Free Incorporation worth HK$1,545 when bundled with Accounting & Audit.
Free Incorporation . when bundled with accounting and audit, Limited offer – 6/100 slots already claimed! T&C’s apply
Register Now
cross close button icon
Get started
Contact Sales
Hong Kong
English | 繁體中文
Singapore
English
Australia
English
United Kingdom
English
FAQs

Tax & MPF

Stay ahead of your liabilities with expert guidance on offshore tax exemptions, multi-currency reporting, and employer MPF contributions.

Do Tax Deductible Voluntary Contributions (TVC) in Hong Kong affect my company's ability to switch our main MPF provider?

No. Your employee’s Tax Deductible Voluntary Contribution (TVC) account remains completely independent of your company’s mandatory MPF scheme. As an employer, you can freely switch your master trust scheme to another provider without any impact on your employees’ personal TVC accounts.

Can I still deduct expenses if my Hong Kong company did not generate any revenue during its first financial year?

Yes. You can claim deductions for legitimate business expenses incurred during your first financial year, provided your business had already commenced trading operations. However, general administrative costs incurred strictly before the business began trading are classified as pre-commencement capital expenditure and are not deductible under the Hong Kong Inland Revenue Ordinance.

Am I required to enroll part-time or freelance remote workers based outside of Hong Kong into an MPF scheme?

No. You do not need to enroll overseas remote workers or non-resident freelancers into a Hong Kong MPF scheme. You only carry legal MPF obligations for regular or casual employees aged 18 to 65 who work within Hong Kong under a local employment contract.

What happens if I accidentally miss the 10th of the month deadline for my employees' mandatory MPF contributions?

If you miss the deadline, the MPF Authority imposes an immediate 5% surcharge on the outstanding contribution amount, which you must pay entirely. If you continually fail to pay, you face civil claims or criminal prosecution, carrying a maximum fine of HK$450,000 and up to 4 years’ imprisonment.

Do I need to file an Employer’s Return (BIR56A) if my Hong Kong company currently has zero employees and only unpaid directors?

Yes. Even with zero employees or only unpaid directors, you must complete and submit the Employer’s Return (BIR56A) to the IRD within one month of issuance. You simply declare a “Nil” return confirming you paid no taxable remuneration. Late filings incur heavy statutory penalties.

If I use my personal credit card to pay for company expenses, how does that affect my company's profit tax deductions?

You can claim these expenses, but you must formally submit the receipts for reimbursement via a director’s expense claim form. If you do not document this reimbursement process, your auditors cannot legally classify your personal credit card charges as valid, deductible corporate expenses.
Still figuring out how to start your business?

Our specialists can guide you through the first steps of incorporating in Hong Kong.

Talk to an Expert
document.addEventListener("DOMContentLoaded", function() { document.getElementById('talktoanexpert1')?.addEventListener('click', function() { fireEvent('HK_CTA_Popup_Resources_Talk_To_An_Expert_1'); }); });
Sleek is the preferred partner of entrepreneurs
Expertise in company incorporation, accounting, tax services, and compliance.
Trusted by over
450,000
businesses worldwide.
4.8/5
stars
on Google
from 4,100+ reviews.
95%
satisfaction rate from
16,000 surveyed clients.
Contact us

RELATED READS

Jinny
Sleek Advisor
Jinny Lee Sleek Employee
Need help?

Reach out with your requirements, and our experts will be happy to assist you!

Contact us
Google logo
stars

4.8/5.0 Google Reviews