Hi all,
I'm having some major question marks when it comes to tax returns for an offshore HK limited.
Currently the company has its administration with a CPA company who advised to make use of a law to exempt the company from tax.
This all should be possible since the company has 0% of it's activity / operations in Hong Kong and profits are generated outside of Hong Kong.
The fee they charge to submit the documents to the IRD is HK$70.000 the first year, and HK$35.000 every following year.
When doing research at competitors (CPA companies) one of them being BBCIncorp Limited. They offer this service for free if we switch the company administration to BBCIncorp, or charge US$100 to submit the documents.
We are not sure what to believe since the price differences are massive. To me this looks like major red flags however i'd like some input from others who have experience with submitting such documents or applying for tax exemptions for an offshore Hong Kong ltd.
Thank you in advance!
I'm having some major question marks when it comes to tax returns for an offshore HK limited.
Currently the company has its administration with a CPA company who advised to make use of a law to exempt the company from tax.
This all should be possible since the company has 0% of it's activity / operations in Hong Kong and profits are generated outside of Hong Kong.
The fee they charge to submit the documents to the IRD is HK$70.000 the first year, and HK$35.000 every following year.
When doing research at competitors (CPA companies) one of them being BBCIncorp Limited. They offer this service for free if we switch the company administration to BBCIncorp, or charge US$100 to submit the documents.
We are not sure what to believe since the price differences are massive. To me this looks like major red flags however i'd like some input from others who have experience with submitting such documents or applying for tax exemptions for an offshore Hong Kong ltd.
Thank you in advance!
