As a reliable and professional corporate services provider, Fly High is highly specialized in providing accounting and taxation services in Hong Kong. We focus on comprehensive problem-solving approach to support small and medium-sized enterprises (SMEs) which are doing either local or international business, to comply with their obligations of corporate accounting, annual audit arrangement, tax returns filing, and even cross-border tax planning. Our one-stop package also includes consultation on your financial and taxation matters based on our thorough understanding of our client’s business operations and financial transactions.
Annual Corporate Accounting
One-off preparation of accounting books and statements in your companys accounting year
Statutory Audit Arrangement
Preparation of audited financial statements, auditor’s report and tax computation by a practising HKCPA
Tax Representative Service
Filing of Profits Tax return of your company's behalf
Finance and Tax Consultation
Advisory opinion for improvement to your corporate finance and tax situation
Remarks:
Fly High networked practising HKCPA provide the statutory audit services; Fly High provides the other services as the contracted tax representatives and accountants on the clients’ behalf.
Fly High is the primary point of contact bridging the clients and the HKCPA. In case that a client requires consultation service by the HKCPA, this service subjects to separate quotation.
Standard Workflow
Free Initial ConsultationYou can receive a FREE initial consultation, we will offer as much advice as we can. The meeting in either face-to-face or other electronic means are welcome. The meeting is obligation free. If you already have an accountant, the changeover is very simple and we take care of it for you. Please either contact us directly or complete and submit the form below.
Quotation and PaymentYou’ll receive a competitive quote after the meeting for your consideration. The quoted items and their pricing are calculated based on your supplied information, particularly the turnover and the number of transactions, and our capacity, particularly the availability of the HKCPA and the accountants, the estimated time spent, and the level of skill and responsibility involved.
If you accept the quotation, you can proceed to payment. We will begin our services after we have received the full payment.
Financial Documents CollectionIn the simplest sense, financial documents are the documents record of expenditure and income of your company through the accounting period, these include, but not limited to, the staff payroll record, the staff MPF contribution records, the bank account statements, purchase invoices/receipts, sales invoices/receipts, the record of expense and income of cash and cheque.
In addition, we have to view the tax computations, accounting books and audit reports in previous tax years.
Accounting Reports CreationOur accountants will, firstly, organize and file the financial documents supplied, then prepare accounting books including General Ledger, Account Payables and Account Receivables, finally prepare financial statements including Balance Sheet and Profit and Loss (P&L) Statement.
During the creation of these books and statements, our accountants will request supplementary documents from your company, in order to fulfil the requirement of the HKCPA.
"Audit Report" CreationOur assigned HKCPA, as your auditor, will analyse the financial statements and the accounting books produced by the accountants, and express and sign an opinion in the auditor’s report on whether the financial statements give a true and fair view in accordance with the financial reporting framework adopted in the preparation and presentation of these documents. Collectively, the deliverable of the auditor is called “audit report”.
During the auditing process, the auditor will raise questions to the accountants to clarify any unclear materials; if the problem is not settled, the accountants and the auditor will contact and query your company for further information of your business operations and explanations.
Tax ComputationThe auditor with the help of our accountants will prepare an estimated computation of your company’s Profits Tax of the period. This tax computation is a document required by the filing of Profits Tax return.
Tax Return Filing & SubmissionAsiaBC will act as your company’s tax representative. We will file the Profits Tax return on your company’s behalf, and ensure the return and the supplementary documents are in place and their format is in compliance with the regulations of the IRD. We will submit the completed return to the IRD.
Reply of IRD QueriesAfter the submission of the tax return, in case your company receives any queries from the IRD, we will assist your company to answer the queries based on the additional information supplied by your company.
Tax and Finance ConsultationOnce we have a thorough understanding of your business operation and your financial situation, we can advise on these matters to improve your tax and finance position e.g. save tax, increase cash flow.
We will do as much as we can to ensure we can deliver the accounting books, financial statements, audit report, and tax return on time. To achieve so, we work hard to follow the schedule of accounting and auditing tasks, and we also need you to provide accurate and complete financial information and documents for our accountants and our assigned HKCPA as soon as possible.
If we foresee that we cannot submit the Profits Tax Return by the deadline, we will apply for an extension on reasonable grounds once after the quotation is accepted.
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HK Tax Representative
We are Fly High, we are an accounting and taxation services firm in Hong Kong. Hong Kong taxpayers, including personal clients and Hong Kong companies, can appoint us as the Tax Representative of their individual and corporate tax returns. We work all we can to bring and hassle-free experience of dealing with local and overseas taxation matters and the regulations of Hong Kong Inland Revenue Department (HKIRD).
Tax Return Filing Services
Acting as the Tax Representative of our clients, we sincerely file the Hong Kong tax returns for individuals, unlimited companies, self-employed businesses, and limited companies, to ensure compliance with tax laws and the IRD regulations and avoid potential punishment and penalty.
We can serve the taxpayers as follows:
Individuals
Limited Company *
Unlimited Company / Partnership / Sole Proprietorship
Remark: For limited company clients, please refer to our “4-in-1 Hong Kong Corporate Accounting Service” which includes all services to settle the accounting, taxation and audit obligations of a Hong Kong small-to- medium enterprise.
We can serve the Annual Tax Returns as follows and their related supplementary forms:
Tax Return – Individuals (BIR60)
Property Tax Return – for property jointly owned or co-owned by individuals (BIR57)
Property Tax Return – for property owned by corporations or bodies of persons (BIR58)
Profits Tax Return – Corporations (BIR51)
Profits Tax Return – Persons Other Than Corporations (BIR52)
Profits Tax Return – In Respect Of Non-Resident Persons (BIR54)
Employer’s Return (BIR56A/IR56B/IR56E/IR56F)
Additional Services
In addition to tax return file filing, we can help our clients to tackle more taxation issues.
Our other capacities are as follows:
Prepare Balance Sheet and Profits Tax Calculation for sole proprietorship and partnership businesses (commonly known as “unlimited companies”)
Provide tax advisory service for legal reduction of the tax burden and other improvements
Draft the IRD letters in Chinese and English (e.g: Extension of submission, Objection)
Answer your questions as your tax consultant
Reply to (or assist to reply to) the IRD query letters
Service Fee
Pricing of items on our quotations of tax services are calculated based on a combination of the following factors:
Availability of our workforce
Estimated time spent
Level of expertise and responsibility required
Please contact us for a free initial consultation session and the quotation.
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