SetupHK Launches Free Corporate Tax Diagnosis Service — Limited to 20 Slots — Helping Hong Kong SMEs Navigate Tax Filing Season
- Written by Media Outreach
The service launches in alignment with Hong Kong's annual tax filing season, during which the Inland Revenue Department (IRD) begins issuing Profits Tax returns to businesses from April onwards. SetupHK stated that the initiative aims to help SME owners gain a clear picture of their financial records before formally engaging tax filing services, reducing the risk of missed deadlines and unnecessary tax complications.
Service Details
The free corporate tax diagnosis is conducted on a one-to-one basis by SetupHK's professional advisors. Each session runs approximately one hour and covers three key areas:
Account Health Assessment — A review of the completeness and accuracy of the company's existing financial records, identifying potential issues that require attention.
Tax Filing Arrangement Clarification — Based on the company's structure and financial year-end, advisors will outline the required filing steps and timeline.
Tax Risk Analysis — A preliminary identification of tax-related risks, including late submission exposure, discrepancies in financial records, and common filing errors.
Availability is strictly limited to the first 20 applicants on a first-come, first-served basis. To book an appointment: WhatsApp 852-9248-5734.
Background
Under the Hong Kong Inland Revenue Ordinance, limited companies are required to submit an annual Profits Tax return (BIR51) together with audited financial statements prepared by a certified public accountant. Late submission may result in a fine of up to HK$10,000 plus a penalty of three times the tax assessed. Based on SetupHK's experience serving SMEs, a significant number of business owners do not begin preparing their financial records until after receiving their tax return, leaving insufficient time to complete the mandatory audit process before the filing deadline.
Marx Chan, Director of SetupHK, commented: "Many business owners have little visibility into the actual state of their company's accounts. By the time they receive their tax return and realise there are problems, they are already under pressure. The purpose of this free diagnosis is to give owners a clear picture of where they stand — what needs to be done and how much time they have — so they can respond with confidence rather than scramble at the last minute."
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