If yourHong Kong corporate auditDo not handle on time, so when the Hong Kong Tax Bureau issued tax forms, enterprises can not submit the corresponding tax information in accordance with the requirements of the tax bureau. In this case, the Hong Kong Tax Bureau will impose a heavy penalty on the company that fails to submit the documents or approve the company profits tax, and the company must pay the profits tax according to the amount approved by the tax bureau, which will increase the tax burden of Hong Kong company.

Some customers may think that only the Hong Kong government and the tax bureau will require Hong Kong companies to produce audit reports. However, in addition to these government departments, the bank where the customer accounts may also require customers to provide audit reports. Because in recent years, many customers came to our company to entrust supplementary audit reports because of the bank requirements. Because the client's opening bank may conduct due diligence on the Hong Kong company, the bank will require the Hong Kong company to provide an audit report. If it cannot provide the audit report, the bank will freeze or cancel the account of the Hong Kong company. Therefore, if your Hong Kong company has normal fund transactions, you must make an audit report, otherwise the account may be frozen or even cancelled.

In addition to the account, if the Hong Kong company needs to apply for or use the relevant bill business, most banks will also require customers to provide the audit report of the Hong Kong company. Therefore, if the Hong Kong company needs to use the bill business in the trade and has not done the audit report, it should make up the audit report as soon as possible to avoid the bank suspending or canceling the bill business of the company. It will affect the normal business activities of Hong Kong company.

To sum up, if a Hong Kong company does not make an audit report, there will be risks to the bill business of the company, the existing bank account of the Hong Kong company, the tax of the Hong Kong company, and the directors and shareholders of the Hong Kong company. Therefore, to ensure the reasonable operation and compliance of the Hong Kong company, it is an indispensable and important matter to conduct the audit of the Hong Kong company in accordance with the regulations, and more importantly, to conduct a compliance audit report of the Hong Kong company.

CycloseFocusing on providing company audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many large state-owned enterprises and listed enterprises.