What is tax investigation?
The Hong Kong Inland Revenue Department (“IRD”) has various sources of information to alert themselves whether to conduct in-depth investigation into any tax payer’s affairs. The process involves review of past seven years’ tax returns, books and records, and any other supporting evidences to judge if a tax payer has under reported any taxable income and thus, has paid less taxes. The Inland Revenue Ordinance (“IRO”) empowers the Department to recover taxation shortage and to levy related penalties or even to institute prosecution against the default tax payer.
During the past 3 financial years, the IRD had completed about 1,800 cases each year. Additional taxes and compound penalty collected from each case amounted to HK$ 2 million on average.
Our tax investigation services.
To represent a tax payer to tackle his/her tax investigation with IRD is a very challenging assignment. A competent tax representative needs to possess the following abilities :
Accurate judgemental power;
In-depth professional knowledge;
Consonant in “knowing me, knowing you” strategy;
Sharp crisis management and bargaining ability;
Speedy structuring of acceptable resolutions with IRD.
Over the past 40 years, our firm has represented tax payers in trouble of many industries to resolve their tax investigation problems. We have acted as tax representatives for doctors, solicitors, retailers, HK-PRC traders and manufacturers, forex dealers, private educational institutions, restaurants and many more.
Our experienced professional accountants and senior tax advisor (retired tax investigation officer) sincerely offer services to any tax payers who are having such problematic situation with the IRD.
Useful Link (Source: IRD):
IRD Website
eTAX Login & Information
Information on Businesses Tax Return