Company accounts, tax returns and tax returns in Hong KongHong Kong corporate auditIn March and April each year, the Inland Revenue Department will issue employee and non-employee return forms, requiring every enterprise to declare wages in full and on time. If the enterprise has paid salaries to employees and directors in that year, it needs to be filled in56B(Employee Return form), if commission has been paid to an individual other than the employee56MFile (a return other than an employee's) with the Revenue Board. Report to the tax Bureau the compensation they received from the enterprise for the year. Then the enterprise will fulfill the obligation of timely reporting to the tax bureau. Whether you need to pay taxes is the relationship between the tax bureau and the taxpayer.

A return received from the IRS is filed within a specified period (usually within one month), unlike a tax form, which can be extended to the tax filing deadline within the balance sheet date. So many enterprises, at this time are not very sure, in the end, how much pay, this will involve the provisional estimate of the wage declaration. In general, when making accounts and tax declaration, the salary of the staff should be consistent with the declaration form. If it is inconsistent, reasonable explanation should be made to the tax bureau. Request the tax bureau to issue a corrected return. So if the enterprise does need to revise the employee return, there is a reasonable explanation can also be.

Company accounts, tax returns and tax returns in Hong KongHong Kong corporate auditIf you understand more relevant knowledge, you can reduce the risk of the enterprise.

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