Pence CPA Limited, a Hong Kong-licensed accounting firm, provides comprehensive tax compliance services including profit tax return filing, annual return submissions for private companies, and individual tax return assistance. The firm helps clients avoid legal repercussions such as fines and legal proceedings by ensuring timely submissions and offering professional guidance throughout the process.
Professional Hong Kong-licensed accounting services
Comprehensive tax compliance solutions
Timely resolution of overdue filings
Legal procedure assistance
Services
Profit Tax Return Filing
Assists with filing profit tax returns for companies, addressing issues such as receiving notices from the Inland Revenue Department or court subpoenas.
Annual Return Filing for Private Companies
Helps private companies submit overdue annual returns, explaining risks and penalties, and assists with legal procedures.
Individual Tax Return Filing
Assists individuals who have not submitted their tax returns, explaining the risks and offering immediate professional consultation.
Credentials & Certifications
Hong Kong Licensed Accountant
Since 2020
Frequently Asked Questions
What are the risks of not submitting a profit tax return? +
Failure to submit a profit tax return may result in legal prosecution by the Inland Revenue Department, potential fines, and increased tax assessments based on estimated profits, leading to higher tax liabilities.
What are the penalties for overdue annual returns of private companies? +
According to the Hong Kong Companies Ordinance (Cap 622), overdue annual returns incur penalties ranging from HKD 105 for returns submitted within 42 days of the due date to HKD 3,480 for returns submitted more than 9 months late. Additional risks include potential prosecution of the company and its directors, and possible compulsory dissolution of the company.
What are the consequences of not submitting an individual tax return? +
Failure to submit an individual tax return can lead to criminal prosecution by the Inland Revenue Department, fines up to HKD 10,000, potential imprisonment, and additional levies of up to three times the assessed tax. The Inland Revenue may also issue estimated tax assessments that significantly increase the tax liability.
