My Company only opens an account at a foreign bank in China and does not open account in Hong Kong; shall the business conducted by my Company be free from tax declaration?
A： No. According to Hong Kong laws, every Hong Kong Company has the obligation to declare its financial condition to Inland Revenue Department, whether its business takes place in Hong Kong or not. If this Company does not have its source of income in Hong Kong, it can apply to Inland Revenue Department for exemption from taxation.
Related Questions
- My Hong Kong Company only opens account at bank, to collect and pay bills for other China Company, then does this Hong Kong Company need to process accounting, auditing and tax declaration?
- My Company only opens an account at a foreign bank in China and does not open account in Hong Kong; shall the business conducted by my Company be free from tax declaration?
- Can Foreign Investment Enterprise open account in foreign bank in mainland China?
