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Tax Planning and Advisory Services

In Hong Kong, three main taxes which namely profits tax, salaries tax and property tax levied by the Inland Revenue Ordinance. As an individual, sole proprietor, partnership, property owner and limited company, they should complete and file the tax return with required documents within the time limit, say within 1 to 3 months from the issue date of the tax return, to the Inland Revenue Department (“IRD”).

 

The issue of tax return bothered most taxpayers. In case they handled it improperly and completed it wrongly, they may suffer loss on money and even be prosecuted and fined.

 

We are experienced in handling and advising on tax issues in order to minimise our clients’ risk of filing a wrong tax return and tax liability under legal requirements. Therefore, we are pleased to provide the following services under each tax:

 

1.      Profits tax (for corporations in Hong Kong)

 

- Prepare profits tax computations and file profits tax return

- Provide professional advice on better tax planning under legal requirements

- Apply for tax exemption, such as 50% tax exemption for companies entered into a processing agreement with a China party and offshore tax exemption claim for companies with its assessable profits arising or derived outside Hong Kong

 

2.      Salaries tax

 

- Assist clients on completion of individual tax return

- Advise on tax efficient remuneration package

- Assist clients on tax matters, such as employer’s return of remuneration and pensions

 

3.      Property tax

 

- Complete and file property tax return for property owners

 

4.      Field audit/ tax investigation

 

- Communicate and negotiate with the IRD

 

5.      Others

 

- Act as tax representative of our clients

- Prepare tax replies to queries issued by the IRD

- Lodge tax objection, apply for tax extension or apply for holdover of provisional tax on behalf of clients

 

Besides, we handle and give professional advices on tax issues not only in Hong Kong, but also in Mainland China and foreign countries with our understanding of tax laws and regulations in those areas.

 

 

Auditing

According to the Companies Ordinance, annual financial statements prepared by every Hong Kong limited company should be audited by a Certified Public Accountant with a practicing certificate issued by the Hong Kong Institute of Certified Public Accountants (‘HKICPA’) and laid before its annual general meeting. Besides, profits tax return should be submitted with audited annual financial statements for tax assessment in compliance with the Inland Revenue Ordinance.

 

As an auditor, GC & Co. performs the statutory audit follows the Hong Kong Accounting Standards and Auditing Standards as required by the HKICPA and ethical standards, such as the independency of the reporting accountants and the confidentiality of clients' information. In addition to the general audit services, we would like to provide our clients value-added opinion and services through understanding clients’ expectation and its industries. We believe it can enhance the quality of financial statements and improve the efficiency of company operation.

 

Except for the statutory audit, the following internal audit or special audit will be carried out by reference to our clients’ needs:

 

- Audit or due diligence provided for sino-foreign joint ventures and mergers and acquisitions

- Report and advise on operation efficiency and management performance by internal audit

- Investigation on management misconduct

- Sale of businesses and related valuation

- Audit services for charities and associations
 
Accounting Services

Every Hong Kong company is required to prepare annual financial statements for statutory audit and maintain proper business records for at least 7 years, which included books of account recording receipts and payments, or income and expenditure; and vouchers, bank statements, invoices, receipts, and such other documents as are necessary to verify the entries in the books of account, in order to enable its assessable profits to be readily ascertained.

 

Companies can concentrate on their business and enjoy costs saving while ensure the financial statements are prepare in accordance with the accounting standards by way of subcontracting the accounting work to experienced professionals.

 

GC & Co. has extensive experience and expertise in different industries, such as catering, logistics, trading, manufacturing and incorporated owners of buildings etc. We provide professional, efficient and high quality accounting services to our clients through financial analysis and suggestions to enhance business management and profitability. Therefore, we are pleased to provide the following services:

 

- Prepare voucher and data input into the computerised accounting system

- Prepare monthly, quarterly or yearly financial statements, included balance sheet, income statement, account receivables, account payables and general ledger

- Prepare financial statements as per client request and report to company on a timely basis

- Suggestions or advices made on financial information given by clients

- Prepare cash flow budget and financial budget

- Maintain company payroll record and assist in computing and handling salary and MPF payment

- Improve clients’ sale system, purchase and expenditure system, inventory system and other systems

- Other advisory services

 

 




Corporate Finance

Corporate finance is an important part for companies’ development. Companies should consider the finance method and place of financing. Hong Kong is an ideal place for financing and attracts many enterprises to look for financing as it is an international financial center with diverse finance channels and experienced professionals. Some leading financial institutions and multinational companies in the world would choose to set up regional headquarters or offices in Hong Kong.

 

GC & Co. has extensive experience and expertise and assists clients in projects investment and capital expansion etc., which matched with their business strategy in order to achieve clients’ goals. Therefore, we are pleased to provide the following services:

 

Mergers and acquisitions

- To formulate and plan for companies’ development, strategies in mergers and acquisitions

- To seek an appropriate target for mergers and acquisitions

- To assess the value of companies and its business

- To advise and on the enquiries of finance and tax

Corporate restructuring

- To assess and analyse the companies problems with solutions

- To provide debt restructuring plan, assist in locating a new investor and consult with debtors

- To assist in disposal of non-core business

- Optimisation of human resource, for example personnel placement

Trade finance

- To search for and introduce appropriate bank loan portfolio

- To prepare required documents for application of bank loans and trade finance

Strategic partner

- To assist in finding a strategic partner

- To assess the returns and benefits

Initial Public Offering (“IPO”) Planning and Consultancy Services

After China's accession to the World Trade Organisation and introduction of the reform and opening-up policy, Chinese companies developed rapidly. Some of them will raise capital by listing to expand their business and higher their corporate profile around the world.

 

There are many capital markets offering choices for going public. One of the questions to be considered is the place of listing. It is important to the success of IPO as it will affect the cost of corporate finance. Nowadays, most large State-owned enterprises, like Industrial and Commercial Bank of China Limited and China Everbright Limited, chose to list in The Stock Exchange of Hong Kong in Hong Kong.

 

GC & Co. has extensive experience and expertise and helps clients entered into, managed and executed of the affairs of the IPO plan to make companies successfully listed. Therefore, we are pleased to provide the following services:

 

- To plan for corporate restructuring before listing

- To assist in rebuilding a set of international accepted accounting system

- To advise on the feasibility of listing by way of financial review and analysis

- To introduce appropriate professionals, such as bankers, lawyers, sponsor, financial public relations firm etc.

- To consult with investors and institutional investors before IPO

- To assist in IPO application process

 

 

 
Trademark Registration

A trademark is a sign that distinguishes the goods and services of one trader from those of others. Typically a trademark can be words (including personal names), indications, designs, letters, characters, numerals, figurative elements, colours, sounds, smells, the shape of the goods or their packaging or any combination of these. A sign must be capable of being represented graphically in order for it to be registered as a trademark.

 

GC & Co. is an experienced professional to handle with the application of trademark registration and provide professional advices. We provide registration services not only in Hong Kong, but also China, Singapore, USA, UK and Italy etc. Therefore, we are pleased to provide the following services:

 

- To prepare and submit documents and authorisation letter

- To follow up with the registration process

- To obtain the registration certificate

- To handle with objection matters when the trademark is objected by Intellectual Property Department

 

Hong Kong Capital Investment Immigration

"Hong Kong Capital Investment Entrant Scheme" is introduced since 2003 for the sake of attracting foreign capital. Under the Scheme, persons who invest in Hong Kong and meet certain criteria can entitle to the status of Hong Kong permanent resident and enjoy the following advantages:

 

- Hong Kong passport holders have been granted

      visa-free access to visit more than

      140 countries and territories

- Spouse and unmarried dependent children under the age of 18 can apply for immigration simultaneously. Any children born in Hong Kong will be granted Hong Kong passports and treated as Hong Kong citizens without birth restriction

- The citizenship of country of origin can be retained, and any business and the living in the country of origin will not be affected

- The immigration requirements are relatively loose without provision for language requirement and educational background etc while the immigration procedures are relatively simple without the need to meet with any Immigration Officer

 

GC & Co. has the professional qualification of Certified Public Accountant (Practising), in order to improve application efficiency and shorten processing time, to handle the audit of assets and application procedures for the immigration. Therefore, we are pleased to provide the following services:

 

- To carry out audit of assets before the application

- To introduce appropriate financial investment services

- To carry out the investment immigration assessment

- To submit the asset audit reports and other

       relevant documents to the Immigration

       Department of Hong Kong  

 

 
Contact Us
GCCPA
Tel : +852 28513555   Fax : +852 28513325
E-mail : info@gc-cpa.com
Address : Unit 607, 6/F, Tower 3, Phase I, Enterprise Square, No.9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong
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