Accounting Service In Hong Kong

Stephen M.S Lai & Co CPA Limited is a Hong Kong-based accountancy business. With a focus on flexibility and results, we assist Hong Kong Small and Medium-sized Enterprises (SMEs) undertaking local and international business in addressing their accounting issues on time. If you own a business in Hong Kong, you may outsource your accounting and bookkeeping responsibilities to us. Our service contract is customizable, and you can hire us on a one-time or annual basis.

The Hong Kong government mandates taxpayers to file tax returns once a year, and some SMEs prepare official financial statements and accounts once a year if their monthly transaction volume is less than ten.

We highly advise SMEs with an annual turnover of HK$ 500,000 to implement formal accounting throughout the year.

Financial accounts are prepared

For each Hong Kong private limited business.

Preparation of financial data:

Revenue and spending items

Invoices and receipts

Bank statement

Preparation of financial statements:

Income Statement

Owner’s Equity Statement

Cash Flow Statement

Tax

Tax Exemptions

The initial price is $500 USD per firm

* 1. The above service cost applies solely to our existing clientele. 2. Audited accounts are not included; please contact us for further information.

Our Capability

Stephen M.S Lai & Co CPA Limited can prepare the following items for your company:

Accounting records on a computer

Accounts Receivable, Accounts Payable, and Bookkeeping Ledger

Balance sheets and income statements are some of the important examples of financial statements.

Statement of Bank Reconciliation

Stephen M.S.Lai may act as your tax representative while also handling your Hong Kong tax filings to take advantage of Hong Kong tax benefits.

Purposes for Proper Accounting

Legal Requirements

According to Section 51C of the Inland Revenue Ordinance, every business taxpayer in Hong Kong must keep necessary records of his income and expenditure to enable the assessable profit to be easily calculated, and such documents must be kept for a minimum of seven years. Failure to obey this rule may result in prosecution and a HK$ 100,000 punishment.

Insights into Business

Accounting reports that are regularly updated and properly generated might indicate a company’s financial status. This information is used by management to make plans and decisions.

Service Charge

Our charge is determined by a combination of the following factors:

Time Spent

Expertise level necessary