Every country has its own mandatory accounting, audit and tax requirements. Understanding these requirements and how they must be met to fulfil legal requirements is not something that can be left to chance. The penalties for non-compliance, even if unintentional, can be harsh.
But compliance to avoid penalties is not enough.
Just as non-compliance can cause major problems, blind following of procedures and processes may not be in your best interests. Ideally, laws and mandatory requirements should be used to your advantage and help your business to grow. Just as in other parts of the world, understanding Hong Kong laws is a matter of knowing their history, appreciating the context in which they came into being and understanding how the relevant authorities interpret and apply them.
It is important to keep in mind that while Hong Kong occupies a unique position within the Chinese economy, this is for a specific reason. The changes in Chinese economic policy in the recent past has spurred unprecedented expansion and development. While foreign investment and trade is welcomed, the overriding imperative is that of generating growth. While there are huge opportunities in both investment and trade, there is also a need to create a business climate that foreign entities are familiar and comfortable with. This is the reason behind Hong Kong's special status and the laws that govern business activities. Additionally, Hong Kong is strategically placed as a hub for business in all of Asia.
Within the ambit of local accounting, audit and tax policies we can offer you tailor made solutions that will enable you to maximize the advantages that Hong Kong has to offer. At the same time, we can develop systems that are in compliance with local policies but which can also integrate into your existing financial control and planning systems.
Generating profits is one thing. Monitoring and control of financial operation and tax planning is another. Our years of experience, in depth knowledge of audit, accounting and tax policies will give you the ability to maximize the returns on your investment in doing business in Hong Kong. In addition it will free your management resources so that you can focus on business expansion and generating profits.
Hong Kong Resource Consultants Limited administers its websites from its offices in the Hong Kong. We makes no representation that materials or services at our websites are appropriate or available for use outside the Hong Kong, and access to them from territories where their contents are illegal is prohibited.
Nothing in our websites is intended nor should it be interpreted as in any way advocating, sanctioning, directly or indirectly, the commission of any act or omission by any person or company in any jurisdiction.
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These Legal Warnings will be governed by and construed in accordance with the laws of the Hong Kong.