
Every year, a Hong Kong company must audit their accounts by a Certified Public Accountant (CPA) and file the audited accounts together with tax return to the Inland Revenue Department (IRD). This is called statutory audit.
An independent CPA should be hired, which should be separate from the CPA or external bookkeeping firm who has been hired for ding the bookkeeping or management accounts to ensure the audit report is an independent and professional report.
Statutory Audit
The mandatory auditing includes the following procedures:
- Assess the size of the audit
- Determine the audit opinion
- Review all financial statements
- Ensure compliance with all the Inland Revenue Department and HK Compliance Ordinance
- Identify potential accounting errors and reporting mistakes
- Sign off the audit document
Dealing with auditors can be rather challenging because it does require patience and bookkeeping knowledge on the part of those being audited. Our Company will arrange the audit for your company. We will handle all enquiries that are being raised during the audit process provide supporting documents. We also manage the time to ensure the audited financial report will be submitted on time before the deadline of filing taxes lapses.
Alternatively, if you already have a CPA, we can give you business advice on how to improve the financial performance of your business.
Non-Statutory Audit & Review Services
Different business settings and opportunities may require special audit services not included in the statutory audit. We can accommodate our clients’ unique needs to perform the following services among others:
- Due diligent reports
- Fraud investigation & forensic accounting
- Internal controls and operations review
- Review for merger & acquisition
Contact us for a free consultation on the required services that you would like to engage and we will provide you our professional assistance to implement the necessary course of actions.
