The end of the financial year is the date on which the company’s accounts are closed in order to draw up the annual balance sheet.
In Hong Kong it is possible to choose the financial year-end date. Generally, companies choose either 12/31 or 03/31.
How to choose this date?
Try to align the date with those of the subsidiaries to facilitate the accounting.
It is also preferable to choose a date based on the annual profit tax return so that there is no cash flow problem at that time.
It is necessary to choose a month end for the fiscal year end to facilitate the calculation of the balance sheet which is based on calendar months.
- E book sue HK taxation
- Offshore Company’s Guide to Tax Exemption in Hong Kong
- Deregistration in Hong Kong