YOU NEED TO KNOW
What is a Management Account within an accounting books?
Everybody has heard of a management account, many of them may see a few of management accounts in the past. So, what is a management account? Management accounts are financial reports that track various financial figures and metrics, and provide insight into the current financial health of a business. In principle they are similar to …
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WHAT TO PREPARE FOR YOUR AUDIT?
Submitting a year end audit is a company’s obligation. As an entrepreneur in Hong Kong, you have no option to avoid to prepare your audit report. Preparing a report seems to be headache. However, if you plan ahead, then the auditing is an essential tool to help you know better of your company’s financial status. …
Something you need to know about Company Restoration
In Hong Kong, company restoration re-registers a deregistered company and restores its legal status and operations. And here are something to know before restoring a de-registered company. Company restoration can be done when a company needs to reopen or restore its legal status for some reasons. So what are the common causes? For example, So there …
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All you need to know about De-registration of a Hong Kong Limited Company
De-registration of a company is not a situation to expect but it’s always good to prepare for. Herein this blog, we will take you through the requirements, process and what you can expect when you are de-registering the company with the help with Centre O. With our experience, clients tend to dissolve their companies due …
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2023 VALUE-ADDED TAX DEDUCTION in CHINA
The Ministry of Finance and the State Administration of Taxation announced on 1 Aug 2023, value-added tax (VAT) will be deducted. Thus, the government aimed to support the SME to further develop of business and to lessen the burden of individual. The act is valid till end of 2027. The announcement is as follows: Value-added …
HONG KONG – ASEAN COLLABORATION
Hong Kong Chief Executive, Mr. John LEE led a delegation to visit Singapore, Malaysia and Indonesia. During the trip, more than 30 MoUs have been signed. Thus, the act is signaling a closer collaboration based on a shared vision of prosperity and development in Asia. What are the achievements What is the Economic Trend? Malaysia’s …
FREQUENT VISITORS E-CHANNEL SERVICES, HONG KONG
Lining up to go through the immigration is always headache when travelling. As you may need to spend up to 2 hours to the immigration officer booth. However, if you have enrolled for the E-Channel service. Then you can save your time and go through the immigration at an ease. Are you eligible to enrol …
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BUSINESS IDEAS IN HONG KONG
Hong Kong is a well-known international business hub. No matter you are startups or growing companies, Hong Kong is an ideal place to ensure your success with your business ideas. We don’t have the crystal ball to see the future. But the magic is to choose the business that is going to be just right …
HONG KONG: BUDGET HIGHLIGHTS 2023-24
Overview The Financial Secretary, Mr. Paul Chan, delivered the 2023/24 Budget Speech on 22nd February 2023. The forecasted deficit of about $139.8 billion for 2022/23 is higher than the original estimate of about $56 billion. Then, the fiscal reserves estimation decreases to $762.9 billion, equivalent to 12 months of government expenditure. Where are we NOW? …