No Profit from Business, No Need to Report Income? Think Again！
When it comes to tax filing, many business owners have the same question: If my business did not make any profit after deducting expenses, can I simply put “0” on the tax return?
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Overseas Clients ≠ Offshore Income?｜Cross-border Tax Arrangements Require Professional Support
After the pandemic, more companies have started handling overseas business online.
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Tax Assessments Can Be Wrong? Check These 12 Items Carefully Before You Pay!
Every year, when people receive their tax assessment, many of them immediately think about paying it as soon as possible so they will not delay the matter.
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Understatement of income to Inland Revenue Department — Could It Cost You Dearly? | A Penalty Case Explained
When it comes to filing taxes, many people think, “I can handle it myself.”
But in reality, understatement of income to Inland Revenue Department in tax filling is a very common issue in Hong Kong. -
Deferred Annuity Tax Deduction Guide | Tax deduction up to $60,000? Check if you meet the requirements first!
In recent years, more people in Hong Kong have started considering deferred annuities as tax deductions. During the tax season, a common question is: “How much tax deduction can I get from an annuity?”
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Voluntary Health Insurance Tax Deduction: 4 Common Mistakes That Could Cost You a Claim
Many taxpayers purchase Voluntary Health Insurance (VHI) with the expectation that they can easily claim a tax deduction. However, in practice, a large number of people later discover that their VHI premiums cannot be fully claimed, or in some cases, cannot be claimed at all.
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Why Is It So Hard to Open a Company Bank Account? Common Reasons Applications Get Rejected
Many small and medium-sized business owners in Hong Kong believe that opening a limited company bank account is simply a matter of preparing the required documents listed online.
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🌟 Don’t Let a Missing Green Envelope Affect Your Loan Plans! 🏡💰 Get your Tax return in 3 Simple Steps!
When applying for bank loans, whether for buying property or business financing, you’ll need to submit your tax return. If you don’t receive that crucial green envelope, you might find your plans blocked and unable to secure funding!
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Do You Have to Pay Taxes When Buying or Selling Property? (Part 2)
Tax authorities are tightening their watch, cracking down on false claims of personal residence!
In Part 1, we analyzed Case No. D21/22 to understand how the tax office assesses your “intent” when purchasing property, which determines if you owe taxes on the sale. A key factor is the property’s usage; many claim “personal residence” to contest tax assessments, yet most appeals fail. This article reveals how the tax office gathers evidence to accurately gauge your actual residency. -
Do You Pay Taxes When Buying and Selling Property for Hong Kong Property?
In Hong Kong, whether you need to pay taxes on property transactions depends on whether those transactions constitute “business” activities.
