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──Jul 21 , 2022What should a Hong Kong company do when it receives a rebate cheque from the Inland Revenue Department?

According to the profits tax policy of Hong Kong, if the onshore profits are subject to profits tax, the same amount of the next year's advance tax should be paid at the same time of the current year's profits tax. Pre-payment of tax after next yearHong Kong companyIf the loss or profit is not so much, the tax bureau will refund the overpaid pre-tax, but the Hong Kong Tax Bureau will only issue a transfer check for tax refund, and will not transfer through the online bank.

After receiving the tax refund check,Hong Kong companyYou should take it to your bank for settlement. Ordinary bank accounts opened overseas, such as HSBC Hong Kong, the bank can be directly credited with a cheque. However, if the bank account of the Hong Kong company is opened in China, such as China Merchants Bank, the domestic bank cannot register the checks in Hong Kong at present, in this case, the check shall be returned to the tax bureau, and other companies shall be entrusted to collect the tax refund from the Hong Kong company, and the tax bureau shall be requested to issue a new check with corresponding title. The Hong Kong Inland Revenue Department can generally refund the tax to the directors of the Hong Kong company for collection orHong Kong companyIf it is an unrelated company, the tax bureau will make a series of inquiries and provide information to confirm that no other related accounts can be entered into the account, and then the Hong Kong Tax Bureau will issue a new check.

What should a Hong Kong company do when it receives a rebate cheque from the Inland Revenue Department?

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