Tax Health Check
展群CK ® conducts Tax Health Check for your Companies are just like what we do for annual body checks.
The more frequent the number of health check, the easier to identify potential problems and resolve them early.
Whenever the company's business starts to operate abroad, it will involve new tax risks in overseas areas. For example, the changing tax laws in mainland China, the lack of value added tax (VAT) in Hong Kong, and so on, can put companies at risk of non-compliance with local regulations.
Scope of services that 展群CK ® conducts Tax Health Check are as follows:
The company changes accountants constantly, for previous underreported tax revenue will be tipped off to the Inland Revenue Department, and then being tax investigated by the Inland Revenue Department?
Examine the tax status of Hong Kong companies, such as whether the Companies can apply for Hong Kong tax residents in order to enjoy Double Taxation Agreements to reduce tax burden
Whether the offshore profits claim applied earlier still applicable
Whether the Company's tax losses are trasnferrable to other related companies
Will the overseas business of Hong Kong companies increase the overall tax burden?
Whether tax restruturing of the Group can reduce the tax burden
Make use of the Company to meet other financial objectives at the same time (e.g. investment immigration, visa application, etc.)
Whether the Company needs to comply with the requirements of the Transfer Pricing Documentations
Companies ready to introduce potential investors and investors require tax experise to provide tax analysis reports
Although Hong Kong's tax system looks simple, there are potential tax risks of being tax investigated by the Inland Revenue Department each year. As Hong Kong's Inland Revenue Ordinance allows the Inland Revenue Department to recover the undercharged tax revenue for the previous 6 years after the end of year of assessment. Therefore, the new buyer may have to bear the tax risks of the seller who may underreport their taxable profits.
According to the annual report of the Inland Revenue Department, the average annual tax investigation case is has underreported tax revenue of HK $6.5 million, in other words, an average of HK $1 million in taxable income per year.
Finally, Tax Health Check conducted by 展群CK ® allows you to understand potential tax risks and prepare a solution before the problem occurs.
For further information, please contact 展群CK ®:
a. Phone at (852) 3502 7392
b. Whatsapp at (852) 5227 9242
c. Email at