Hong Kong (Eng)

The Inland Revenue Department (IRD) will begin issuing the 2024/25 Profit Tax Returns to companies starting from April 1, 2025. Please stay informed. … Read More

Business Registration (BR) for companies must be renewed annually. The Inland Revenue Department (IRD) provides the applicable fee schedule for reference.
The 2025-2026 Business Registration (BR) fee has been released. Please stay updated on the fee changes and ensure timely renewal payment upon receiving the new BR certificate to avoid late penalties. … Read More

A cash flow record simply tracks income and expenses, while accounting records provide a comprehensive and accurate financial overview.
An audit report relies on complete accounting records, which form the foundation for preparing financial statements (such as the balance sheet and profit and loss statement). These statements must be reviewed and certified by a professional accountant before being submitted to the Inland Revenue Department (IRD) along with the Profits Tax Return. … Read More

For Hong Kong companies, the annual profits tax return is a crucial tax compliance process. According to the Hong Kong Inland Revenue Department (IRD) practice, profits tax returns are usually issued around April each year. Companies must submit their profits tax returns within the specified timeframe. Failure to comply may result in penalty notices or court summonses from the IRD, which can lead to serious legal consequences. … Read More

Many employers have these questions before hiring part-time employees. City AI Accounting has summarized the key points below to help employers understand their obligations! … Read More

Some business owners may ask: If my company hasn’t been operational and has no income, do I still need to file taxes?
The answer is yes.Upon receiving a Profits Tax Return, even if the company has not conducted business during the reporting period, proper bookkeeping, auditing, and tax filing are required. … Read More

In school administration, maintaining accurate inventory records is fundamental to transparent asset management, efficient operations, and regulatory compliance. Below, we outline the critical reasons why inventory management is crucial for schools. … Read More

Expertise in commercial accounting alone cannot address the unique requirements of school finances, especially regarding the distinct practices of “General School Accounts” and “Project Accounts.” Managing school finances involves not only meeting basic financial recording standards but also adhering to specific Education Bureau regulations and requirements. Specialized knowledge and experience are essential for successful school accounting. … Read More

In school management, maintaining accurate and comprehensive accounting records is the cornerstone of financial transparency and compliance. Schools need precise documentation of various income and expenditures to provide the required financial reports to the Education Bureau and other relevant authorities on time. Accurate records also serve as valuable references for operational planning in the upcoming years. To ensure the accuracy of school accounting, it is essential to understand the General School Account and Project Account, as well as to have relevant bookkeeping experience. … Read More