Business Registration Hong Kong Tax
Both local and overseas persons can carry on business activities in Hong Kong but the business holders must register their business to Inland Revenue Department IRD to create a business entity and fulfill their tax obligations levied on their business. This guide provides information about the Hong Kong business registration number and Hong Kong business registration number search.
However it must apply for a Business Registration Certificate with the Inland Revenue Department within one month from its date of commencement.
Business registration hong kong tax. Latest Arrangement for Counter Services of the Business Registration Office. Every business operating in Hong Kong requires a Hong Kong business registration number BRN. If you have a business in Hong Kong you are required to apply for a.
This documents shows that the company is valid and registered within the Inland Revenue Department. The Business Registration Certificate BRC is a document which states the particulars of a company and is a requirement for conducting business for a Hong Kong company. The application forms will be sent to you by post.
Meanwhile the payment of HK3950 for a certificate has a validity period of 3 years. Each business in Hong Kong must secure one when conducting operations. It is important to note that all the numerals of the BR number are used as an identifier equivalent to the tax.
This number is issued by the Inland Revenue Department IRD before a work location can be set up. Proforma Profits Tax Computation Sole. Individuals are taxed at progressive rates on their net chargeable income at 2 6 10 14 and 17 or at a standard rate of 15 on net income.
E-mail to taxbroirdgovhk complete the form IRBR194 or request in writing by post or by fax 2824 1482 to the Business Registration Office. Home Tax Information - Others Business Registration. Hong Kong Inland Revenue Department does not issue TIN instead the IRD uses Hong Kong identity numbers for individual taxpayers and business registration for corporate taxpayers as the TIN.
Press Release - April 1 2021 IRD issues profits tax property tax and employers returns for 2020-21. Identity of directors and shareholders is publicly disclosed in filings with the Companies Registry. Please state your name correspondence address and the type of application form and quantity required.
General Business Required to be Registered and Application for Business Registration. Corporate tax is fixed at 165 of assessable profits for companies and 15 for unincorporated business. Limited private companies.
A business registration certificate is a document issued by the Business Registration Office showing details of a company and is one of the main requirements for running a business in Hong Kong. Application for Business Registration Number Equivalent by Financial Institution. This certificate is normally valid for 1 year.
For unincorporated businesses the first HK2 million of profits will be taxed at one-half of the current tax rate ie 75 and the remaining profits will be taxed at the existing 15 tax rate. The Business Registration Ordinance requires every person who carry on a business in Hong Kong whether it is a sole proprietor a partnership a Hong Kong limited company or a non-HK company having business in Hong Kong to apply for business registration BR within 1 month from the date of commencement of the business. There is neither capital gains tax nor any withholding tax on dividends and interest or collection of social security benefits.
This is a sample of what the Business Registration Certificate looks like in Hong Kong. Starting from March 1 2018 companies incorporated in Hong Kong except for listed and exempted companies are required to create and maintain a significant controllers register. A person can register more than one business at the same time.
One-stop Company and Business Registration. There are no registration requirements with the Companies Registry for Representative Offices in Hong Kong. 4F Revenue Tower 5 Gloucester Road Wan Chai Hong Kong.
It is an 8-digit sequence at the front of your BR certificate number eg. Only one entity within a group of connected entities can enjoy the two-tier rates. Related to the Arrangement between the Mainland of China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income.
Tax When considering starting a business in Hong Kong limited taxes on corporations are a major selling point. Image from Inland Revenue Department Hong Kong. The Inland Revenue Department IRD of Hong Kong issues this number.
8 rows Hong Kong has an attractive corporate tax regime highlighted by low Hong Kong tax rates. A Hong Kong business registration number BRN follows an 8-digit sequence. Generally the Hong Kong business registration fee costs HK250 for a certificate with a validity period of 1-year.
