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Closing a business (partnership) in Hong Kong

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ORIGINAL POST
Posted by suzukifowler 17 yrs ago
When closing a partnership business in Hong Kong i am aware one needs to do the following:


- Cancel the business registration certificate

- inform the inland revenue department regarding profits tax that no further tax return will be provided

- inform the inland revenue no further employers return will be provided.


Is the business legally required to pay profits tax for the last years earnings?


Am i missing any other procedure/legal requirement when closing business?.


Thank you in advance for any advice given.

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COMMENTS
suzukifowler 17 yrs ago
how about this question in particular?


Is the business legally required to pay profits tax for the last years earnings?

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MJ1 17 yrs ago
Yes, you have to pay the profits tax.

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associates 17 yrs ago
To de-register the partnership company (closing the partnership business) in Hong Kong, filing of the following documents are required:-


1) Prepare a Deed of Dissolution or an agreement

2) clear all the outstanding debts and expenses

3) clear all the assets and distribute the surplus to partners)

4) file the profit tax return and tax clearance

5) file the employee return

6) file a form to IR to close the business

7) Insert a notice in the Government Gazette


Asia Business Secretarial can assist you in your matter. Please contact us at 2838-8887


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