Hello all,
Incorporated my 100% online business in HK 18 months ago and now I got first Profits Tax Return letter from IRD. It's time to pay taxes!
My business is a very small online business and the biggest reason I choose HK to incorporate was it's offshore tax claim advantage. 100% of the income of the company is from non-HK residents and non-HK companies.
My annual turnover is less than 120000HKD, whenever I try to contact a CPA firm they ask like 20000HKD for whole process including accounting auditing filling profit tax return etc. That's 1/6 of my annual turnover and I don't believe the price they offer is a realistic one. I'm a foreigner and they know I'm a new company so more cut they can get from me is better for them. If I also can't claim that offshore claim to be honest I see no reason to sustain this company because such costs are pretty high.
Really looking for a cheap and honest CPA who can offer me realistic prices and I can work on a long term basis as well.