Have you ever wonder about relocate your company to another jurisdiction that offers much better benefits for foreigners, in specific, the UAE?
Specialized knowledge of tax and statutory requirements for business structures and sectors. Dedicated teams to provide clear understanding of obligations and advice tailored solutions. Optimize tax positions and minimize the overall tax burden. Provide the practical steps that deliver confidence, consistency and compliance.
There are 2 mandatory duties which a Hong Kong company needs to fulfill to the Hong Kong Government annually. They are Profit Tax Return and Employer's Return.
First Profits Tax Return of the company will be issued by the Inland Revenue Department (IRD) approximately after 18 months of incorporation. The company is required to complete and submit the Profits Tax Return together with a set of audited account to the IRD in order to determine the amount of tax required to pay in respect of the basis period. Generally, first year accounting and auditing will take a longer time to complete. And according to the Hong Kong Companies Ordinance, the annual financial statements of all Hong Kong Limited Companies must be audited by Certified Public Accountant (CPA) for submission, it is recommended to arrange an accountant as soon as possible. Once the Profits Tax Return is submitted, it is difficult to change afterward.
Every first week of April, the Inland Revenue Department will issue an Employer's Return (IR56A&B) to the company. The employer has obligation to and MUST complete and submit the Employer's Return within 1 month regardless of whether the company has hired the employee or not. Delay will attract fine.
|Kind of Tax Return||Fee (US$)|
|Profit Tax Return||300|
|Companies||Filing a corporate tax return||Pay Corporation Tax|
|Private Limited Company (LTD)||12 months after accounting period||9 months + 1 day|
|Limited Liability Partnership (LLP)||12 months after accounting period||9 months + 1 day|
|Dormant Company||No tax return|
|Below 30,000||US$ 1,386|
|30,000 to 74,999||US$ 3,110|
|75,000 to 99,999||US$ 3,432|
|100,000 to 149,999||US$ 4,979|
|150,000 to 249,999||US$ 6,695|
|250,000 to 300,000||US$ 8,925|
|Above 300,000||To be confirmed|
UK Companies House
ECI is an estimate of the company's taxable income (after deducting tax-allowable expenses) for a Year of Assessment (YA)
|Due date||30 November|
|15 December (e-filing)|
Our corporate tax services include:
|ECI (*)||Form C-S||Form C|
|Company||US$ 500||US$ 499||US$ 699|
|Form||C-S||The company must meet all the four criteria in order to file Form C-S (*).|
|C||If your company does not qualify to file Form C-S, you must submit Form C|
(*) From YA 2017, companies will qualify to file Form C-S if they meet all of the following conditions:
The franchise tax for Delaware corporations, LLCs is due once a year on a particular date:
Franchise tax for Delaware corporations is due by March 1 each year. Corporations may pay the tax before March 1. Delaware Corporations that do not pay on time will automatically be assessed a $125 late fee, as well as a 1.5 percent monthly interest penalty. For a corporation with under 5,000 shares, the tax is $175 plus a $50 filing fee.
Delaware LLC must pay an annual franchise tax to the state of Delaware by June 1. Like Delaware corporations, LLCs may pay early before June 1. The fee for LLCs is only $300 per year. Failure to pay on time will result in a $200 late fee and a 1.5 percent monthly interest penalty.
Again, all Delaware LLCs owe an annual franchise tax of $300. This is a flat fee for all LLCs, making the tax simple to budget. It is a small price to pay for the benefits afforded to you under Delaware law.
|Total services fee and Government fee||US$ 549||US$ 549|
|Time frame||1 working day||1 working day|
|Due date by||1st March||1st June|
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