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Taxation and Audit in Hong Kong

──Mar 31 , 2021What about the audit report of the Hong Kong company?

       With the rapid development of China's economy and the change of the world environment, the communication between China and the outside world is constantly increasing. So more and more companies began to trade with foreign countries. For the convenience of foreign trade, domestic personnel set up companies in Hong Kong one after another. However, due to the differences in tax law and company law between Hong Kong and Mainland, if you set up a company in Hong Kong, your Hong Kong company shall be audited annually and issue a formal audit report according to the Hong Kong Company Law. What you need to pay attention to most is the audit opinion of this report, because this will directly affect the tax risk of your Hong Kong company.

       The observations of the Hong Kong Audit report are:1. An unqualified opinion;2.A reserved opinion;3.Not express an opinion;4Negative opinion.Among them, the unqualified opinion refers to the company's financial data is fair, complete and fully in line with legal requirements. The reserved opinion means that the financial data of the company is fair and complete, but there may be one thing that does not meet the legal requirements, so the reserved opinion is issued. this2This is a good idea and will not increase the company's tax risk.

       However, there is a difference between not expressing opinions and negative opinions. I will elaborate on the details in the next article.

       CycloseThe company is committed to providing domestic and foreign customers with corporate 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 private enterprises, listed companies and large state-owned enterprises.

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